As the competitive landscape in financial services continues to change, the team at NorthStar Credit Union is committed to delivering greater value to you, our members-owners, employees, and communities.
On behalf of the board of directors and our leadership team, I am thrilled to announce after months of collaboration, NorthStar Credit Union intends to merge with NuMark Credit Union, subject to membership approval.
The merger is planned as a partnership. Our collaboration gives us the best of both worlds. We will have the economies of scale to afford us a competitive advantage as well as the digital capabilities of a larger organization, while continuing the personal service of a local credit union. This partnership will also allow even higher levels of member value and community reinvestment.
The new credit union would have over 50,000 members and more than half a billion dollars in assets with 10 banking locations in the Chicagoland area. More importantly, all employees will be retained and Lloyd M. Fredendall, NorthStar’s current CEO, will become the CEO of the new organization.
Staff from NorthStar have worked alongside the NuMark team throughout the years. There is already a strong relationship and synergy among the leadership teams that will enable the credit unions’ cultures to come together naturally and further enhance our unified mission.
We understand there will be many questions; however, we are very early in this process and many details need to be finalized in order to bring you the best member experience possible. Below, you will find a link with answers to common questions we have experienced with prior mergers. We encourage you to check back regularly for updates, and ask you to please watch your mail for additional details including upcoming voting and meeting information.
Over the years, we have both built great credit unions. We owe it to you to continue to build on our strong foundations and ensure that we remain an industry leader for generations to come.
We appreciate your ongoing membership and support. Should you have any questions, please do not hesitate to contact us at email@example.com or call (630) 393-7201.
Joseph T. Joseph
Chairman of the Board of Directors