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Great Lakes Credit Union has everything you need to help manage your money and plan for the future.
We’re thrilled to share that as of June 1, 2024, the merger between encurage financial network credit union (EFNCU) and GLCU is now official. This exciting partnership brings expanded products and tools, increased convenience, and a stronger impact on our community. Our primary focus is ensuring that as members, you all have everything you need for a successful financial journey.
Here’s what you can look forward to as a valued GLCU member:
Important Note: Rest assured; your existing accounts will not be immediately impacted. You’ll continue to use your current account numbers, debit cards, and digital banking login information until the conversion is complete on November 30, 2024.
As we embrace this exciting new chapter together, we remain deeply committed to providing you with exceptional financial services and experiences. We’ll keep you informed with regular updates as we work to integrate our services and expand our commitment to you and your community. Thank you for your continued trust and support.
No, the combined credit union will continue to serve the Greater Chicago Area. All EFNCU members will automatically become members of the combined credit union.
GLCU has lower or no fees on many services, so you’ll likely save money. We’ll provide a full fee overview closer to the system integration.
For now, you’ll continue using the same website (firstfcu.org), online banking, and mobile app as always. We’ll give you plenty of notice before any changes happen later this year.
Yes! You’ll gain immediate access to:
Even more products and services will become available later this year.
Both credit unions sought a partner that shares our passion, dedication, and loyalty to our teams, members, and communities. We found that in each other! By merging, GLCU and ENFCU can expand our reach to more individuals and families in need of financial services and education.
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.
Both credit unions recognize the value of our talented teams. EFNCU employees will become part of the GLCU team, and we are committed to retaining that talent and leadership.
Absolutely! The boards of both credit unions unanimously approved the proposed merger and are incredibly excited about the growth and benefits it will bring to our members, employees, and communities.
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 EFNCU’s community programs through the GLCU Foundation for Financial Empowerment. Together, we’ll serve over 94,000 members and hold approximately $1.5 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 EFNCU’s partner credit unions through advisory councils to ensure we remain close to all members and communities.
This partnership will offer employees increased career development opportunities and specializations while maintaining a positive, collaborative culture. We’ll also establish best practices and systems, providing employees with the resources they need to excel in their roles.
This merger will offer members:
No, the combined credit union will continue to serve the Greater Chicago Area. All EFNCU members will automatically become members of the combined credit union.
Great news! ENFCU members have voted to approve the merger with GLCU, and we’ve secured all required regulatory approvals. We’re now focused on finalizing the merger process, with Legal Day 1 set for June 1, 2024. Stay tuned for more updates as we get closer to this exciting milestone.
We’re working hard to make this a seamless transition. As the merger progresses, we’ll coordinate the consolidation of our systems and minimize any downtime for members. We are committed to keeping you informed every step of the way.
Fixed-rate loans and deposit products will remain the same. For variable-rate accounts, we are committed to offering competitive rates.
Have more questions? Please contact us!