Members Approve Merger
Last Updated: August 15, 2018 – check back often for new information
The membership of Everett Credit Union and the membership of MembersPlus Credit Union have voted in favor of merging Everett Credit Union into MembersPlus Credit Union.
This mutually beneficial merger will combine two credit unions that share the same focus on community-based banking and similar core values. Members of both credit unions will benefit from a larger branch network and increased financial product and service options.
All branch locations from both credit unions will remain open. After the merger, MembersPlus will be 6 branches strong, with locations in the towns of Everett, Medford, Dorchester (2), Norwood, and Plymouth.
“We’re stronger together,” said MembersPlus President & CEO, John Murphy. “With combined resources, we can offer a greater selection of products and services while still providing exceptional member service that both memberships have come to rely on from people they know and trust.”
What Everett CU Members Need to Know:
There is nothing you need to do at this time as the merger is still pending approval from state and federal regulators.
Once the merger has been approved you will receive communications regarding the next steps to ensure your accounts move accurately and the experience is as pleasant as possible. To receive communications as quickly and as efficiently as possible, please ensure your email address on file at Everett is accurate.
Your best interests are our top priority and we will be working diligently to make the process go smoothly. MembersPlus is excited to welcome you and can’t wait to get to know you!
What MembersPlus CU Members Need to Know:
The merger will have no impact on how you manage or access your accounts and services. You will benefit from:
- An additional branch location in Everett (650 Broadway).
- NEW! Student Loan products and services! Stay tuned to learn more after the merger is complete.
- A larger membership with greater financial resources to help you achieve financial success.
Frequently Asked Questions:
I’m a member of Everett Credit Union. What do I need to do?
At this time, no action is required by the members of Everett CU. The merger is still pending approval from state and federal regulators.
I’m a member of both Everett Credit Union and MembersPlus Credit Union. What do I need to do?
At this time, no action is required by the members of either Everett CU or MembersPlus CU. The merger is still pending approval from state and federal regulators.
How will I know when I need to take action?
All members will receive communication when it is time to take the next steps. To receive communication as quickly and efficiently as possible, ensure that your email address is accurate with the credit union you currently belong to. If you belong to both Everett and MembersPlus be sure to update your email at both credit unions.
Why is Everett Credit Union merging with MembersPlus Credit Union?
Despite its growth over the years, Everett leadership has realized that staying relevant in today’s highly competitive, FinTech dependent environment requires greater resources and capacity than the $50M credit union has at their disposal. “We don’t think of it as the end,” said Everett Interim CEO, Janis Caines. “This merger brings great opportunities to expand the team of people we work with to continue the meaningful work we do for our members. We’re excited to join MembersPlus and further our reach and impact.”
Will the Everett CU branch remain open after the merger?
Yes, the current Everett branch located at 650 Broadway Everett, MA 02149 will remain open, and the friendly Everett staff will remain the same. Once the merger is complete, MembersPlus membership will also have full access to this branch and be able to use all services provided at this location.
Which branches can MembersPlus and Everette CU members use today?
Because of shared branching, MembersPlus members can use the Everett branch now. Everett members can also visit any of the MembersPlus branches. Both Credit Unions are members of the CO-OP shared branching network. This means all members can make a deposit, withdrawal, and loan payment at any of these locations. Once the merger is complete, all banking services will be available to all members at all branches. This will include the Everett branch located at 650 Broadway Everett, MA 02149 and all MembersPlus branch locations shown on this branch location page.