Parkside’s board of directors and leadership team are pleased to announce that Parkside Credit Union will be merging with TRUE Community Credit Union. The merger will take effect on January 1, 2024.
For now, continue to conduct your financial activities just as you have been:
- Your account number and routing number will remain the same.
- Continue to visit and see the same smiling faces at our Parkside branch locations.
- Access your accounts through online banking at ParksideCU.org and via the mobile app.
- Continue to use your current credit and debit cards. You can look forward to receiving new TRUE Community cards this summer.
- No need to order new checks -- continue to use the checks you have.
- Loan payments can still be made at ParksideCU.org.
- This summer, you will be able to visit 15 branch locations, access enhanced technology, and take advantage of new services.
The completion of the account integration will take place in the summer of 2024, and we'll continue to communicate with members in the coming months regarding any changes.
Please feel free to reach out with questions or concerns, either by stopping into a branch, calling us, or sending us a message through online banking or the mobile app.
Click here to view TRUECCU's press release pertaining to the merger vote results.
What does this merger mean for members?
More branch locations: We will have a combined total of 15 branches to serve all our communities and members.
The same knowledgeable, friendly employees: All employees from both credit unions will continue to serve our membership, with many being given more opportunities to grow their skills and careers.
Expanded membership: Effective January 1, 2024, our qualifying field of membership will include anyone who lives, works, worships, or attends school in the state of Michigan.
Products and services: Together we will be able to meet and exceed our members’ expectations better than anyone else, providing enhanced products, services, and digital access to members.
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Announcement Details
TRUE COMMUNITY CREDIT UNION AND PARKSIDE CREDIT UNION
ANNOUNCE MERGER PLANS
Merger represents significant opportunities for both credit unions.
JACKSON, MI – July 26, 2023- TRUE Community Credit Union and Parkside Credit Union, two well-established financial institutions known for their dedication to serving their members and communities for 70 years, are pleased to announce their intention to merge. The merger will produce a stronger, more comprehensive financial institution that will offer additional services, increased convenience, and ongoing support to members.
The merger represents a significant opportunity for both credit unions. By combining their strengths and resources, TRUE Community Credit Union and Parkside Credit Union will offer an even wider range of products and services, enhanced technology, and an expanded branch network to meet the evolving needs of their members.
The leadership of both credit unions express confidence that the merger will bring substantial benefits to their members, employees, and communities.
Chrissy Siders, President and CEO of TRUE Community Credit Union stated, "We are so excited to join forces with Parkside Credit Union as we embark on this transformative journey. Together, we embrace a shared vision, combining our strengths and resources to create an unparalleled financial experience that will stand as a testament to our unwavering commitment to our members, our communities, and our teams."
Janet Thompson, President and CEO of Parkside Credit Union, said, "Our partnership with TRUE Community Credit Union will build a brighter future for both our members and our employees. The alignment of our strategies and cultures as well as a shared vision makes this an ideal collaboration, and we are excited to write the next chapter in our combined credit union’s legacy together."
TRUE Community Credit Union, headquartered in Jackson, has twelve branch locations in Jackson, Ingham, and Washtenaw counties. Parkside Credit Union's headquarters in Westland, offers three branch locations in Wayne County. The combined credit union will retain the name and brand of TRUE Community Credit Union with its mission to cultivate legacy defining moments for the people and places they serve for generations to come by empowering members to achieve their financial goals.
TRUE Community Credit Union and Parkside Credit Union will work closely with regulatory authorities and stakeholders to obtain the necessary approvals, finalizing the merger on January 1, 2024.
About True Community Credit Union
TRUE Community Credit Union has been a trusted financial partner for its members since 1953. TRUE Community Credit Union offers twelve branch locations to serve members in Jackson, Ingham, and Washtenaw Counties. TRUE Community Credit Union has more than 720 million in assets and approximately 65,000 members. TRUE Community Credit Union prioritizes people over profit, process, and product and aims to create legacy defining moments for the people and places served for generations to come. TRUE Community Credit Union's website is TRUECCU.com.
