Financial Plus and Monroe Community CU: Creating more possibilities

Financial Plus Credit Union and Monroe Community Credit Union are excited to announce plans to come together through a proposed merger.

Built on shared values and a commitment to putting people and communities first, this partnership creates an opportunity to build an even stronger credit union while continuing to Be Local and create more possibilities for the members and communities we serve.

How members benefit:

• More branch access and convenience
• Expanded products and services
• Continued investment in digital banking technology
• Greater lending capacity
• Enhanced resources for community involvement
• A stronger financial foundation for future growth

What to expect?

• Nothing changes for you today. Your accounts, cards, and services will continue to work just as they do now.
• All branch locations will stay open
• 100% of employees will be retained

Learn more about what's ahead by reviewing our FAQs and press release. Can't find the answer you are look for? Email AskMCCU@monroecommunitycu.org.

FAQs

Press Release

FAQs

What is being proposed?

Monroe Community Credit Union and Financial Plus Credit Union have agreed to pursue a merger that would bring our two organizations together to create a stronger credit union for our members, employees, and communities. The merger is subject to regulatory approval and a vote of Monroe Community Credit Union members.

Why are the credit unions proposing a merger?

We believe this partnership creates even greater opportunities for our members, employees, and communities. Both credit unions share a commitment to putting people first, supporting our communities, and helping members achieve financial success. By combining our strengths, we'll be able to invest more in technology, convenience, products, services, and community impact while continuing to deliver the personal service our members expect.

How will members benefit?

Members will gain the benefits of a larger, stronger credit union, including:

• More branch access and convenience

• Expanded products and services

• Continued investment in digital banking technology

• Greater lending capacity

• Enhanced resources for community involvement

• A stronger financial foundation for future growth

When will the merger take place?

The merger can move forward after receiving regulatory approval and approval from Monroe Community Credit Union members. Additional information and key dates will be shared throughout the process.

Will my accounts or account information change?

Not right away. Members can continue banking as they do today, including using their debit and credit cards, checks, direct deposits, automatic payments, online and mobile banking, and loans. As planning for the combined credit union moves forward, we'll communicate any future updates well in advance and provide clear guidance to ensure a smooth transition.

What will the name of the combined credit union be?

Following the merger, Financial Plus Credit Union will be the name of the combined Credit Union. Together, we're building on the strengths of both credit unions while preserving the people-first values, community commitment, and local relationships members have come to trust. Our focus is on creating even more opportunities for members while honoring the legacy each organization brings to this partnership.

Will employees keep their jobs?

Yes. We are committed to retaining 100% of employees from both organizations. Our employees are one of our greatest strengths, and this partnership creates new opportunities for growth, development, and career advancement within the combined credit union.

Will branches remain open?

Yes. The merger is designed to expand member access and convenience. Members will benefit from a broader branch network of 20 locations while continuing to receive local, personal service.

Will MCCU’s community impact look different?

Our commitment to the community will only grow stronger. Together, we’ll have more ways to support the people, organizations, and causes that matter locally and continue living out what it means to Be Local.

Will the credit union still be committed to “Be Local”?

Yes. “Be Local” reflects our commitment to our members and the communities we serve. It’s also a call to action to support local businesses and nonprofits, help our neighbors, and get involved in making our communities stronger. Through this partnership, we see opportunities to build on that commitment, strengthen local relationships, and make an even greater impact together.

Are my deposits still insured?

Yes.  Your deposits will remain federally insured by the NCUA, just as they are today.

Will the Board of Directors include representatives from both credit unions?

Yes. The combined organization will include representation from both credit unions to help ensure continuity, strong governance, and a continued focus on serving members' best interests.

Will membership eligibility change?

No. There will be no disruption to existing membership eligibility.

Will the combined credit union be financially strong?

Yes. The combined organization will have over $2 billion in assets, a strong capital position, and the resources needed to continue investing in members, employees, technology, and our communities.

Is either credit union experiencing financial challenges?

No. Both Financial Plus and Monroe Community Credit Union are financially strong and well-capitalized organizations. This merger is about growth and opportunity, not necessity.

Do both Boards support the merger?

Yes. Both Boards support the merger and believe it will create meaningful long-term benefits for members, employees, and the communities we serve.

Where can I learn more?

We'll continue sharing updates throughout the merger process. Members are encouraged to visit our website for the latest information and answers to questions.