It’s Time for RRCU + MCU
Our plan to merge with Missouri Credit Union has been approved by the National Credit Union Association.
Now the Missouri Credit Union members get to vote
Missouri Credit Union’s primary members will receive a ballot via mail to submit their approval.
After the legal merger is approved by Missouri Credit Union members, the credit unions will begin their work to combine members, accounts, and resources with an operational date expected later this year.
These combined teams will bring more member benefits, like
- Improved Account and Service Offerings
- Strengthened Talent and Technical Capabilities
- Increased access and additional branches
Frequently Asked Questions
Why are you teaming up?
Teaming up with Missouri Credit Union will multiply our staff expertise and resources, improve our service offerings, and strengthen our resources, talent, and technical capabilities.
It will also open membership to more people throughout the state. This increased service area and enhanced access is a win for our members and staff.
How will this impact the River Region Credit Union staff?
- No Terminations: This partnership will not result in job losses. Duties may be reassigned, and positions and responsibilities may change, but no jobs will be lost.
- Career Advancement: This will have a very positive impact on career pathing and advancement opportunities for staff. Our plan to add additional branches in Mid-Missouri and Springfield will further open the door for new roles and positions across the state.
Will our name be changed?
Our name will not immediately change, but the combined boards will approve a new name.
What benefits can we expect from the partnership?
Members will enjoy more access, more locations, and more service hours. Service enhancements will include:
- Improved Account and Service Offerings
- Strengthened Talent and Technical Capabilities
- Increased access and additional branches in Columbia
Are my deposits and accounts safe?
Absolutely! Your protected funds will not change. Both credit unions are administered by the NCUA (National Credit Union Administration), and your deposits are federally insured to at least $250,000.
If you have accounts at both Missouri Credit Union and River Region, NCUA allows six months to restructure accounts to ensure all deposits are insured.
Will my debit card continue working?
Yes. There will be no service interruptions to your debit card. However, be sure to verify the contact information on file for you is accurate so that when new cards are issued, your identity can be verified for card activation.
Will our CD rates change or stay the same?
As always, certificate rates will not change until maturity.
Will reducing competition via the merger negatively impact loan rates?
No. It will have a positive effect on the rates we offer our members. With our combined resources, our ability to maintain low loan rates and competitive interest rates will improve.
Will I have to order new checks? Or can I use the old ones?
Your current checks will continue to clear. If new checks are required, we will communicate this change well in advance.
Will dividend rates change?
Your dividend rates on current account types are not expected to change. If dividends adjust, changes would be disclosed to members in advance.
Will my member number remain the same or change?
Your member number will not immediately change. If changes are required to your member number, we will communicate this change well in advance.
What if I have accounts at both Missouri Credit Union and River Region Credit Union?
No problem! As we work through the account migrations, these accounts will remain separate. If you have accounts at both credit unions and wish to combine them into one account, please request to do so after all credit union systems have been converted.
Can I go to the other Missouri Credit Union branches?
We will communicate when you may begin using Missouri Credit Union branches to serve your banking needs.
Will my online/mobile banking login be the same or changed?
Initially, your online banking login credentials will not change. We intend to migrate to a combined online banking platform, which offers a robust suite of bill pay, mobile deposits, external account transfers, and more. We’ll communicate any action needed on your behalf well in advance.
Will I need to download a new mobile banking app?
Initially, your mobile banking app will not change. Once we migrate credit union systems, we’ll communicate any action needed to update or change your mobile banking app.
Will the fees be the same?
Some fees may adjust slightly. As usual, if any fees adjust, members will receive a full disclosure before it goes into effect.
Will my direct deposit stay the same?
There will be no changes to your direct deposits.
May I still use shared branching?
Yes, your access to shared branching across the nation will not change.
Will my loan rate change?
Your current loan rate and terms will not change. And you’ll retain access to competitive rates for new loans, as always.
What about my bill pay?
Bill pay will have no service interruption.
Can I still apply for a loan online?
Yes, loan applications will be accepted as usual and encouraged.