Merger Update

UPDATE: The member vote packets were mailed on May 7, 2024

To review the letter and notice included in the mailing, please view this document. The mailed packets include a letter to members, a notice of special meeting, a ballot and envelope to return the ballot to the independent third-party CU Ballot by June 24, 2024 at 5:00 PM. Please mail your ballot back as soon as possible. The special meeting of members will be held on June 24, 2024 at 5:00 PM at the credit union, located at 115 Mecaw Road, Hampden, ME 04444.

March 28, 2024

Member Announcement

Dear Valued Members,

We have important news to share with you about the future of Changing Seasons Federal Credit Union (Changing Seasons). After careful evaluation of our credit union over the past several years, it has become increasingly obvious that the cost of doing business for a small credit union has outpaced the ability to afford the next level of products and services desired by our members, leading us to explore a merger. Throughout the process to reach this moment, the Changing Seasons Board of Directors has been firm in its commitment to look after the best interests of its members and seek an institution that aligns with Changing Seasons’ purpose to successfully move forward.

The Board approached University Credit Union (UCU) as a voluntary merger partner and both institutions have moved forward with the next steps to finalize this process.

There will be changes with this merger, including increased availability of local branches, ATMs, products and services, and many more immediate benefits of UCU membership. The merger is pending regulatory and membership approval later this year, and more information will be shared on our website as it becomes available. Please see below for FAQs.

Rob Picard


Why is Changing Seasons FCU (Changing Seasons) merging with University Credit Union (UCU)?

To continue to provide our members with the best level of products and services, Changing Seasons decided to pursue a merger to renew its purpose while finding alignment with UCU to continue forward. As a small credit union, operational efficiencies are a significant challenge, causing the cost of doing business to outpace the ability to bring the next level of products and services our members desire and deserve. This merger will provide our members with extensive products and services, financial resources, and convenience.

What benefits will Changing Seasons members have?

Members will have increased availability of local branches, ATMs, products and services, and many more immediate benefits of UCU membership. UCU offers Kasasa Checking, business services, UCU Wealth Management, in-house serviced and decision real estate lending, an array of consumer lending options and more. The credit union also boasts a team of Certified Credit Union Financial Counselors that support members in their financial journey and provide resources including UCU’s online member education portal and other location and regional informational resources.

Who is UCU?

UCU is a local credit union established in 1967 right here in our community. UCU has its headquarters in Orono, with nine branches across Maine from Portland to Presque Isle. UCU is driven by its purpose to support the financial wellbeing of people and the community.

How are deposits insured at UCU?

At UCU, all member deposit accounts are insured up to $500,000; with $250,000 in insurance through the National Credit Union Association and $250,000 insurance through Excess Share Insurance, a level above what we offer today, and an additional coverage provided by UCU at no cost to members.

What are the reasons behind the merger?

In an increasingly competitive marketplace, and after careful evaluation of our credit union over the past several years, it has become increasingly obvious that the cost of doing business for a small credit union has outpaced the ability to afford the next level of products and services desired by our members, leading us to explore a merger.

What is the process for the merger?

There are two specific approval processes for this merger, regulatory approval, and membership approval. Both credit unions are awaiting preliminary approval by our regulators, followed by a membership vote and special meeting. Members will receive ballots by mail; ballots were mailed on May 7, 2024. Please mail your ballot back as soon as possible. The special meeting of members will be held on June 24, 2024 at 5:00 PM at the credit union, located at 115 Mecaw Road, Hampden, ME 04444. Upon both regulatory and membership approval the merger will be finalized on an effective date soon thereafter, and then the system integration will take place later this year.

How will the credit union operate after merging?

Changing Seasons will be merging into UCU effective later this year, and once the systems for both credit unions are fully integrated, UCU will operate as the resulting institution for members. Additional communications will be forthcoming to ensure you know what to expect.

What changes will occur for Changing Seasons members?

Members can expect changes to member benefits, and increased offering of products and services as well. Additionally, members will experience changes to their accounts, which are detailed below in the FAQ by product type.

When will these changes occur?

We are currently targeting the merger to be effective for July, and full conversion into UCU for November. There are a series of steps that need to take place to get both credit unions ready, and the timing may adjust slightly based on those steps.

Will the branch remain open in Hampden?

Initially the branch will remain open for a number of months, however we anticipate the branch will close by year end. UCU has multiple locations in the area including at 977 Union St. in Bangor to serve members. This location is less than a 5-mile drive from the Hampden branch.

What will happen to the staff at Changing Seasons?

We are all excited to be staying on and transitioning to UCU. So, we will continue to be the familiar and friendly faces for you, just now at UCU. And the team will only expand with many great and experienced UCU employees there to assist you with all of your needs.

How do I conduct business with Changing Seasons?

