Merger Information

How we all benefit

  • Convenience: Members will now have access to a total of 7 branches.  At our combined size we would be able to consider expanded branch operations in the area and other improvements to be more convenient to our members.
  • Member Service: As a larger organization, we will be able to invest more in providing better service to our members.
  • Expanded/Improved products and services: Our larger size will allow us to consider many new and expanded products and services.
  • Technology: Improved technology through the latest offering in online and mobile banking.
  • Competitive loan and deposit rates: By taking advantage of economies of scale on operating expenses, we will be able to pass those savings along to you, the members, through higher dividends, lower loan rates, and reduced fees.
  • Employee opportunities: Greater employee career growth opportunities, training resources, and competitive employee benefits as part of a larger organization.
  • Communities: Increased community investment and involvement.

Frequently Asked Questions

Why is Federal Employees of Chippewa County Credit Union (FECCCU) and Chippewa County Credit Union (CCCU) pursuing a merger with U.P. State Credit Union?

Very simply, we want to bring members the best value from their credit union while ensuring we continue to grow and thrive. Partnering with another established credit union will significantly increase operating efficiencies so we will have the resources to deliver much more to CCCU and FECCCU members – with the same personalized service we have always provided.

What is exactly being proposed?

Members of FECCCU are being asked to approve a unanimous recommendation by your Board of Directors to merge into U.P. State Credit Union, pending regulatory approval.  The combined entity would be name U.P. State Credit Union. 

Will I still receive personalized service?

The reason our three credit unions are pursuing this merger is to better serve our members. You will continue to receive the same personalized service you do today.

How will members benefit?

A merger will provide the resources to better serve your financial needs through added branches and ATMs, well-developed online and mobile technologies, new products and services, and highly competitive rates. While nothing will change until member approval is received, this partnership will mean we can better anticipate and meet all your financial needs.

Will employees lose their jobs as a result of this merger?

No, the combined credit union will continue to provide career opportunities to all employees with no job reductions as a result of the merger.  The merger will provide increased opportunities for the staff.  U.P. State Credit Unions current CEO Raymond Theoret will lead the combined credit union along with the senior leadership team of all credit unions.

Will Chippewa County Branches and Federal Employees Branch remain open?

Yes, Chippewa County Credit Union and Federal Employees of Chippewa County branches will remain open. Eventually, the Federal Branch will be combined with the Chippewa County Credit Union Sault Ste. Marie Branch. U.P. States Credit Union’s existing Escanaba office will serve as the credit union’s main office.  There will be a total of 7 branches; Sault Ste. Marie (2), Kincheloe, Cedarville, St. Ignace, Escanaba, and Norway.    Members will still have access to the CO-OP shared branch network for credit unions. 

Will my accounts continue to be insured?

Your accounts will continue to be federally insured to at least $250,000.00, just as they are today through the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U.S. Government and managed by the National Credit Union Administration (NCUA).

What will happen to the Board of Directors? 

U.P. State Credit Union’s Board of Directors will continue to serve along with (3) three board members from Chippewa County Credit Union and (1) one Board Member from Federal Employees of Chippewa County Credit Union. In total, there will be (13) thirteen board members.  There will be additional committee seats filled by Chippewa County Credit Union and Federal Employees of Chippewa County Credit Union.  

What is the financial condition of the combined credit unions?

All three credit unions are financially strong and considered well-capitalized by the National Credit Union Administration, our federal regulator.

Why U.P. State Credit Union?

U.P. State Credit Union’s field of membership is attractive as it allows us to serve the entire Upper Peninsula.  With branches already located in Escanaba, St. Ignace, Norway and Cedarville it only makes sense to include Sault Ste. Marie to U.P. State.  U.P. State is a small credit union alternative that operates at a local level and not a corporate level. Most importantly they share our values and absolute commitment to serving members.  You can learn more about U.P. State Credit Union at    

Who will be eligible to join the combined credit union?

Membership will be open to all who live, work, or worship in the 906-area code.  Immediate family of current members also qualify for membership.

How will member accounts be impacted?

In the short term, members of all credit unions will experience no impact to their accounts or account numbers.  We will work to ensure a seamless integration, so you can conduct business as you always have, without any effect on your accounts.  We will need to eventually convert members from one credit union to the other’s operating system, but this is still under analysis and will not occur until a later time.

What are the next steps?

Each credit union will continue the due diligence process while obtaining regulatory approval from both the Department of Insurance and Financial Services and the National Credit Union Administration. Once we receive regulatory approval, a merger packet and ballot will be mailed to all members in good-standing.

What if I have additional questions?

We are here to answer your questions! Please don’t hesitate to contact us if you have any questions about this merger and what it means to you. We will also update this FAQ page as the process continues.

Your Board of Directors unanimously endorses this merger, and we encourage you to vote in favor when you receive your ballot.