MERGER DISCUSSIONS ANNOUNCEMENT
The Boards of Directors of Access Credit Union and Crosstown Civic Credit Union are pleased to share that the credit unions initiated discussions in the spring of 2019 regarding the potential for a merger between our two organizations.
The two credit unions have worked together to complete initial reviews that clearly indicate such a partnership would provide great value for our respective members, employees, and communities. Over the next couple of months, we will develop a more detailed business case for each board to review and use in deciding whether or not to propose a merger to our respective memberships.
As part of our continuing due diligence, each credit union will encourage broad participation by engaging our employees and members prior to making any formal decision. We will be conducting surveys and town hall meetings, with many opportunities for questions and input to be shared.
How can I learn more?
We are committed to sharing information and keeping you informed along the way. Member engagement in the merger process is very important. Since this is in the very early stages of discussions, we will be creating a more formal framework to obtain your feedback and to provide information, progress updates and opportunities for questions & answers. Watch for more information here.
Better for Members
Members would enjoy the convenience of more branches, the expertise and knowledge of combined staff, along with enhanced products, services, and technological solutions. In addition, the new credit union would eliminate duplicated costs and take advantage of more economies of scale. These efficiencies would put the credit union in a stronger financial position long-term and allow for future investment, continued competitive rates for our members, and enhanced patronage payouts to the collective membership in the future.
Better for Employees
The new credit union would provide more opportunities for employee development across a broader network, and with more diversified roles than is currently available today. This diversity would offer personal advancement and growth prospects, or the chance to specialize in a role, or to gain deeper understanding of operations in the organization without the need to relocate. Staff would have elevated back-up support and coverage during vacations or in an emergency.
Better for Communities
The new credit union would be stronger financially than either of the credit unions individually, with the capacity to support communities with new services and resources (e.g. online and mobile services, larger commercial support and opportunities, and local outreach initiatives).
- Our members
- Our employees
- Our communities
- Common heritage
- Steady, strong financials
- Community investment
- Enhance products, services, and patronage program
- Offer more and diverse career opportunities
- Improve technology solutions