Alexandria, Virginia – In a true merger of peers, two Northern Virginia-based credit unions - CommonWealth One Federal Credit Union and Arlington Community Federal Credit Union - are coming together as their proposed union received regulatory consent and overwhelming approval in a majority vote by CommonWealth One members.
The partnership forms a single institution with more than $1.1 billion in assets, 10 branches and more than 61,000 members.
The effective legal date is scheduled for July 1, 2026. Merger operations are expected to be completed in August 2027. ACFCU will operate as CommonWealth One Federal Credit Union, formerly Arlington Community Federal Credit Union, during the transition period. The combined credit union will be led by Karen Rosales, current president/CEO of ACFCU. CommonWealth One’s president/CEO Frank Wasson will remain in a consultant role during the merger process before retiring at the end of the year.
“This partnership is built on the idea that we are better together,” Rosales said. “While members continue to enjoy the trusted local service, familiar faces, and experiences they value today, we’re building on a solid foundation and unlocking enhanced benefits for every member and their communities.”
Wasson added, “Once integration is complete, all branches will operate as one organization, and ACFCU members will have access to all CommonWealth One branch locations – while continuing to receive the same personalized service, local care, and trusted relationships they know today.”
Rosales further added “We are deeply appreciative of the hard work and dedication demonstrated by our team members, who have played an integral role in the success of both credit unions and throughout the merger integration process.
The combined Board of Directors and Leadership Teams look forward to the added value and access points the combined credit union will bring to our collective membership and communities. Thank you for your support and trust as we take this exciting next step. Here’s to growing better together!”
About CommonWealth One Federal Credit Union
For over 80 years CommonWealth One Federal Credit Union has been changing lives with financial freedom, choice and opportunity. This vision has grown to a credit union serving more than 38,000 members with approximately $544 million in assets, and serving members in Alexandria, Virginia, Washington, D.C., and Harrisonburg, Virginia. To learn more visit: www.cofcu.org.
About Arlington Community Federal Credit Union
For more than 70 years, Arlington Community FCU has been committed to financially empowering members through remarkable service. Today, with approximately $540 million in assets, Arlington Community FCU serves over 26,000 members throughout Arlington County, the City of Alexandria, the City of Falls Church, and Fairfax County, Virginia. To learn more visit: www.arlingtoncu.org.