EAST HARTFORD, CT (November 12, 2024) |
The merger of American Eagle Financial Credit Union (AEFCU) and Hartford-based Wellness Federal Credit Union (WFCU) has now been completed and is in full effect.
In February, American Eagle and Wellness announced that their respective boards of directors had voted to combine forces. After subsequent approval by state and federal authorities, WFCU members ratified the approval with their own vote in June.
AEFCU, is Connecticut’s largest community credit union, chartered by the state and serving anyone who lives, works, attends school, or worships in Hartford, Middlesex, Tolland, and New Haven County in Connecticut, and Hampden County in Massachusetts. WFCU is a federal credit union and serves employees, contractors and self-employed people in the healthcare industry statewide. It has its origins in Hartford Hospital and was once known as the Hartford Healthcare Credit Union.
“American Eagle is guided by our mission to enrich the lives of our communities and create a world where financial freedom is a reality, and since credit unions are community-builders, joining forces with Wellness gives us a presence in Hartford the ability to help our new and prospective members build their financial health and reach their goals,” said American Eagle President and CEO Howard Brady.
“Wellness Federal Credit Union is excited about the opportunity to merge with American Eagle Financial Credit Union,” said former WFCU CEO Cheryl Calabrese. “Our members have been requesting more digital banking options, branch locations and access to no-fee ATMs for several years. It has become increasingly difficult for our small credit union to meet these demands and our partnership with American Eagle will satisfy these needs, expand our products & services, and ensure long-term sustainability within the industry.”
“This is good news for growing the breadth and reach of the credit union advantage in greater Hartford,” Brady concluded. “We welcome Wellness Federal’s members and employees into American Eagle and aspire to be the gateway to financial freedom for the people and communities we serve,” adding that the full range of products and services are now available for the former Wellness members who are now part of American Eagle. These include:
- Expanded branch locations
- Extended branch hours
- Access to a surcharge-free ATM network
- Certificate accounts
- IRA accounts
- Higher dividend rates
- Health savings accounts
- Wealth management planning
- Improved fraud monitoring services
- Integration with 3rd party software to help members prepare a budget and analyze spending
- In-house first mortgage program
- Products and services targeted to the low-income community WFCU served
- Online account opening
- Loan auto decisioning
- Person-to-person payments
- Financial education seminars and programs.