CMECU Merger

Yes, this transition will require a change to account number structures. We will work to minimize any changes made to accounts. We understand that this type of change may cause disruption, so our commitment is to make any transition as smooth as possible so that you experience no hiccups in accessing your accounts. You will receive a detailed transition schedule and documentation with all the information you may need in October.

Note:

• Each new account will be assigned a new GLCU account number using the prefix “350” for accounts with 5 digits and “3500” for accounts with 4 digits
  • Ex: Old Account 98765, New Account 35098765.
• Members must update any relevant payment or routing details to ensure direct deposits, withdrawals and other items will be posted to their new GLCU account.
• Direct deposit forms and the member’s new account have been mailed with this call to action

Due to Chicago Municipal Employees Credit Union’s declining net worth position, the decision was made for CMECU to merge with Great Lakes Credit Union (GLCU). Merging with GLCU will position CMECU for sustainable growth, which will benefit its members. CMECU’s net worth will be retained in full in the merger, and GLCU will preserve CMECU’s legacy by operating in partnership within GLCU. 

Together, we’ll increase our community investment, building on the 4,000+ volunteer hours and $30 million in community assets already saved, and enhance our resources to develop innovative programs that support financial well-being throughout our communities.

In late October, you will not be able to use your current checks. Please stop writing checks on your CMECU account by October 24, 2025 to ensure your checks have time to clear your CMECU account. A new GLCU checkbook will be sent to active check-writers in October and will be able to be used beginning November 1, 2025.

Note: While we recommend that members stop writing checks on their CMECU account by October 24, 2025 to prevent any outstanding transactions, members may still use their CMECU checks if it is necessary between October 24 and November 1, 2025.

This merger allows us to implement best practices for greater positive impact on our members, employees, and communities. We’ll expand our branch network across the Chicago area, increasing our responsiveness to members’ financial needs. Additionally, this partnership will allow us to expand CMECU’s community programs through the GLCU Foundation for Financial Empowerment. Together, we’ll serve over 100,000 members and hold approximately $1.6 billion in assets, creating a stronger combined organization.

As a larger credit union, we’ll have more resources for continued growth and innovation. This translates to even more benefits for members, such as expanded product and service offerings, new technologies, and enhanced services. We’re committed to preserving the unique identities of CMECU’s partner credit unions through advisory councils to ensure we remain close to all members and communities.

What are the benefits related to this acquisition?

• More Access: Expanded branch locations and enhanced digital services.
• Expanded Products/Services: A wider range of financial products and services to meet your needs.
• Greater Responsiveness: Enhanced ability to adapt to evolving financial needs.
• Improved Technology: Continued investment in the best digital banking solutions.
• More Branches: A combined network of 22 branches across the Chicagoland area.
• Familiar Faces: The same knowledgeable and friendly staff you know and trust.

Members will qualify for Safety Net, Zelle, and other services using GLCU’s existing qualifications starting day 1 on our system.

This merger will offer members:

1. • More Access: Expanded branch locations and enhanced digital services.
   • Expanded Products/Services: A wider range of financial products and services to meet your needs.
   • Greater Responsiveness: Enhanced ability to adapt to evolving financial needs.
   • Improved Technology: Continued investment in the best digital banking solutions.
   • More Branches: A combined network of 22 branches across the Chicagoland area.
   • Familiar Faces: The same knowledgeable and friendly staff you know and trust.

CMECU Online & Mobile Banking were taken offline at 8pm CT Friday, October 31. GLCU Online & Mobile Banking enrollment will be available in the afternoon on Saturday, November 1.

Depending on your situation, here’s what you need to know:

If You’re a City of Chicago or City Colleges of Chicago Employee with Payroll Deduction: There is no action you need to take at this time. If you have deductions set up through your employer, those will be processed same as they are currently.

If You’ve Made Changes to Your Direct Deposit Information with City of Chicago: Your payroll will process, but your pay will be issued to you via a check in the mail for the first pay period.

