We are pleased to share some exciting news! The Empower Credit Union Board of Directors has voted in favor of a proposed merger with Educators Credit Union.
By joining forces, Empower and Educators are not just merging assets, we are strengthening our unwavering commitment to you, our valued members. This partnership will bring you more convenient access with 23 additional branches across southeast Wisconsin, a wider range of products, services, and technology to keep pace with your evolving needs, and the professional and personalized service you have come to expect. Rest assured, the familiar faces at both of our branches will still be here for you, as Educators Credit Union has guaranteed continued employment to all Empower Credit Union staff as part of the merger.
Additionally, if the members approve the merger, Empower will distribute approximately $2.5 million of our capital to our membership as a special dividend. Each eligible member will receive up to $825 based on their length of membership. See Notice of Meeting of the Members of Empower Credit Union for details. We have also created a Merger with Educators Credit Union FAQ document that answers some of the other questions we think you may have about the merger and your accounts.
Our state and federal regulators have approved the proposed merger, and the next step is for our members to vote. To ensure the integrity of the process, we have engaged Doeren Mayhew, an independent audit firm, to tally the votes. You may cast your ballot by mail or in person.
To mail in your ballot: Fill out the “Ballot for Merger Proposal” that was mailed to you on November 1, 2024, and return it in the prepaid envelope. To be counted, your ballot must be received by December 13, 2024.
To cast your vote in person: Join us at our special meeting on December 16, 2024, at 5:00 p.m. at Empower’s West Allis branch (10635 W. Greenfield Ave, West Allis, WI 53214).
The Empower Credit Union Board of Directors believes this merger is the best path to providing the resources necessary to serve the growing financial needs of our membership. We truly value your membership and are committed to continuing to keep you updated and informed.
Sincerely,
Mike Brandt
President/CEO
Jared Peccarelli
Chairman
*APY is Annual Percentage Yield. Minimum deposit to open a Money Market or Money Market Plus is $5,000. Minimum balance to earn advertised rate is $250,000 in Money Market Plus. Rates are tiered based on balances and are subject to change at any time. ** Best rate claim based on survey of money market rates at credit unions with a Milwaukee location as of 8/25/2023. Federally insured by the NCUA. Empower Credit Union is an Equal Housing Lender. Empower Credit Union is a full-service financial institution serving Milwaukee, Waukesha, Washington, and Racine counties.
