UCU and Changing Seasons FCU Announce Intent to Merge
Hampden-based Changing Seasons FCU will join Orono-based University Credit Union
ORONO and HAMPDEN, Maine (April 1, 2024) – University Credit Union (UCU) in Orono and Changing Seasons Federal Credit Union (Changing Seasons) in Hampden today announced an agreement to merge, welcoming Changing Seasons members and staff to UCU, pending regulatory and membership approval later this year.
The combined credit unions will continue as University Credit Union, based out of UCU headquarters on Main Street in Orono. Changing Seasons’ seven employees, including Changing Seasons President and CEO Rob Picard, and all of its members will join UCU upon completion of the merger. UCU is one of the largest credit unions in Maine, serving members across the state with locations in Orono, Bangor, Farmington, Gorham, Portland, Presque Isle, Machias and soon, Augusta.
“As separate institutions founded within a year of each other in the 1960s, serving members throughout the Greater Bangor region for more than 50 years, UCU and Changing Seasons share many roots, relationships, core values, and commitment to the credit union movement,” said Renee Ouellette, President and CEO of University Credit Union. “By merging, we are stronger and better positioned to fulfill our purpose-driven mission: to help Maine people and communities advance their financial wellbeing. We are thrilled to welcome Changing Seasons members and employees to UCU later this year.”
Rob Picard, President of Changing Seasons Federal Credit Union, explained the decision-making behind the change.
“The decision to merge into UCU resulted from careful consideration by our board of directors on how best to serve members’ evolving needs for financial products and services as a small credit union. The board identified UCU as an ideal voluntary merger partner, and both institutions are moving forward with the merger process. We are very excited for the opportunities this will create for our members, who will have access to a wide range of credit union products, services and technologies and continue to enjoy the same warm, welcoming credit union experience they have come to expect.”
For current UCU members, there will be no change, as UCU and its operations will remain the same. UCU members can find more information at www.ucumaine.com/changingseasons.
For Changing Seasons members, there will be changes, including increased availability of local branches, ATMs, financial products and services, and many more immediate benefits of UCU membership. Changing Seasons members will receive further communications and should follow www.changingseasonsfcu.com/ucu for the latest information and updates.
About University Credit Union
Established in 1967, UCU is an innovative, full-service financial institution dedicated to promoting financial well-being for the individuals and communities it serves. UCU is one of the largest credit unions in Maine, serving members across the state of Maine with locations in Orono, Bangor, Farmington, Gorham, Portland, Presque Isle, Machias and soon, Augusta. As a not-for-profit financial cooperative, UCU returns its profits back to members in the form of lower loan rates, higher deposit yields, lower fees, and more solutions and services. For more information visit www.ucumaine.com.
About Changing Seasons Federal Credit Union
Changing Seasons is a Hampden, Maine-based federally chartered credit union establish in 1966 as Bangor Hydro FCU to serve Bangor Hydro Electric Company (BHE) employees. Today, CSFCU’s field of membership includes the towns of Bangor, Brewer, Hampden, and other communities in Penobscot and Waldo counties. FMI: www.changingseasonsfcu.com
