A planned merger of Chadds Ford-based Franklin Mint Federal Credit Union (FMFCU) and the Wawa Employees’ Credit Union (WECU) has been greenlighted, writes Jeff Blumenthal for Philadelphia Business Journal.

The deal will close June 2.

FMFCU is the sixth-largest credit union in the Philadelphia region. It has $1.6 billion in assets, 125,000 members, and 15 branches.

WECU, with $23 million in assets, serves Wawa employees and former employees. It has 4,000 members and only one branch, at Wawa headquarters in Media.

That branch, and WECU’s employees, will all remain with the merger.

FMFCU CEO Michael Magnavita knows WECU manager Sara Dougherty and believes both credit unions share similar cultures.

With the merger, Franklin Mint can cross-sell WECU customers its products and services, including financial literacy programs, home equity lines of credit, special first-time homebuyer loans, and small business loans. Wawa members will now have access to a call center and 15 more branches.

Magnavita said WECU will give Franklin Mint access to Wawa employees, even those not members of WECU since the FMFCU brand will be on Wawa’s campus and 15 other nearby branches.

Read more at Philadelphia Business Journal about the merger of Franklin Mint and Wawa Employees’ Credit Union.