On December 4, 2020, the Board of Directors of Morton Weeks Federal Credit Union met and approved an agreement to merge with Maple Federal Credit Union. The decision was not made swiftly, nor without much consideration. For several months prior to approving this agreement the leadership of both credit unions spent time together to ensure that this decision would be in the best interest of both credit unions.
If this merger is approved, Morton Weeks FCU will transfer all its assets and liabilities to Maple Federal Credit Union. As a member of Morton Weeks FCU, if the merger is approved you would then become a member of the combined organization under Maple Federal Credit Union.
We wanted to take a moment to answer some of the questions we’re anticipating from members ahead of this decision:
Q: Why is Morton Weeks FCU pursuing this merger option?
A: Very simply, we want to bring our members the best value from their credit union. Partnering with another established credit union that shares our values will significantly increase operating efficiencies, so we have the resources to deliver much more to members – with the same personalized service you know from Morton Weeks.
Q: Why is MAPLE the right option for us?
A: After careful consideration, we found that MAPLE shares our common values and philosophy of member service. As a smaller credit union, merging with MAPLE will allow us to honor the heritage and legacy of our credit union while giving us both economies of scale to invest in the products, services, and technology to serve the members of both credit unions well into the future.
Q: Will the Morton Weeks branch remain open?
A: YES! In fact, the branch will have extended hours to serve you better. Members will also have access to the MAPLE branch in Lafayette in addition to six Co-Op shared branches and 14 Co-Op ATMs within a 20-mile radius of New Iberia.
Q: How does this merger benefit me personally as a member of Morton Weeks?
A: The merger will bring to you more products and services that you may have wanted from the credit union but had to seek out elsewhere. These include debit cards, online banking, online bill pay, mobile banking app, e-statements, remote deposit capabilities from your phone, and more. You will have access to new loans such as rec vehicle and boat loans as well as an easy and secure online loan application.
Q: What about the existing staff of Morton Weeks FCU?
A: The current manager, Joel Songne, will be retained as the Branch Manager. Other existing employees will be retained, and all employees will be eligible for benefits including group medical, dental, vision, life and long-term disability insurance, paid vacation and sick leave, 401K, and other benefits that are currently provided to Maple FCU employees.
Q: Does MAPLE FCU understand the unique needs in our community of New Iberia?
A: YES! MAPLE is already invested in our area after merging with the Iberia Medical Center Credit Union in 2004. They currently serve the employees of IMC and the City of New Iberia. This branch location will strengthen the relationship with the New Iberia members which helps support keeping the current branch in operation and investing in and improving the Morton Weeks FCU branch.
Do you have a question that has not been answered here?
Reach out to Pamela Stelly, CEO of MAPLE FCU at firstname.lastname@example.org, or call (337) 233-6264. We want to make sure that you understand the many benefits to the merger bring proposed and supported by the Morton Weeks FCU board of directors.
Please be on the lookout for your merger ballot and notification of the special meeting to approve this merger in your mailbox soon.