ARLINGTON, Va.— Arlington Community Federal Credit Union and CommonWealth One Federal Credit Union have announced plans to merge, the organizations reported.
If approved, the merged credit union would exceed $1 billion in assets, operate 10 branches, and serve more than 61,000 members across Virginia, including Arlington, Alexandria, Falls Church, and Harrisonburg, as well as Washington, D.C., and Maryland.
Karen Rosales, current CEO of Arlington Community, would lead the combined credit union while Frank Wasson, current president/CEO of CommonWealth One, would stay on to assist with the transition and retire in December 2026.
“Both of our credit unions have proud histories of serving and empowering members,” Rosales said. “We’re excited to join forces to continue to enhance value for our members, optimize tools for our employees and synergize efforts to deepen impact in our communities.”
Wasson agreed, saying, “This is a strategic partnership between two strong, community-focused credit unions. And it’s a true partnership with a shared vision for innovation and service excellence.”
The combined organization’s legal name will be CommonWealth One Federal Credit Union. The legal merger date (LD1) is anticipated in Q2 2026, with operational integration expected to follow in late 2026 into early 2027.