WEST CHESTER, PA & CHADDS FORD, PA — Benchmark Federal Credit Union (BFCU) and Franklin Mint Federal Credit Union (FMFCU) have agreed to merge, pending regulatory approvals and a vote by Benchmark’s membership. The merger represents a strategic collaboration designed to enhance services for members, strengthen community initiatives, and uphold the shared values of both institutions.
This partnership will bring BFCU’s members expanded access to banking services, an increased network of branches and ATMs, and advanced digital tools while maintaining the personalized service they’ve come to expect.
“Joining forces with Franklin Mint Federal Credit Union allows us to deliver even greater value to our members, including broader service offerings, enhanced digital tools, and access to a larger branch and ATM network,” said Daniel J. Machon, Jr., President & CEO of Benchmark Federal Credit Union. “Most importantly, FMFCU shares our core values, member-first philosophy, and commitment to the communities we serve.”
Franklin Mint Federal Credit Union, with assets exceeding $1.8 billion and a legacy of growth and community involvement, sees the merger as an opportunity to build on its foundational cooperative values while broadening its impact.
“We are honored to welcome Benchmark Federal Credit Union’s members and employees to the FMFCU family,” said Michael B. Magnavita, CPA, President & CEO of Franklin Mint Federal Credit Union. “This partnership not only supports our long-term strategic vision but also reinforces our commitment to building relationships, empowering members, and strengthening businesses and communities—all while enhancing our ability to deliver financial wellness and innovation.”
Post-merger, the combined entity will operate under the Franklin Mint Federal Credit Union name and leadership. Members from Benchmark will continue to be served by familiar staff, ensuring a smooth and seamless transition.
The merger is anticipated to be finalized in early 2026 following regulatory approvals and member approval. Regular updates and detailed information will be provided to Benchmark members throughout the integration process.
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