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AB&W CU to merge with CommonWealth One FCU

Alexandria, Va.-based AB&W CU Inc. will merge with CommonWealth One FCU.

The National Credit Union Administration approved the deal on Sept. 12. AB&W members gave their approval Dec. 5. The transaction will close March 1, 2020.

CommonWealth One FCU has more than $375 million in assets, 33,000 members and six branches, according to a news release. AB&W has $30 million in assets, 4,000 members and one branch.