Why are Acadia FCU and EMMC FCU merging?
This merger will provide a new, separate economic area to draw from for future growth. In addition to this, there will be more products, increased services, and more loan choices, plus variable real estate loans and business loans. We will also enjoy new growth opportunities and be able to serve the surrounding communities with an expanded field of membership. Economies of scale will allow for greater cost savings and sharing. All in all, the two credit unions match up very well with regards to member service and philosophy on what a credit union means to its membership.
Why is EMMC FCU merging with Acadia FCU, as opposed to another credit union?
Acadia FCU wants to form a strategic alliance with EMMC FCU as a way of expanding services to our joint credit unions, while working together during the merger process. Also, Acadia has a proven track record of successful mergers, having grown through the merger of six smaller community credit unions. Several of Acadia’s professional staff have the experience of past mergers to draw from, which will help ensure that everythin­­­g goes well. EMMC FCU will benefit from Acadia’s strong capital reserves as we continue working to grow our membership. In addition, Acadia’s management team has deep industry experience and will never cease to nurture our positive culture, while focusing on continued growth and member service. Furthermore, EMMC FCU members will have representation on the new joint board of directors.
Will there be a name change?
This merger is uniting two credit unions together into one, and the Acadia name will continue. It was jointly decided that EMMC FCU would operate as Acadia FCU as a result of uniting the two credit unions.
Has Acadia done this before?
Yes we have. Acadia FCU is the result of several credit unions that all form part of the one great institution that you’ve come to know. Many of our professional staff have the experience of several mergers to draw from and will make sure that everything goes well.
Will my accounts change?
No, your account will not change, but new services and products will be developed. New and future members will be able to select and benefit from these new offerings. Existing EMMC FCU members will get new account numbers to ensure there are no duplicate numbers across the newly-expanded membership.
Will Acadia get too big and lose the great service we love?
Our dedication to our members is one of our prime motivators in all that we do, including this merger. We want to not only continue the relationships that our staff have with our members, but expand that service approach to the greater Bangor / Brewer area. Joining with EMMC FCU will help since they have the same approach to member service.
How will Acadia FCU staff be affected?
Everyone will continue to work in their same locations and perform the duties they are accustomed to. You will be able to continue to rely on the great staff that you know and trust at both institutions.
How will EMMC FCU staff be affected?
All existing EMMC FCU staff will continue employment with Acadia FCU. They will also have access to more training and development and will enjoy Acadia’s robust benefit package. This merger will also create new opportunities for career development and advancement, while plans to grow staff will provide new job opportunities in the greater Bangor area.
How will EMMC FCU members be affected?
Existing members will continue to deal with the same great staff, but with the added benefit of access to increased products and services and additional locations. Both credit unions will work to minimize the transitional impact on EMMC FCU members while many services and back-end processes are enhanced. Members will enjoy future stability and will grow with Acadia FCU -- a proven and solid leader in the credit union industry.
Will I be able to do my business at the locations in the Bangor area?
Yes. This will be one of the benefits for all members. Once the merger is completed, Acadia will have full-service branches not only in Aroostook County, but also in Bangor and Brewer.
When will the merger be finalized?
The next step in the merger process is to receive regulatory approval from the National Credit Union Administration (NCUA), which is currently pending. Once the approval is received, the members of EMMC FCU will give final approval by voting on the new partnership, according to federal regulations. We expect the two organizations to begin operating as one on November 1, 2017.