CommonWealth One & Arlington Community Federal Credit Union Announce Intent to Merge

Arlington Community Federal Credit Union and CommonWealth One Federal Credit Union are pleased to announce their plans to merge, pending regulatory approval and a membership vote.

If approved, the merged credit union would exceed $1 billion in assets, operate 10 branches, and serve more than 61,000 members across Virginia, including Arlington, Alexandria, Falls Church, and Harrisonburg, as well as Washington, D.C., and Maryland. Karen Rosales, current CEO of Arlington Community, would lead the combined credit union while Frank Wasson, current president/CEO of CommonWealth One, would stay on to assist with the transition and retire in December 2026.

“Both of our credit unions have proud histories of serving and empowering members,” Rosales said. “We’re excited to join forces to continue to enhance value for our members, optimize tools for our employees and synergize efforts to deepen impact in our communities.”

Wasson agreed, saying, “This is a strategic partnership between two strong, community-focused credit unions. And it’s a true partnership with a shared vision for innovation and service excellence.”

The combined organization’s legal name will be CommonWealth One Federal Credit Union. The legal merger date (LD1) is anticipated in Q2 2026, with operational integration expected to follow in late 2026 into early 2027.

Both credit unions are committed to retaining the talented employees that have driven success and positive member impact. “The dedication, talent and expertise of the employees on both teams is key to our success,” Rosales said.

As member-owned cooperatives, and under the guidelines of the National Credit Union Administration, full merger approval is contingent upon CommonWealth One’s member approval. As the process moves forward, both credit unions will provide information to their respective memberships via their websites and other applicable communication channels.

About CommonWealth One Federal Credit Union

Since 1944, CommonWealth One Federal Credit Union, headquartered in Alexandria, VA, has grown to become one of Washington, D.C., and Northern Virginia’s top credit unions. CommonWealth One is a full-service, member-owned, not-for-profit financial cooperative committed to being its members' lifetime financial partner. CommonWealth One has branches in Washington, D.C., Alexandria, VA, and Harrisonburg, VA (including at James Madison University).
 

About Arlington Community Federal Credit Union

For more than 70 years, Arlington Community FCU has been committed to financially empowering members through remarkable service. Today, with approximately $530 million in assets, Arlington Community FCU serves nearly 25,000 members throughout Arlington County, the City of Alexandria, the City of Falls Church, and Fairfax County, Virginia. To learn more visit: www.arlingtoncu.org.