This merger makes both of our organizations stronger, which benefits our members, our employees, and the communities we serve. Partnering with another established credit union will significantly increase operating efficiencies so that we have the resources to deliver much more to Saint Dominic’s Federal Credit Union members- with the same personalized service we have always provided.
This merger will provide the resources to better serve your financial needs through an added branch and ATM's, well developed online and mobile technologies, new products and services, and highly competitive rates.
SFCU is headquartered in Somerset, MA. Its birth took place in 1936 at Panneton’s Drug Store. The community of farmers and working people came together and founded Somerset’s first financial institution, the “Somerset Community Credit Union.” Since banks of the day would lend only to property owners, the new Credit Union expanded access by loaning money to people based on their good character and proof of steady employment. The financial institution was later renamed “Somerset Federal Credit Union,” and was one of the first credit unions in Massachusetts to own and operate its own building at 1275 County Street.
Now headquartered at 740 County Street in Somerset, Massachusetts, SFCU is proud to have more than 12,000 members and over $202 million in assets. Under the leadership of a member elected Board of Directors, and dedicated Senior Management Team, SFCU continues to look towards the future by providing banking solutions for each generation we serve. For more information on products and services, please visit the SFCU website at www.somersetfcu.com.
Both credit unions performed their due diligence while obtaining regulatory approval from the National Credit Union Administration (NCUA). Once regulatory approval was received, a special meeting took place on Tuesday, November 1st at Saint Dominic’s Federal Credit Union.
Saint Dominic’s Federal Credit Union team members will retain employment and nearly everyone will maintain the same or similar role. In fact, a merger creates a tremendous amount of opportunity for existing employees to expand their career options in the future. SFCU team members will also retain employment.
No. There is no overlap between the Saint Dominic's Federal Credit Union and SFCU branch network. The current Saint Dominic's Federal Credit Union, located at 1723 GAR Highway, Swansea, MA, will remain open, and you will continue to receive the same personalized service you do today. Currently, this location cannot accept transaction(s) for a SFCU account.
We will not change our hours of operation. In the event there are changes in the future, our members will receive ample notice.
We want to ensure our members that your funds are safe. Both St. Dominic’s Federal Credit Union and SFCU are federally insured by the National Credit Union administration (NCUA).
No. At this time, your member and account numbers will remain the same. In the event that your member or account numbers have to change in the future, you will be notified well in advance, and we will assist you every step of the way.
At this time, there will be no changes to your online and mobile banking login credentials. Please continue using your current username and password to access your online banking via www.sdfcreditunion.org, until further notice.
At this time, there will be no changes to your online account access. Please log in as usual to view account history and download eStatements.
Again, at this time, it is business as usual, and everything will continue to work as it has. We are committed to make any transition as seamless as possible so you will continue to enjoy uninterrupted access to your money.
Yes, because routing and member numbers are remaining the same you may continue to use your current checks.
You will continue to use ATM's as you do today. At this time, Saint Dominic’s Federal Credit Union members cannot use SFCU ATM's for monetary deposits, and vice versa.
Yes. You will continue to use your Saint Dominic’s Federal Credit Union debit card as you do today.
At this time, Saint Dominic’s Federal Credit Union members cannot use the SFCU branch and vice versa.
Our collective commitment to the communities we've serve remained steadfast, and we look forward to the potential of even more significant and broader participation with the financial strength of the combined organizations.
At this time, no action is needed.
As more information becomes available, please visit www.sdfcreditunion.org or www.somersetfcu.com for details. You are also welcomed to visit the Somerset Federal Credit Union branch or speak to our Member Service Representative by calling 508-678-2851.
The President/CEO of the merged Credit Union is Joseph Lajoie.