Webster First Federal Credit Union (WFFCU) and Cambridge Teachers Federal Credit Union (CTFCU) announced today that the two organizations will merge their operations effective May 31st, 2024.
Familiar with rapid growth throughout Massachusetts; since 2011 Webster First has completed mergers with Saugus Federal, Fitchburg Federal, Winthrop Federal, Filene Federal, and Industrial Credit Unions. In operation since January 1928, Webster First has attained an asset size of more than $1.4 billion and currently serves over 90,000 members, ranking among the largest operating credit unions in Massachusetts today.
Webster First is confident that Cambridge Teachers FCU will be another successful merger for the growing credit union. "We look forward to combining the two credit unions and strengthening our presence in the Cambridge market” stated Webster First CEO John Thomasian.
Cambridge Teachers FCU contains over $26 million in assets and has one branch located in Cambridge. Cambridge Teachers FCU was founded in 1939 to help serve the financial needs of teachers within