State regulators approved the merger of America’s First Credit Union and Waterbury Postal Employees Federal Credit Union.
A proposed merger between East Hartford-based America’s First Credit Union and Waterbury Postal Employees Federal Credit Union has received state regulatory approval.
The Connecticut Department of Banking on April 29 approved an application allowing Waterbury Postal Employees Federal Credit Union to merge with and into America’s First Credit Union, according to a department notice. The merger is expected to close in the second quarter of 2026.
America’s First, led by Nicholas Moalli, had about $102.6 million in assets and 9,504 members as of year-end 2025, according to National Credit Union Administration data. Waterbury Postal Employees Federal Credit Union had about $10.9 million in assets and 958 members.
America’s First converted to a state charter in 2016 and adopted a “network” model that allows other credit unions to operate as divisions. Since then, nine Connecticut credit unions have joined the organization, according to its website.
