Benchmark Federal Credit Union (BFCU) and Franklin Mint Federal Credit Union (FMFCU) recently announced they have entered into a definitive merger agreement. As a result, Benchmark Federal Credit Union will merge into Franklin Mint Federal Credit Union.

The merger agreement is subject to regulatory approval and a vote of Benchmark Federal Credit Union’s membership.

According to FMFCU, this proposed merger will provide BFCU members with expanded access to banking solutions, branch locations, and financial education.

“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,” Daniel J. Machon, Jr., President & CEO of Benchmark Federal Credit Union said. “Most importantly, FMFCU shares our core values, member-first philosophy, and commitment to the communities we serve.”

FMFCU says the merger is expected to be completed in early 2026. Updates and detailed information will be provided to BFCU members throughout the duration of this merger process.

“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.”

According to FMFCU, the credit union has provided financial products and services to its members in the greater Philadelphia region and beyond since 1970. Currently, FMFCU has 148,000 members; 6,000 partner organizations; and 17 branches.

abc27 news will keep you updated as more information becomes available.