Hamden Municipal Employees Federal Credit Union

Wepawaug Flagg Federal Credit Union (“Wepawaug Flagg”) and Hamden Federal Credit Union (“Hamden”) announced today that they have agreed to merge under the name of Wepawaug Flagg Federal Credit Union.

Kevin Shields, Chairman and CEO of Hamden, stated, “The opportunity to provide expanded services to our members and the increase in regulations in recent years were key factors in the decision to merge.”

Michael Hinchey, President/CEO of Wepawaug Flagg, said, “The opportunity to merge with a local credit union with a history of outstanding service to its members is a welcome addition for us. We look forward to serving them in the combined credit union.”

Hinchey stated that there are no plans to close office locations and he hopes to retain the Hamden employees. Once all approvals are received and the merger completed, interim processes will be put in place to serve all members at each location while data processing systems are combined.

Wepawaug Flagg Federal Credit Union was founded in 1936 and serves over 30 specific employer groups (SEG’s) including the Board of Education employees in Hamden, Cheshire, and the municipal employees in New Haven excluding Police Department, Fire Department and Board of Education. As of March 31, 2010 Wepawaug Flagg had $63.3 million in assets and over 10,500 members.

Hamden Federal Credit Union was chartered in 1962 to serve the employees of the Town of Hamden, except for the Board of Education Employees. The credit union added 5 SEG’s beginning in 2002, with the largest SEG addition in 2007 being Faculty, Staff and Students of Southern CT State University. As of March 31, 2010 Hamden had $6.9 million in assets and over 1,800 members.

Membership in SEG‐based credit unions is limited to the specific employees of the groups and their relatives.

Additional information contact ‐ Michael Hinchey @ 203‐288‐1695