Members can continue to do business with us at our branch in Hampden as well as by phone or online, until the system conversion is complete later in 2024 and the branch is closed. You will receive multiple communications through this process to keep you informed and aware of that timing.

Can I conduct business with UCU today?

UCU offers shared branching services which can be used at any point to transact on your Changing Seasons account at their location. Additionally, if you wish to open a UCU account in advance of the merger, you are welcome to do so.

What if I am a member of both credit unions already?

Upon conversion, your Changing Seasons account will transfer over to UCU and can be combined to the other account if you choose to only keep one account. Otherwise, you will have two accounts at UCU, each with unique account numbers as your existing UCU account number will not change.

What do I need to do to move my account over to UCU?

When the time comes later this year, your account will be automatically integrated into UCU. Depending on the products and services you have with Changing Seasons, you may experience some other changes, or need to take action, which will be communicated with you.

Are there actions I need to take now?

There is no action to take at this time (March 2024), and we will be in touch with further communication as it becomes available. The next step will be a membership vote in the coming months.

When will additional information about the merger be shared?

We will actively update this FAQ page for any updates related to the merger. UCU will do the same on their website at

When will members vote?

Member voting packets were mailed out on May 7, 2024. Members will receive ballots and information by mail. Please mail your vote back to the third party on the return envelope. If members do not mail their ballot, they may vote during the special meeting on June 24, 2024, 5:00 PM. Voting will end at 5:15 PM.

Who can I reach for questions about the merger?

For any additional questions, please call us to talk to the Changing Seasons team at 207-945-6264 or 1-800-974-4475.

When will Changing Seasons become UCU?

We anticipate the merger being complete in July. From there, we will take a few months to complete our system conversions to UCU.

What will happen to my account number?

Later this year, you will receive a new UCU Account number. We have a plan in place to make sure we can make that as seamless as possible for members, with a slight extension of digits on your existing Changing Seasons number.

Will my routing number change?

Yes, your account will be associated with UCU’s routing number.

Will I need new checks, or can I use my current ones?

Yes, members will need new checks when the conversion occurs to UCU. We will assist in providing details on how to order the new checks as we approach the time to do so.

What will happen to my debit card?

Members will be issued a new UCU debit card towards the end of the year upon conversion.

What will happen with my loans?

Current member loans will remain as they are, rates and payments will remain in accordance with your loan agreement and generally, loan terms will not change. Refer to your loan agreement for further information, and you will receive communication if there are minor changes in your terms.

How do I pay my loans?

Continue to pay your loans as you do today; when the time comes later in 2024 you will have ample notice and details on the many convenient options to make payments to UCU.

What if I want to apply for a loan prior to the merger completion?

Members can apply for loans with Changing Seasons or start to move their business over to UCU. You can open a membership at UCU today, and applying online with UCU is available for all loan types.

Will accounts and loans still be available to be originated through Changing Seasons website/mobile app? Until when?

Members can continue to open loans and accounts with Changing Seasons until system conversions are complete. We will provide information of a specific date later in 2024.

Can members go to UCU to open accounts or loans with Changing Seasons; or to process transactions without going through shared branching?

Until the merger and system conversions are complete, Changing Seasons account transactions at UCU will be via shared branching. Members are welcome to open a UCU account at any point.

Will POS fees go away when the merger is done?

UCU does not charge POS fees. This fee will go away later in 2024 after the merger is completed.

Will branch hours remain the same until July?

The Hampden branch hours will remain unchanged until the branch is closed in late 2024.

Can I join UCU prior to the merger date?

Yes, UCU membership is open to most counties in Maine in addition to a variety of groups. More information can be found at

When can I move my direct deposits to UCU?

Members can move direct deposit to UCU once their new account is established, later in 2024 as you receive your new extended account number.

Will the online banking and mobile app change?

Upon conversion to UCU, you will transition to UCU’s Digital Banking platform. This will require an easy registration process. From there, you can download and login to the UCU Mobile App.

Will the service level change?

Members can expect the same high level of service and care that you’ve come to expect from Changing Seasons once we merge with UCU.

Will share certificates change?

The terms of existing share certificates will not change. New share certificate options will be available at UCU.

Should members print off their last statements prior to merger to be sure when the systems merge that the balances in their accounts/loans are correct?

Members should plan to download or print the most recent 18 months of statements for their own records. However, UCU will be ensuring balances transition appropriately as systems merge and that process will be audited to confirm accuracy.

New member benefits from UCU:

Visit for a full experience of member benefits, products and services.

Kasasa Rewards Checking, earn cash back or really high rewards

Kasasa protect – identity protection and support

Full lending support in house for consumer loans: auto, recreational, credit card, personal loan, linebacker, credit builder and more; real estate loans and business lending.

Convenient locations across the state of Maine participating in the surf network and COOP shared branching.

Member Business Services

Wealth Management Services

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