If You Have Direct Deposit and You’re NOT a City of Chicago Employee: Please update your account and routing information with any companies where you have ACH deposits (and withdrawals) set up. While all transactions will automatically transfer to GLCU starting Monday, November 3rd, updating your information will help prevent any potential posting delays as your information has changed.

Please use this information to update your direct deposit details prior to the conversion date of November 1, 2025.

Yes! You’ll gain immediate access to:

1. • Money Mammals®
   • Credit Builder Loans
   • Health Savings Accounts (HSAs)
   • Business Banking Solutions
   • Financial Counseling

Even more products and services will become available later this year.

As part of our systems integration scheduled for the afternoon of November 1, 2025, we will review all services provided to members, including service charges, to make sure we provide consistent, low-cost access to the most innovative financial services. If any service charges/fees increase or change we will provide at least 30  days prior notice of any changes. To review GLCU’s current service pricing information, please visit our Fee Schedule. Savings rates are subject to change at any time.

Yes. As part of the merger, CMECU credit cards were closed on July 31, 2025 and any remaining balance will need to be repaid in accordance with the terms of your existing credit card agreement. You can apply for a new GLCU Credit card online by clicking here or by applying in one of our branches. If you would like to apply for a personal loan to refinance the credit card balance, please visit your local branch, call us at (800) 982-7850 or apply online at https://www.glcu.org/borrow/personal-loans/.

Note: CMECU credit cards expired 7/31/2025 and members were offered credit card options with Elan, which included a 0% introductory APR for 18 billing cycles. 

Yes, you will need to update ACH transactions (credits and debits, including direct deposits, debit card payments, direct payments, Person to Person payments, scheduled transfers, bill payments, etc.). You are able to use the Payroll Deduction Form for direct deposit authorization. You will need to contact any business with whom you execute ACH payments or deposits to provide GLCU’s routing number (#271984832) along with your new account number with an effective date of November 1, 2025. CMECU members may continue to use Bill Pay to make payments through the end of the day on October 31, 2025. Any future or pending payments will be processed throughout the conversion period and carried over. Bill Pay limits will increase at the time of conversion to match GLCU’s limits. CMECU members will be able to set up Bill Pay transfers to other financial institutions after the conversion. Payments that cannot be sent electronically through Bill Pay will be sent by check. These payments will be immediately deducted from your account, instead of at the time the draft clears.

CMECU debit cards were usable through end of day October 31, 2025. Those debit cards are unusable after October 31. A new GLCU tap-to-pay Visa™ Debit Card arrived at your address on file by October 31^st. You are now able to activate this new card by calling 866-902-6628, and selecting option 1 to activate, beginning on November 1, 2025 in the afternoon.

If you are experiencing issues with your newly issued Debit Card please call our contact center at (800) 982-7850 when we re-open 8:30 AM Monday, November 3.

Note: Overdraft transfer protection from the S01 Share Savings will be set up for all Checking accounts as a part of the conversion. Beginning the afternoon of November 1st, 2025, members will have the ability to Opt-In their debit card for overdrafts at a terminal. On this same day, members will be able to qualify for Safety Net.

You will access a different online and mobile banking system. CMECU Online & Mobile Banking were taken offline at 8pm CT Friday, October 31. GLCU Online & Mobile Banking enrollment will be available in the afternoon on Saturday, November 1.

Please make note of any recurring external transfers, as these will not transfer as a part of this conversion. GLCU will provide you with access to digital services through the new online and mobile banking channels beginning on November 1, 2025. Recurring bill pay transactions and payee history will be transferred to your new Online Banking account after conversion. An overview of GLCU’s digital services along with registration instructions will be sent to you in October prior to the transition. To access your GLCU accounts digitally, you will need to enroll using the email address on record at CMECU. If your email has changed since becoming a member, please contact CMECU prior to October 31, 2025 to update your email address for successful GLCU digital enrollment.

October 2025 will be your final account statement from CMECU, which you can expect to receive an e-statement by November 7^th and physical statement by November 15^th. Beginning with the November statement cycle, GLCU will generate and deliver your account statement using your chosen delivery method (paper or online). If your account is a savings-only membership, you will receive a quarterly account statement after transitioning to GLCU. Your account changes and statements will feature a new, updated design.

