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University CU (UCU) and Changing Seasons FCU announced an agreement to merge, welcoming Changing Seasons FCU members and staff to UCU, pending regulatory and membership approval later this year.
The combined credit unions will continue as University Credit Union, based out of UCU headquarters on Main Street in Orono. Changing Seasons FCU’s seven employees, including Changing Seasons President and CEO Rob Picard, and all of its members will join UCU upon completion of the merger.
“As separate institutions founded within a year of each other in the 1960s, serving members throughout the Greater Bangor region for more than 50 years, UCU and Changing Seasons share many roots, relationships, core values, and commitment to the credit union movement,” said Renee Ouellette, President and CEO of UCU. “By merging, we are stronger and better positioned to fulfill our purpose-driven mission: to help Maine people and communities advance their financial wellbeing. We are thrilled to welcome Changing Seasons members and employees to UCU later this year.”
Rob Picard, President of Changing Seasons FCU, explained the decision-making behind the change.
“The decision to merge into UCU resulted from careful consideration by our board of directors on how best to serve members’ evolving needs for financial products and services as a small credit union. The board identified UCU as an ideal voluntary merger partner, and both institutions are moving forward with the merger process. We are very excited for the opportunities this will create for our members, who will have access to a wide range of credit union products, services and technologies and continue to enjoy the same warm, welcoming credit union experience they have come to expect.”
For current UCU members, there will be no change, as UCU and its operations will remain the same. UCU members can find more information at www.ucumaine.com/changingseasons. For Changing Seasons FCU members, there will be changes, including increased availability of local branches, ATMs, financial products and services, and many more immediate benefits of UCU membership. The credit union’s members will receive further communications and should follow www.changingseasonsfcu.com/ucu for the latest information and updates.