Neighborhood Credit Union

Letter from the CEO: Merger with Dallas Federal Credit Union

Dear Members:

I am pleased to announce a significant milestone in our credit union’s history. Effective September 1, 2018, Neighborhood Credit Union will finalize a merger with Dallas Federal Credit Union bringing their 6,000 members into the Neighborhood family. With the completion of this merger, Neighborhood Credit Union will grow to approximately $720 million in assets and serve over 55,000 members in the Dallas-Fort Worth area.

The joining of the two credit unions will add two new locations in the Dallas area which will be available to Neighborhood Credit Union members this spring following a system upgrade to combine the operations. We will rebrand all Dallas Federal Credit Union locations to Neighborhood Credit Union branches over the next few months.

What does this mean for you as a Neighborhood Credit Union member? You will experience business as usual along with more branch convenience this summer once the operations are combined. Also, as a larger credit union, we will have more resources to deliver greater value and continue to bring you the world-class innovative products that you expect.

I know you may have other questions, so feel free to email them to admin@myncu.com or call the Member Service Center at 214.748.9393. In the meantime, I have included a brief Frequently Asked Questions (FAQ) document for your convenience.

Please join me in welcoming the Dallas Federal Credit Union members and employees to Neighborhood Credit Union. We are excited about this merger and the opportunities it brings for great things in the future. Thank you for your membership.

Sincerely,

Chet Kimmell

President/CEO

Neighborhood Credit Union

 

MERGER FAQs NEIGHBORHOOD CREDIT UNION MEMBERS

How will this merger benefit me? You will be a member of a larger and more dynamic financial institution with more resources. This will allow us to bring you more innovative products and service enhancements that offer ease and convenience while delivering them at a faster pace.

Will there be any changes to my account as a result of the merger? No. The merger will not affect your account.

Will there be a name change? No. We are Neighborhood Credit Union. All Dallas FCU branches will be rebranded as Neighborhood Credit Union.

Will there be a change in management of the credit union? Chet Kimmell, President/CEO of Neighborhood Credit Union, will continue to lead the organization as he has for the past twenty-four years. The employees of Dallas FCU will join us resulting in additional positions throughout various areas of the credit union.

Are my accounts still insured? Yes. Your accounts remain federally insured up to $250,000 by the National Credit Union Administration (NCUA) which operates the National Credit Union Share Insurance Fund (NCUSIF). The $250,000 in coverage applies to each share owner, per insured credit union, for each account ownership category.

Will there be any changes to the current products and services? Over the next few months we will review and compare the products and services of both credit unions to develop a joint product line. There will be no reduction in services for Neighborhood Credit Union members. In fact, we expect to launch some additional service enhancements.

Are any of the locations changing? There will be no changes to the current twelve Neighborhood CU branch locations as a result of the merger. In the spring following the system upgrade and combining of operations, we will add two new locations thereby increasing branch convenience.

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