FIRST COMMONWEALTH FEDERAL CREDIT UNION AND BELLCO FEDERAL CREDIT UNION ANNOUNCE INTENT TO MERGE

ALLENTOWN, Pa., May 16, 2023 /PRNewswire/ -- Reaffirming their commitments to improve member financial wellbeing and investing in their communities, First Commonwealth Federal Credit Union (Allentown, PA) "First Commonwealth" and Bellco Federal Credit Union (Wyomissing, PA) "Bellco" have jointly agreed to merge, pending approval from the National Credit Union Administration (NCUA), and Bellco's membership. The merger is expected to be completed in the first half of 2024.

The credit unions, when merged, will do business as First Commonwealth Federal Credit Union, with combined assets of more than $1.3 billion and over 92,000 members. By bringing the two credit unions together, their members will have access to expanded products and services, the latest digital banking technology, and best-in-class member service at 14 financial centers, our Contact Center, and our ATM/ITM network.

"As a member-owned Community financial cooperative, our members are our top priority. By joining forces with First Commonwealth Federal Credit Union, our members will have access to additional products and services, and a growing network of financial centers and ATMs/ITMs across the Lehigh Valley, Warren County, NJ, and Berks County. Bello's community impact will be amplified through First Commonwealth's 'We Thrive Foundation', Corporate Social Responsibility initiatives, and volunteerism. These benefits are a win for our members and the communities we serve," said Tom Gosling, Bellco Federal Credit Union's President/CEO.

"First Commonwealth Federal Credit Union is thrilled to welcome Bellco members and employees through this merger. With shared values rooted in the wellbeing of our members and communities, complementing retail footprints, and strong financial positions, this partnership is a natural fit for both organizations' members, employees, and communities," said Donna LoStocco, First Commonwealth Federal Credit Union's President/CEO.

For additional information about the First Commonwealth Federal Credit Union and Bellco Federal Credit Union merger visit firstcomcu.org/Bellco.

ABOUT FIRST COMMONWEALTH FEDERAL CREDIT UNION

First Commonwealth Federal Credit Union (FCFCU) is a $1B+ member-owned, not-for-profit financial services cooperative serving nearly 78,000 members and 1,800 businesses from Berks County, PA to Warren County, NJ since 1959. A nationally recognized leader in consumer and business banking innovation and service, FCFCU is committed to 'Banking for Better' and investing heavily in the Lehigh Valley and Berks County. With a mission of "empowering the pursuit of financial happiness", FCFCU is focused on bringing affordable, easy to use financial services to everyone in our communities.

First Commonwealth Federal Credit Union's members enjoy access to 12 financial centers in Pennsylvania and New Jersey, 24/7 account access, a best-in-class digital banking center, and a dedicated business solutions center.

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SOURCE First Commonwealth Federal Credit Union

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