(Woodbury, MN – January 31, 2017) Ideal Credit Union is excited to announce the merger/partnership of Employees First Credit Union (EFCU) in a deal finalized by the boards of both institutions, and approved by the National Credit Union Administration (NCUA) and the Minnesota Department of Commerce.
Members of EFCU voted overwhelmingly during a Special Meeting last October to merge with Ideal Credit Union, effective January 1, 2017. The merger brings EFCU members greater value and convenience from their credit union membership, including:
- More branches – Ideal has 6 conveniently located branch locations in Eagan, Hugo, Inver Grove Heights, North St. Paul, Stillwater and Woodbury
- A broader array of products and services – including Debit Rewards, Credit Cards, Checking, Mortgage and Title Services, Investment Services, and more
- Full suite of electronic banking services including online banking and bill pay, mobile banking, mobile check deposit, MasterPass Digital Wallet, Apple Pay, Samsung and Android Pay
- Competitive rates
- Annual VIP+ patronage dividend payback to members
- Community support and outreach
- CO-OP Shared Branching, which enables members to visit thousands of branches and ATMs at participating credit unions across the country at no charge
A $250 merger dividend was paid out to every EFCU member in good standing. The EFCU office at 2250 Wabash Avenue in St. Paul will be rebranded and remain open. All EFCU employees have been retained and are now part of the Ideal team.
“One of Ideal’s primary goals is to help members ‘Live the Ideal Life’ by providing excellent member service along with competitively priced products and services to meet all of our member’s financial needs,” said Ideal CU President/CEO Brian Sherrick. “We are excited to bring the ‘ideal difference’ to EFCU members and their families through this merger/partnership.”
Founded in 1926, Ideal Credit Union is a member owned financial institution that specializes in providing excellent member service, great rates and convenience to 50,000 members. Ideal CU offers a complete range of services, including a full suite of electronic banking products, savings, checking, loans, mortgage products and title services, exclusive VIP member payback, business services, investment services and more. Visit idealcu.com for details and locations.