We wanted to take this opportunity to share some answers to questions that members may have regarding the recent merger announcement. Please contact a C1CU branch should you have additional questions.
Q: How will the merger affect my service?
A: We will be blending the services of the two credit unions so that we can offer you the most up to date financial services in the industry. Please keep in mind that all of the services that you have come to enjoy will continue to be available for your convenience.
Q: Was either credit union in financial trouble?
Q: Is my money safe?
A: Yes. The funds of all Community One Credit Union members are federally insured by the National Credit Union Administration up to at least $250,000.
Q: Who will lead the new Community One Credit Union?
A: Evelyn Canterbury, the current President/CEO of C1CU.
Q: Will there be layoffs?
A: No layoffs are planned or anticipated. Employees will also retain benefits.
Q: Are you going to close my branch?
A: No. In addition, hours will be expanded to 8:30 - 5:00 pm Monday - Thursday and 8:30-6:00 pm on Fridays.
Q: When will I be able to start using Community One Credit Union branches?
A: Members will be able to begin using C1CU branches effective June 30, 2017.
Q: How will I receive notification if there are any changes to my account?
A: Members will continue to receive updates via mail, newsletters, statements, websites, brochures & email.
Q: When will I start to notice a change?
A: All changes will take effect June 30, 2017.
Q: Since we will be bigger, will we operate like a bank?
A: No. We will stay a nonprofit, member-owned financial cooperative and serve members in the traditional credit union manner.
Q: What is the advantage of being bigger?
A: Combining the best of both organizations means a credit union with expanded products& services, more financial assets, combined technology and expanded diversification of membership.
Q: Will the changes cost members (e.g., new checks)?
A: No. Members will not incur costs.
Q: Will my account number(s) change as a result of the merger?
A: No. Account numbers will remain the same.
Q: Will my direct deposit continue to post to my account(s) without interruption?
Q: Will my current loan or certificate rate change?
A: The rate on your fixed rate loan or share certificate will remain the same until the end of the term. Any renewals or new loans will be subject to current rates.
Q: Will my MasterCard Debit Card, ATM card and Bill Pay still work?
A: Yes. ATM & Debit Cards will be reissued as EMV chip cards at a later date.
Q: I am a member of both Canton Police & Firemen’s Credit Union and Community One Credit Union. Can I combine accounts? Can I keep them separate if I wish to do so?
A: You may maintain separate accounts. However, if you wish to combine them, you may do so once the computer systems are combined on June 30, 2017.
Q: Will there be any changes to the fees charged by the credit union?
A: There are no plans to increase fees, however, any changes that are made will be done in the best interest of the majority of our combined membership.
Q: Will I be able to continue to use my checks or will I have to order new ones?
A: If any changes are made that result in your current checks becoming obsolete, you will be notified well in advance. Should this occur, you will not incur any cost for the new checks.
Q: Will the passwords I use to access my Home Banking change?
A: Yes. You will have to re-enroll in Home Banking.