Andigo Credit Union and Consumers Credit Union Merger Update

Andigo Credit Union is now a Division of Consumers Credit Union

 

Andigo Credit Union has legally merged with Consumers Credit Union.  Although the merger is effective June 1, 2020, credit union members will not see noticeable changes as both credit unions work together on integrating all products and services.  We anticipate being fully aligned as one organization in 2021.

The combined credit union will eventually operate under the Consumers Credit Union name.  In the interim, Andigo Credit Union will be operating as Andigo Credit Union, a Division of Consumers Credit Union.

All credit union members will continue to access accounts and services as they are accustomed, and of course, can open new accounts and products as they always have.  All current locations will remain with personal service provided by the same friendly faces and familiar voices, ready to serve. 

It is important to note, for members who maintain deposit accounts with both Andigo Credit Union and Consumers Credit Union, the federal deposit insurance coverage is consolidated under Consumers Credit Union for all combined deposit accounts.  In the instance you have or decide to open new accounts at either location, the maximum level of federal insurance applies to the combined totals of your deposit accounts regardless if they are held at Andigo Credit Union or Consumers Credit Union.

Deposits are insured up to the maximum level of federal insurance available to credit unions. This protection includes $250,000 of federal insurance from the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. The National Credit Union Administration (NCUA) manages the NCUSIF.

At Andigo Credit Union, Excess Share Insurance Corporation (ESI) provides an additional $250,000 of deposit insurance coverage, for a total of $500,000. Please note that although ESI will not be offered for new accounts opened after May 31, 2020, coverage will continue to be provided to Andigo members with qualifying deposit accounts that are on record as of May 31, 2020. This includes any certificates of deposit that renew to corresponding terms after May 31, 2020.

Both credit unions are very excited about this historic transformation.   The combined resources and financial strength of the two credit unions will reinforce the continued commitment to offer the very best in financial services, the latest, safest technologies, and service second to none.  

More updates will be communicated regarding the merger as they become available.