Great Lakes Credit Union is insured by the NCUA (National Credit Union Administration) through the NCUSIF (National Credit Union Share Insurance Fund). NCUA Insurance is structured similar to FDIC Insurance. Your deposits will continue to be federally insured to the maximum amount available, currently, to at least $250,000 per depositor, and backed by the full faith and credit of the United States Government. Credit union members have never lost a penny of insured savings at a federally insured credit union. Go to NCUA’s website at www.ncua.gov for more detailed information about deposit insurance.

We will continually review our hours of operation in all the regions where we operate in order ot best serve our growing membership. For updated hours, please visit our Locations page.

If a member indicates they have closed their account but received merger-related communications, please first confirm the account’s status. If the account is indeed closed, reassure the member that they can disregard any further merger communications.

Note: In some cases, members may have closed their accounts after the list of existing accounts was sent to our marketing team. Once you verify the account is closed, you can assure the member that they no longer have an active account with us.

Your existing consumer loans will transfer to Great Lakes and will retain the same terms and payment calculations.

Yes, we are working with the credit bureaus to ensure a seamless update to credit reporting. The October credit report will still reflect CMECU tradelines. The November credit report will be updated to show the transfer from CMECU to GLCU.

Yes, we are working with our service providers to ensure no disruption to Collateral Protection Insurance (CPI) coverage. Follow this link to assist with Vehicle Insurance Questions https://www.glcu.org/borrow/vehicle-loans/proof-of-vehicle-insurance/

To upload a copy of your auto insurance policy, visit this link: https://www.myinsuranceinfo.com/

All certificate products will retain their rate structure and term when converted to Great Lakes. 

Yes, you will have access to your funds on May 31, 2026. Additional information and communication will be provided after the merger.

Your recurring payments won’t automatically switch to your new GLCU debit card. Starting November 1, 2025 in the afternoon, you’ll need to update your payment details with each company or service you use. If you don’t update your information, some recurring or preauthorized payments may still be processed and posted to your account for up to six months.

Any transactions that were preauthorized or made with your CMECU debit card before the transition to GLCU will still be processed. Please note that transaction descriptions and dates may appear differently than usual, as the data may be received in a slightly different format.

GLCU’s routing and transit number is 271984832.

You will access a different online and mobile banking system. Please make note of any recurring external transfers, as these will not transfer as a part of this conversion. GLCU will provide you with access to digital services through the new online and mobile banking channels beginning on November 1, 2025. Recurring bill pay transactions, payee history, and all payees will be transferred to your new Digital Banking account after conversion. An overview of GLCU’s digital services along with registration instructions will be sent to you in October prior to the transition. To access your GLCU accounts digitally, you will need to enroll using your social security number and new account number. A current email address is required to complete enrollment. If your email has changed since becoming a member, please contact CMECU prior to October 31, 2025, to update your email address for successful GLCU digital enrollment.

Your direct deposit will not automatically transfer to GLCU. All ACH debit and credit transactions with your CMECU account will be processed through end of day October 31, 2025. To continue receiving direct deposits, you will need to transfer them to your new GLCU account. A direct deposit form, along with your new account number, has been mailed to you. Please use this information to update your direct deposit details prior to the conversion date of November 1, 2025.

GLCU can accept Payroll Deduction forms for both the City of Chicago and City Colleges of Chicago. Sample form can be found here. This is a fillable PDF that the member can complete, and sign. GLCU staff will process and send to City of Chicago payroll departments.  This can be used for brand new payroll deductions members want to start, it can be used for changing existing payroll deductions and it can be used for stopping payroll deductions.

For Direct Deposits – See their Payroll Department for those changes. GLCU provided a Direct Deposit form that can be used by the member and turned into their Payroll Department. Direct Deposits will come to GLCU by ACH.

Yes, the loan payment login process via PaymentVision currently will remain at https://web.paymentvision.com/cmecuonline/login.aspx