About Parkside Credit Union
Parkside Credit Union is a community-focused financial institution dedicated to serving the needs of its members since 1953. Parkside Credit Union offers a comprehensive range of competitive financial products and services to help members achieve their financial goals. Parkside Credit Union has more than $172 million in assets and approximately 14,000 members. Parkside Credit Union's website is Parksidecu.org.
Q & A's
Is my branch team changing?
No. You’ll see the same friendly folks at all our branches.
Will employees lose their jobs due to this combination of credit unions?
All employees from both credit unions will continue to serve our membership and be retained in the merger, with many being given more opportunities to grow their skills and careers.
Did Parkside have to merge?
No. Parkside Credit Union is doing great and is financially strong! We are looking to expand the products, services, and technology available to our membership and merging with another strong credit union is the best way to do that! We found an incredible partnership in TRUE Community Credit Union and find our cultures, values, strengths, and membership align incredibly well!
Is Parkside Credit Union changing ownership?
The credit union is not under new ownership. Our members are still our owners!
How will members benefit?
TOGETHER, we will be able to meet and exceed our members’ expectations better than anyone else, providing enhanced products, services, and digital access to members throughout the state of Michigan. Together, we will continue to thrive and expand our physical branch presence from Wayne County into Ingham, Jackson, and Washtenaw Counties - serving members in a total of 15 branch locations.
Will my accounts continue to be insured?
Absolutely. Your accounts are Federally Insured by NCUA throughout the merger process and beyond.
Who will be eligible to join the combined credit union?
Anyone who lives, works, worships, or attends school in the State of Michigan can join.
Where can members get more information?
There is information on our website and there will be communication all along the way. Also feel free to reach out with questions – either by stopping into a branch, calling us, or sending us a message through online banking or the mobile app. You are why we are doing this – to come together to make the BEST credit union experience ever!
What happens next?
The two credit union teams are deepening our connection and reviewing all the tools in our toolboxes to show up even stronger together! We will be communicating with members throughout the transition period. In November, Parkside Credit Union members will have the opportunity to vote to move forward with this merger which will benefit our members, our employees, and our communities!
Letter from Parkside's President & CEO
I am writing today with exciting news that will shape the future of our credit union and bring about new opportunities for all our members and employees.
After careful consideration, I am pleased to announce that Parkside Credit Union will be merging with TRUE Community Credit Union. The decision to merge follows months of analysis and discussion with Parkside’s Board of Directors and leadership team. We sought to ensure that this merger would align with our shared values and allow us to grow and adapt to an ever-changing financial landscape.
As we move toward an anticipated merger date of January 1, 2024, we will work to ensure a seamless transition for all our members. During the transition period, you will continue to access your accounts through the same branches and online/mobile banking channels that you are currently using. Rest assured, the entire Parkside team will be retained and they will come together with the TRUE team to serve you stronger together. Parkside’s Board of Directors and leadership team will also continue to guide and support the credit union.
Like Parkside, TRUE is a financially strong, member-focused, and community-minded credit union. By combining our resources, Parkside and TRUE will be able to offer enhanced products, services, and digital access as well as an expanded network of fifteen branches to meet the evolving needs of our members.
In the coming weeks, we will provide you with more detailed information about the merger, including the benefits that await you as a member of TRUE Community Credit Union. Later this fall, Parkside members will be given the opportunity to vote to move forward with this merger which will benefit our members, our employees, and our communities. Our dedicated staff will be available to assist you with any questions or concerns you may have. We will also provide updated information via ParksideCU.org/merger.
On behalf of the entire team at Parkside Credit Union, I want to express my gratitude for your continued trust and support. Your financial well-being remains our top priority, and we are confident that this merger will enhance the value we bring to you and our entire community.
Sincerely,
Janet Thompson, President & CEO
About TRUE Community Credit Union
Like Parkside, TRUE is a financially strong, safe, member-focused, and community-minded credit union. Most importantly, TRUE CCU operates by values very aligned with our own. TRUE has twelve branches throughout Jackson, Washtenaw, and Ingham counties. Please visit TRUE Community Credit Union for more information.
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