Your Credit Union Your Vote
As a Prospectors Federal Credit Union member, you are invited to cast your vote on a proposed merger to bring Prospectors and Certified Federal Credit Union together, creating one credit union that will benefit members for years to come.
Why merge Prospectors and Certified?
Together We Are Better – The Board of Directors concluded that the proposed merger with Certified is desirable and in the best interest of members because it allows for a consolidation of energy and resources of the two credit unions to better serve the members in a competitive and secure environment. What additional products and services can you expect?
- Access to additional branches – The merger will expand our branch network to eleven (11) branches ready to serve you and access to 5,600 shared branches nationwide.
- Contact Center – Additional access to your Credit Union over the phone from 7 am -7 pm.
- Enhanced loan products with competitive rates.
- Competitive rates on shares.
Benefits for members
The merger represents a big step forward for Prospectors members. In addition to the added convenience of additional branches and extended phone center hours, members of Prospectors will receive the following benefits:
- Up to $1.1 Million Dollar One-Time Bonus Dividend – A bonus dividend will be paid to members in good standing who maintain a share account with Prospectors as of the merger date. The dividend is based on 1.59% of total shares as of 12/31/2023.
- Higher Rates on Certificates – Prospectors members’ existing share certificates and IRA certificates will be converted to the Certified current rate, if it is higher, for the remainder of the term. Members can also add funds to those certificates and enjoy higher rates for the remainder of the term.
- Discounted Rates on Loans – Prospectors members will be offered a 50 basis-point discount on new closed-end Consumer Loans and a 25 basis-point discount on new First or Second Real Estate loans when they book a loan in the first 6-months after the business combination date.
- New Money Certificates – A special 25 basis-point bonus will be added to any new non-credit union funds for the first six (6) months after the business combination date.
Who can vote
According to NCUA regulations, you must be age 18 or older, hold at least one share in the credit union, and have joined Prospectors on or before June 30, 2024, to receive a merger ballot.
Ways to vote: Any time before Wednesday, October 16, 2024 at 5:00 p.m.
- By Mail – Complete your paper ballot and mail it using the business reply envelope from your merger packet. Paper ballots must be received no later than 5:00 pm on October 16, 2024.
- In Person – Come to the Special Meeting on Wednesday. October 16, 2024, at 5 p.m., so you can hand deliver your paper ballot.
Additional Questions
Call us at 909-396-9688
