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  1. What is happening?
    SMACU and Heartland Credit Union (HCU) have agreed to merge.
  2. Why is this happening?
    It is increasingly difficult for smaller credit unions to remain viable in today’s environment. Joining Heartland will give our members the tools, products, and resources members expect.
  3. Is SMACU financially stable?
    Yes, we are financially sound, however due to ongoing issues recruiting and retaining employees and volunteers, coupled with the ongoing changes within the SSM Health network, have made it increasingly difficult to continue to offer high quality products and services to our members.
  4. Who needs to give approval?
    a. We have received regulatory approval from the State of Wisconsin Office of Credit Unions (OCU) and National Credit Union Administration (NCUA). Now, the SMACU membership will vote for their approval.
    b.The membership vote will take place from June 1st – July 21st.
  5. When will the merger take place?
    Once we receive approval from the membership, the anticipated date of the final merger will be September 1, 2023.
  6. What will the new name be?
    Heartland Credit Union
  7. How will this benefit our members?
    a. The merger allows the continuation of our locally owned and operated financial cooperative.
    b. It will bring added resources to offer greater levels of members service, value, and convenience.
    c. Members will have access to cutting-edge technologies as well as new products and services.
    d. There will be an additional 11 branch locations to serve you.
  8. What will happen to the staff?
    All staff will be retained and will have greater opportunities to expand their careers.
  9. Who will be the CEO?
    HCU’s Angela Hanson will be the CEO of the combined credit union.
  10. Will any branch locations be affected?
    No, all current branches will remain open.
  11. What will happen to my accounts, loans, certificates, etc.?
    a. Everything will be transferred to HCU on November 1st, 2023.
    b. More specific information will be coming.
  12. Will my account number change?
    More information will be coming. As we begin the data conversion process, we will be able to determine which account numbers will be affected with the merger.
  13. Is my money safe?
    Yes, both credit unions are insured by the National Credit Union Administration (NCUA) and deposits are insured up to at least $250,000 per individual.
  14. Will my rates change, or fees increase?
    a. Existing terms and rates for loans and certificates will not change.
    b. Both credit unions will be aligning pricing, including all rates and fees.
  15. Is anyone getting a payout from this?
    No. This decision is in our members’ best interest, giving us the ability to bring more value to those we serve.

*APR = Annual Percentage Rate. Subject to credit approval. Some restrictions apply. APY = Annual Percentage Yield. Membership eligibility is required. Federally insured by the NCUA. St. Mary’s & Affiliates Credit Union is an Equal Housing Opportunity Lender. St. Mary’s & Affiliates Credit Union is a full-service financial institution serving Adams, Dane, Iowa, Juneau, Rock, and Sauk Counties.