BELCO COMMUNITY CREDIT UNION ANNOUNCES INTENTION TO MERGE YORK-BASED CREDIT UNION

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

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About Belco Community Credit Union  

Belco Community Credit Union is a full-service financial institution offering checking, savings, loans, investment and small business products and services. Established in 1939 to serve employees of Bell Telephone Company in Harrisburg, PA, Belco became a community-chartered credit union in July 2005, opening membership to businesses and individuals who live, work, worship, or attend school in Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry and York counties. Belco currently has 70,000 members and $797 million in assets, 14 branches, numerous ITM/ATM locations, and 24-hour account access through mobile, online and telephone banking. For more information, visit www.belco.org or call (800) 642-4482.