Baker Federal Credit Union to merge with First Commonwealth Federal Credit Union
LEHIGH VALLEY, PA/PHILLIPSBURG, NJ (December 14, 2021) — Baker Federal Credit Union (Phillipsburg, NJ) has announced its intent to merge with First Commonwealth Federal Credit Union (Lehigh Valley, PA), pending approval from Baker Federal Credit Union members in a special meeting on February 7, 2022.
Members will continue to be served by the same great people, providing the exceptional service that both credit unions are known for. Both organizations are committed to providing an exceptional member experience while maintaining the safety and security of members’ assets and data. This merger joins two strong institutions partnering for the right reasons – to do more good for more people.
First Commonwealth is the largest credit union in the Lehigh Valley and a leader in inclusive banking. The merged credit union will offer its combined 74,000+ members an enhanced experience by bringing together best practices of both credit unions, including optimizing and expanding member convenience through the latest in digital banking, contact center, financial center, and ITM technology, as well as diversification of consumer and business product and service offerings. The credit unions will continue doing business as First Commonwealth Federal Credit Union, with combined total assets of more than $1 Billion.
“The Baker Federal Credit Union Board of Directors was both passionate and insistent that a merger be good for all stakeholders – members, employees and the communities we serve. It became clear when I reached out to First Commonwealth, and through our due diligence process, that this merger was exactly what we were looking for and would indeed benefit everyone. We are thrilled to become part of the First Commonwealth family. By joining forces, we will be able to offer products, services, and conveniences that we could not offer on our own while continuing to serve the Phillipsburg and Warren County, NJ communities.” said Sue Rodriguez, President/CEO of Baker Federal Credit Union.
“We are honored and excited to welcome Baker members and employees to First Commonwealth through this merger. First Commonwealth and Baker share similar values and culture, making this a merger that truly benefits current and future members, employees and the communities we collectively serve. As we continue to focus on smart growth and doing more good for more people, our partnership with Baker demonstrates our commitment to helping other credit unions find optimal pathways to continue to serve their members’ current and future financial needs while advocating for the credit union movement and its mission of people helping people,” said Donna LoStocco, President/CEO at First Commonwealth Federal Credit Union.
This merger will bring First Commonwealth’s first New Jersey financial center, and its 12th retail location, with the opening of the Phillipsburg Financial Center in 2022. For information on the First Commonwealth and Baker merger, please visit firstcomcu.org/baker.
About First Commonwealth Federal Credit Union
First Commonwealth, headquartered in Allentown, PA, is one of the most accomplished and preeminent credit unions serving Lehigh, Northampton, and Carbon Counties in PA, and Warren County, NJ. With 12 locations and a top-tier digital banking experience, it serves 81,000 members and 2,400 companies. Since 1959, First Commonwealth has prioritized growth, innovation, technology, and friendly service. First Commonwealth has 235+ employees and over $1.2 billion in assets, operating as a member-owned, not-for-profit financial cooperative embodying purpose-driven values.
