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The $1 billion First Commonwealth Federal Credit Union in Allentown, Pa., has acquired the $42.8 million, Phillipsburg, N.J.-based Baker Federal Credit Union, effective today, according to an announcement from First Commonwealth.
The official acquisition announcement came about two months after the credit unions' members voted in favor of the merger at a special meeting held on Feb. 7. From now until Aug. 1, 2022, when all Baker accounts and members are scheduled to be fully transitioned to First Commonwealth's systems, Baker will be known as "Baker Federal Credit Union, a division of First Commonwealth Federal Credit Union." Effective today, First Commonwealth has assumed the assets, share deposits and liabilities of Baker FCU, and has absorbed all the select employee groups previously served by Baker, according to the announcement.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
