MILFORD, Del.–Del-One FCU has entered into a partnership in which the 93,000 members of Delaware Electric Co-op are now eligible to join the credit union.
In announcing the new partnership, Del-One President/CEO Dion Williams cited the Seven Cooperative Principles, and especially Principle #6, “Cooperation Among Cooperatives.”
“This partnership shows cross-industry cooperation and how cooperatives can work together for the benefit of their members,” the credit union said in a statement.
The $420-million Del-One FCU further cited Principle #5, “Education, Training and Information,” in announcing the merger, with both organizations saying they educate their members to make better decisions to enrich the lives of their member-owners, and work to serve the underserved.
In a statement, Delaware Electric Co-Op President and CEO Bill Andrew noted the two cooperatives are alike as they put service, not profit, above all else, and keep rates low to benefit the members.
At a ceremony announcing the partnership, both Sen. Tom Carper (D-DE) and Rep. Lisa Blunt-Rochester (D-DE) were in attendance.
“Sticks in a bundle are unbreakable,” said Blunt-Rochester.
Del-One FCU has 55,000 members and 10 branches.
Below, from left, Senator Tom Carper, Congresswoman Lisa Blunt-Rochester, Delaware Elec. Co-Op President/CEO Bill Andrew & Del-One FCU President/CEO Dion Williams.