HARRISBURG,
PA (FEBRUARY 7, 2022) – Belco Community Credit Union and Wilmac Employees’ Credit
Union, based in York, Pennsylvania are announcing their intention to merge.
As Belco continues to grow
in membership base and assets, Wilmac CU approached Belco leadership about the
possibility of a merger. Founded in 1976, Wilmac CU has been offering
affordable loans and savings accounts to Wilmac Corporation employees since its
inception.
The merger comes as a
result of the sale of Wilmac Corporation in late 2021. Wilmac CU operates one
location in York and has more than 500 members.
“Providing current Wilmac
CU members with the ability to continue their credit union experience is
something we look forward to,” says Amey Sgrignoli, President & CEO of
Belco Community Credit Union. “Wilmac CU is a unique credit union, with
members across our seven counties. We welcome their members to the Belco
family. We are confident we can provide them with an exceptional experience
that will meet their current and future needs.”
Pending regulatory and
membership approval, all members will have access to any of Belco’s 14 branch
locations. Access to debit cards, online banking and ATM/ITM’s, will also be
available.
“We are looking forward to
working through this process with Belco and are confident our members will be
satisfied with the expanded services Belco can provide.” says Tom Shugars,
Chairman of the Board, Wilmac Employees’ Credit Union. “Credit unions were
founded on the philosophy of cooperation and member ownership. Today’s
announcement underscores our commitment to collaboration among cooperatives to
benefit our members.”
The merger received
initial approval in December 2021 from both Boards and is expected to be
finalized by April 30, 2022.
For more information about Belco, please
visit www.belco.org
