Meadows Credit Union Members Approve Merger with Consumers Credit Union
We are very happy to announce Meadows Credit Union members overwhelmingly approved the merger with Consumers Credit Union
. The vote was 86% in favor of the merge.
The Board of Directors and staff of Meadows Credit Union would like to sincerely thank all of our members who attended the Special Meeting Nov. 15th
, and to those who submitted their vote by mail.
Under the merger agreement, Consumers Credit Union will acquire Meadows Credit Union Dec. 1, 2017. Beyond offering a healthy, stable, and progressive credit union, benefits of the merger include:
- Free Rewards Checking account that pays up to 4.59% APY*on balances up to $20,000 plus unlimited ATM refunds. This yield is over 100 times the national average**
- Access to 10 Consumers Credit Union Service Centers in Northeastern Illinois, including MCU's existing branch at 2401 Plum Grove Rd., Palatine, IL
- Use of more than 1,800 nationwide shared branching locations and 30,000 surcharge-free ATMs through a credit union network powered by CO-OP
- A full suite of financial products and services such as mortgage loans, home buying service, business accounts, business loans, a variety of credit cards, wealth management, mobile check deposit, fraud alerts, money market account and certificates of deposit, to name just a few.
Our board considered this merger because we are confident Consumers Credit Union can provide the type of high value service our members have come to expect, along with an expanded array of services, advanced digital services, the convenience of additional branch/ATM locations, and a deep commitment to member relationships, said Ed Buettner, CEO of Meadows Credit Union.
Account Conversions Will Not Occur Until Later in 2018
Member account conversions to Consumers Credit Union will take place later in 2018. Until then, Meadows members can continue to use their Meadows accounts as usual. We will communicate conversion information when it is available and with ample time to plan and prepare for any account changes.
You'll Continue to Work with the MCU staff
During the Special Meeting and throughout the last few weeks, members have expressed their deep appreciation for our staff and relationships that they have developed with them throughout the years. We are incredibly grateful for the compliment and are happy we have fulfilled the credit union promise of putting members first. You'll be happy to know the MCU staff you have come to know will continue with Consumers Credit Union and will continue to serve you during and after the conversion.
If you have any questions or concerns, you may refer to our Merger FAQ
page, or submit your questions using our Secure Message Form
, or stop by the credit union lobby
to speak with a Financial Service Associate.
*APY - Annual Percentage Yield. Account qualifications apply.
**Rated one of the best checking accounts by NerdWallet.com