Webster First Case Study

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Webster First Federal Credit Union: Small Town Feel, Large Scale Operations
Even though Digital Federal Credit Union is a country wide credit union, Webster First Federal Credit Union is a successful and growing credit union because of recent mergers including, Saugus Federal, Fitchburg Federal, Winthrop Federal, and Filene Federal Credit Unions. Webster First merged with these credit unions in early 2010 and has seen their total assets increase from about $400 million in 2005 to $635 million in 2013.
On June 13, 2011 it was posted that The Board of Directors of the Saugus Federal Credit Union announced that they had reached an agreement to merge with Webster First Federal Credit Union of Worcester. Saugus Federal Credit Union was a 73 year old institution that would still serve their current membership and community that they always had, while also keeping all offices and staff in place. Webster First was able to supply Saugus Federal with, “far greater resources and the ability to improve and expand the products and services offered to our members, including mobile …show more content…
On November 24, 2011 the Telegram and Gazette posted an article stating that Webster First was planning their second merger of the year with Fitchburg Municipal Employees Federal Credit Union. Fitchburg Federal had lost $84,503 during the nine months ending September 30, 2011 according to a report filed with the National Credit Union Administration. Not only were they losing money but they had been ranked among the weakest credit unions in the country. In the same time period Webster First recorded a net income of $5.4 million. It only made sense for Fitchburg Federal to find a larger and more successful credit union that they could merge with. The merge became official on November 30, 2011 and all employees that were part of Fitchburg Federal were

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