Client Feature: Amplifying growth with the right-sized bank
Wulco, Inc. finds a financial champion who understands the complexities of manufacturing, government contracting, and long-term growth planning
When Wulco, a third-generation, family-run business, sensed their legacy banking relationship was no longer keeping pace, they turned to a bank that had already proven itself — First Financial Bank. Though not their primary bank at the time, First Financial had shown consistent engagement and a forward-thinking strategy. As Wulco transitioned leadership to the next generation, they needed more than capital — they needed a champion who understood the complexities of manufacturing, government contracting, and long-term growth planning. The change has supported significant growth thanks to the creative and collaborative relationship.
The Problem
Wulco’s roots trace back to Jim Wulfeck’s garage. Today, the company has grown into a multi-divisional enterprise led by his grandchildren, supporting the Department of Defense through armored vehicle manufacturing, distribution, shipping support, and convoy upfitting — all while preserving a family-first culture rooted in innovation and craftsmanship.
Despite an existing relationship with a large national bank, CEO Erik Wulfeck had a smaller equipment loan with First Financial. What caught his attention was their initiative and a customized proposal tailored to Wulco’s growth phase.
“We weren’t looking to move banking relationships,” remembers CEO Erik Wulfeck, “but our banker asked to put something in front me. He showed that he really understood how we operate, the growth phase that we were in, and how a lending partner could help us continue to grow.”
Changing banks for a large business, however, can be a nightmare of paperwork and account changes. Would it really be worth all the work?
Banking with First Financial
Switching banks for a company of Wulco’s scale can be daunting — but First Financial made the process seamless. What stood out most was the personal involvement of senior leadership. CEO Archie Brown and Chief Credit Officer Bill Harrod met with multiple generations of the Wulfeck family, demonstrating First Financial’s commitment to earning their trust.
When asked if he can remember a time when the First Financial Team went above and beyond for Wulco, Erik points to the transition process. First Financial collaborated with Wulco’s advisors and internal teams to ensure no disruption in day-to-day operations. That level of care — thoughtful yet scrappy — confirmed to the Wulfeck family that they had made the right choice.
Today, the relationship goes well beyond transactional. Wulco now leverages a full suite of First Financial solutions — including a large credit facility, treasury management tools, succession planning, and a flexible line of credit tailored to their working capital cycles.
When a new client required armored construction equipment, First Financial quickly increased Wulco’s credit line to support inventory needs — and went a step further by helping secure a lender for a new manufacturing facility. They never hesitated, despite the complexity.
Wulco’s culture is built on loyalty and longevity — some employees have been with the company for over 40 years. That sense of shared values is one reason Wulco sees First Financial as an invaluable part of their business team.
“The experience with First Financial has been very accommodating and understanding to our business and how it operates,” says Erik. “I am constantly impressed by their dedication to coming up with solutions to fulfill needs — not only for our current operations — but looking to the future so that we do not have any roadblocks or issues with growth plans.”