Constellation Federal Credit Union
Pre-Merger FAQs

Frequently Asked Questions about the proposed merger between Constellation Federal Credit Union (CFCU) and Northwest Federal Credit Union (NWFCU). Select a question below to be taken to the response.

1. Why are we pursuing a merger with NWFCU?
2. What are the benefits of a merger between CFCU and NWFCU?
3. Will CFCU's name change?
4. Who will lead NWFCU?
5. What happens to the CFCU Board of Directors and Supervisory Committee?
6. What is the voting process for the proposed merger?
7. What do I do if the proposed merger is approved by CFCU members?
8. Will CFCU branches remain open?
9. Where are NWFCU branches located?
10. What will happen to CFCU employees?
11. Will member service be affected?
12. Will my accounts still be insured?
13. What if I am already a member at NWFCU?
14. What are the benefits to me?
15. What is the time frame for the proposed merger?
16. Will I need to do anything to transfer my direct deposit?
17. What if I have more questions?

1. Why are we pursuing a merger with NWFCU?

The main reason for a merger is to ensure a healthy financial future for our members in light of declining membership and increasing cost of advancing technology. Merging with a much larger credit union will bring expanded services, benefits, and economies of scale.

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2. What are the benefits of a merger between CFCU and NWFCU?

  • Greater operating efficiency
  • Added convenience with more branches
  • Advanced information security
  • Better rates for all products
  • Expanded services, including free financial counseling, investment services, life cycle products from youth to retirement, a full-service call center, and more

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3. Will CFCU’s name change?

Yes, once the transfer of all CFCU data to NWFCU is complete, we will begin operating under the name Northwest Federal Credit Union. During the transition period, however, we will continue to operate as Constellation Federal Credit Union.

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4. Who will lead NWFCU?

Jeff Bentley, President and CEO of NWFCU. He has been with NWFCU since 2014 and has more than 30 years’ experience in the financial industry. Bobby Josephson, CFCU President and CEO, will serve in a consulting role to NWFCU.

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5. What happens to the CFCU Board of Directors and Supervisory Committee?

The CFCU Board of Directors and Supervisory Committee will no longer serve CFCU once the merger is effective. NWFCU welcomes former CFCU Board, Supervisory Committee, and member presence on future Board of Directors as well as advisory and supervisory committees.

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6. What is the voting process for the proposed merger?

An application has been filed with our federal regulator, the National Credit Union Administration (NCUA), to grant permission to merge. Within 60 days of NCUA approval, CFCU will host a member meeting which you are encouraged to attend to discuss and vote on the merger. We are confident that if you vote “yes” to approve the merger, you will be pleased by the level of commitment, service, and value you will receive from NWFCU.

A third-party agent, Clifton Larson Allen (CLA), will send notice of the member meeting by mail along with a voting ballot if you are unable to attend the meeting. At the meeting, CLA will tally in-person and mail-in ballots to validate the vote and verify if NWFCU will be the continuing credit union. The merger will pass if the majority of the ballots received are in favor of the merger. Each adult member (18 years or older) may vote only once. Mailed ballots must be received by the date and time of the member meeting.

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7. What do I do if the proposed merger is approved by CFCU members?

Initially, nothing will change. You should continue to access your account and conduct business with CFCU as you do today. Once the proposed merger is approved by CFCU members, we will enter a transition period for transferring CFCU accounts to NWFCU. During the transition period, we will continue to operate under the name Constellation Federal Credit Union. We will keep you informed of specific details as they become available and will help you through the transition of your account services. Our intention is to make this transition as seamless as possible for you.

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8. Will CFCU branches remain open?

Yes. CFCU branches will remain open with the same hours and service that you are familiar with.

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9. Where are NWFCU branches located?

NWFCU has 10 branches located throughout Virginia and Maryland. You will have access to these as well as the current CFCU locations.

  • Herndon, VA (NWFCU Headquarters)
  • McLean, VA (2 locations)
  • Chantilly, VA (2 locations)
  • Gainesville, VA
  • Leesburg, VA
  • Manassas, VA
  • Rockville, MD
  • Vienna, VA

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10. What will happen to CFCU employees?

All CFCU employees will become employees of NWFCU and will be provided with career opportunities as part of NWFCU’s ongoing business and growth in the Washington Metropolitan region.

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11. Will member service be affected?

Yes, in a positive manner. With the combined force of both credit unions we will be able to provide you with even better service. Combining the credit unions allows a better variety of products, services, technology, and member support.

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12. Will my accounts still be insured?

Yes. Your savings will be federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. Government agency and backed by the full faith and credit of the United States Government.

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13. What if I am already a member at NWFCU?

Your CFCU account will be merged and you will have two NWFCU accounts.

Note: If combining your accounts deposit exceeds the National Credit Union Administration’s maximum insurance limit of $250,000, they will be insured for a grace period of six months following your account transfer to NWFCU. You may want to speak with a NWFCU member service representative before the end of the grace period for the best way to title your deposit accounts and maximize your insurance protection. You can enter your account balances into this free Share Insurance Estimator to find out what is insured and what portion of your accounts (if any) exceeds coverage limits under the NCUA's share insurance rules. 

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14. What are the benefits to me?

The Member Loyalty Program will be continued by NWFCU to recognize years of dedicated credit union membership.

In addition, there is potential for a bonus dividend payout to members based on deposit and loan relationships. You can learn more about this at the member meeting. The notification of the location and date of the meeting will be mailed to you.

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15. What is the time frame for the proposed merger?

We are still waiting on approval from the National Credit Union Administration (NCUA), and once that happens CFCU members will have the opportunity to vote on the proposed merger at a meeting held within 60 days of NCUA approval. If the majority of member votes are in favor, the merger will be legally official and we will begin a data transfer to the NWFCU system. We will continue to operate at CFCU during that time. The data transfer is expected to take about three months, but could take more or less time. After the data is fully transferred, the merger will be complete and we will begin to operate under the NWFCU name.

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16. Will I need to do anything to transfer my direct deposit?

At this time we do not have all the technical details about direct deposit. We will notify you of any action you need to take when these details are determined.

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17. What if I have more questions?

Please do not hesitate to reach out with any further questions you may have. You can reach us by phone at 1-800-826-3818 x1310 or by email at info@constellationfcu.org.

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