A Letter From the CEO
We recently reached out to our membership to vote on a strategic request to change the credit union’s state charter to a federal charter, as proposed by our Board of Directors and leadership team. I am excited to announce the conversion vote passed with an over 80% “Yes” response.
You may be wondering what this means, and what the next steps are.
This conversion has been approved by the New Hampshire Banking Department and the National Credit Union Administration (NCUA). Your credit union now has official approval for our federal charter to be effective, October 1, 2020.
All Service Credit Union deposit accounts will continue to be federally insured by our current federal government agency, the NCUA’s Share Insurance Fund.
Keep in mind: Once you are a member of Service Credit Union, you are always a member, until you close your account. Regardless of your location, we are here to serve you. We are always exploring better ways to provide you with enhanced services and products. Our online banking and digital services along with Shared Branching, provide ways to bank with us, no matter where you are.
Thank you to our members for participating in the vote to allow Service Credit Union to convert from a state-chartered credit union to a federally-chartered credit union. This conversion is an important and historical step forward as it will provide us with new opportunities for growth. Click here to view a list of frequently asked questions regarding the charter change.
We are grateful for your business and thank you for choosing us to serve you.
Service Credit Union President/CEO