East Hartford-based America’s First Network Credit Union and Waterbury Postal Employees Federal Credit Union plan to merge.
The two nonprofit cooperatives have applied to the state Department of Banking for approval to merge Waterbury Postal with and into America’s First Network. The deal is targeted to close in the second quarter of 2026.
America’s First, led by Nicholas Moalli, is a state-chartered credit union with $102.6 million in assets and 9,504 members, according to the National Credit Union Administration. It has branches in East Hartford, North Haven, Groton, Trumbull, Stamford, Fairfield, Hartford, Putnam, Greenwich, Enfield and Jonesboro, Arizona.
America’s First evolved from Personal Care America Federal Credit Union, converting to a state charter in 2016 to adopt a “network” model that allows other credit unions to operate as divisions. Since then, nine Connecticut credit unions have joined, according to the company’s website.
Waterbury Postal Employees Federal Credit Union, chartered in 1939, has $10.89 million in assets and 958 members.
