NPM Credit Union Proposed Merger with Fox Communities
Members, please check your mail for important information on the merger. We ask for your support and vote in favor of this recommendation.
The Board of Directors has concluded that the proposed merger is desirable & in the best interest of members because regardless of our marketing efforts over the years, our membership continues to decline. This situation makes it difficult for us to remain competitive with rates, keep up with the increasing compliance issues, & offer the most current technology. In addition, our President/CEO is planning to retire after 38 years of dedicated service to the credit union.
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.
Why Fox Communities Credit Union?
Your board has carefully considered various options and chose Fox Communities Credit Union because they felt it was the best fit, following a similar family-like culture to ours, and offering a great variety of products, services, and conveniences for you.
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.
Please refer to the letter you will receive in the mail for more details and information. NPM Credit Union will continue to update our members as new information arises. The board and staff encourage our members to vote Yes on this merger, for the benefit of everyone. Feel free to contact staff at the credit union for any questions you may have.