CHADDS FORD, Pa.—The $1.8-billion Franklin Mint FCU here has agreed to merge in $300-million Benchmark Federal Credit Union based in West Chester, Pa., the credit unions announced in a joint release.
The deal is subject to customary regulatory approvals and a vote of Benchmark Federal Credit Union's membership. The merger is expected to be completed in early 2026.
"Joining forces with Franklin Mint Federal Credit Union allows us to deliver even greater value to our members, including broader service offerings, enhanced digital tools, and access to a larger branch and ATM network," said Daniel J. Machon, Jr., president and CEO of Benchmark. "Most importantly, FMFCU shares our core values, member-first philosophy, and commitment to the communities we serve."
"We are honored to welcome Benchmark Federal Credit Union's members and employees to the FMFCU family," said Michael B. Magnavita, president and CEO of Franklin Mint Federal Credit Union. "This partnership not only supports our long-term strategic vision but also reinforces our commitment to building relationships, empowering members, and strengthening businesses and communities—all while enhancing our ability to deliver financial wellness and innovation."