Northwest Federal completes Constellation Federal Credit Union merger

Herndon, Virginia-based Northwest Federal Credit Union has completed its merger with Reston-based Constellation Federal Credit Union.

The merged credit unions now do business under the Northwest Federal Credit Union name.

The National Credit Union Administration, which regulates credit unions, approved the merger earlier this year.

Northwest Federal cites declining membership at Constellation Federal and increasing costs as the main reasons for the merger.

Constellation employees are now with Northwest Federal, including Constellation’s CEO Bobby Josephson, who now serves as an executive consultant.

Jeff Bentley continues to serve as president and CEO.

Constellation Federal brings $223 million in assets, boosting Northwest Federal to $3.6 billion in assets.

Northwest Federal has more than 270,000 members. It is one of the 60 largest credit unions in the country, and ranks as fourth largest among credit unions based in the D.C. area.

Northwest Federal now has eight branches in the Washington area.

The credit union has posted an FAQ on its website for former Constellation Federal customers.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up