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On Thursday, the $1.2 billion Sparks, Md.-based First Financial Federal Credit Union, located in the northern suburbs of Baltimore, finalized its merger with the $2.6 million Wor-Co Federal Credit Union, located 170 miles away in the small, southern Maryland town of Pocomoke City.
The finalized merger comes a month after Wor-Co members voted 66-11 to merge with First Financial. "We are excited for the opportunities this merger brings to the former Wor-Co members. First Financial offers a variety of financial products, convenient services and the personal service our members have come to expect from their credit union," Wor-Co Supervisory Committee Chair Dawn White said in a prepared statement.
According to Thursday's announcement, as a result of the merger, First Financial now serves four school systems throughout Maryland and over 90 select employer groups within its service region.
"Having the common bond as education-based credit unions, the merger between First Financial and Wor-Co is a very natural fit," Eric Church, First Financial president/CEO, said. "We are excited to welcome aboard the members of Wor-Co Federal Credit Union, and look forward to being a part of their community."
According to information on First Financial's website, the Wor-Co branch closed from March 18-21 for conversion to the First Financial systems and reopened on March 22 to members as First Financial.
According to NCUA data, First Financial will add 612 Wor-Co members to its 64,897-member base.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
