CommonWealth One Federal Credit Union
BankingVirginia, United States51-200 Employees
CommonWealth One Federal Credit Union is a member‑owned financial cooperative operating in the banking sector, headquartered in Alexandria, Virginia. Founded in 1944 as Army Air Force Annex #1 Credit Union, it now serves more than 38,000 members and holds assets exceeding $550 million. The organization prioritizes financial wellness and lasting member relationships, offering products and services designed to help members achieve their financial goals at any time. Its approach centers on placing members at the heart of its operations and serving as a financial partner throughout the members’ lifetimes. In September 2025, the credit union announced plans to merge with Arlington Community Federal Credit Union, subject to regulatory approval and a membership vote. If the merger proceeds, Karen Rosales, current CEO of Arlington Community, would lead the combined entity, with Frank Wasson continuing to assist during a transition through December 2026. The institution has received recognition for financial education, including a First Place Desjardins Adult Financial Education Award in 2025, and has engaged in partnerships and initiatives such as a FinTech Symposium with James Madison University and a Kasasa program to offer cash‑reward checking.