NPM Credit Union Merger with Fox Communities Credit Union was approved by members.
Thank you for your support!
Watch our website for details of what happens next.
Please be sure to watch your US Mail and our website for future information.
Thank you again for your support and trust that you place in your board and management team. We really appreciate it!
We will be providing more information on all the new products and services that will be available to you. We are excited to move forward with the merger hopefully by the end of May.
What is next?
A letter will be sent to all members containing information about the merger. You will be notified of important dates, how your accounts will transfer, fee changes, and online banking sign-up.
What can we expect?
Some of the changes you can expect are:
- Account Numbers– Additional numbers will be added to everyone’s account number to fill a requirement on the length needed for the new system.
- Checks- NPM checks will continue to work for a limited time after the merger.
- Debit Cards– New debit cards will be mailed to existing card holders prior to the merger.
- Routing Number– Eventually the routing number will change.
- Direct Deposits & Automatic Withdrawals– Direct deposits will need to be updated with new account & routing numbers.
Other Frequently Asked Questions
Will the 900 N. Jackson Street location remain open?
Yes, and you will also have access to many other convenient locations.
Will I still see my favorite employees?
Absolutely! All employees are guaranteed jobs, same or better pay, benefits, and opportunities.
What will happen to my accounts?
Your accounts will all transfer, and your savings will earn a higher rate. You will have many more products and services with better rates.
What kind of rates does Fox have?
Fox Communities savings and certificate rates are typically higher than ours have been. Also lending rates are typically lower than we have had.
Distribution of Special Dividends to Members
The Board of Directors has determined to distribute a portion of Northern Paper Mills Credit Union’s net worth as a special dividend to members, primarily based on their length of membership. The projected total payout will be approximately $1.5 million. The Board of Directors of Northern Paper Mills Credit Union will determine the final formula based on a member record date of August 31, 2019.
NPM Credit Union will continue to update our members as new information arises. Feel free to contact staff at the credit union for any questions you may have.