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Merrimack Valley Credit Union andLawrence Postal Employees Credit UnionMerger Questions and AnswersWhy did Lawrence Postal Employees Credit Union merge with Merrimack Valley Credit Union?In planning for the future, Lawrence Postal Employees Credit Union had been exploring ways to expand the products and services and hours of service they offer members. Through that process they determined that the best way for them to do so was to merge with Merrimack Valley Credit Union. When is the merger official?The official conversion date and the first business day for the combined entity is July 1, 2014.Will Lawrence Postal Employees Credit Union’s name change?Yes. Effective July 1, 2014, Lawrence Postal Employees Credit Union becomes Merrimack Valley Credit Union.Who is Merrimack Valley Credit Union?In 1955, Merrimack Valley Credit Union was founded by Union Local 1365 and originally named the Communications Workers Employee Credit Union. Our first offices were located at Western Electric at 1600 Osgood Street in North Andover.Today, we are a $516 million asset community credit union serving the Merrimack Valley region with branch locations in Haverhill, Lawrence, Methuen, and North Andover, MA and Plaistow, NH. We have always been and remain committed to the credit union mission of “people helping people” and offering quality products and services at reasonable rates and costs. Is the Credit Union financially sound?Yes, Merrimack Valley Credit Union is considered more than “well capitalized” by Federal regulators and continues to grow at a healthy rate.Are my accounts insured?Yes, your accounts remain safe and secure. Your deposits are federally insured up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF).Will the Lawrence Postal branch remain open?At the Post Office’s request, the branch will be closed. As a Merrimack Valley member you will now have access to expanded hours at 5 branch locations just minutes away from the Lawrence Post Office. You will also have access to over 40,000 ATMs nationwide through the SUM and CO-Op Networks if you choose to add ATM or Debit card to your services with the Credit Union. You will also have access to your account information 24/7 through home and mobile banking.What happens to my current accounts with Lawrence Postal Employees Credit Union?All Lawrence Postal Employees Credit Union member accounts will be converted to Merrimack Valley Credit Union accounts as of July 1, 2014. You will receive a letter notifying you of this change and your new Merrimack Valley Credit Union account details.What if I have accounts with both institutions?There will be no impact to you. Your accounts at Lawrence Postal Employees Credit Union will be converted to Merrimack Valley Credit Union accounts. They will remain separate shares owned by you. At your discretion, we can help you consolidate or otherwise organize your accounts, if you wish.When can I begin transacting business at Merrimack Valley Credit Union branches?Effective July 1, 2014.Will there be different/higher fees and charges on my current and future accounts with Merrimack Valley Credit Union?After July 1, 2014, converted accounts and new accounts opened by former Lawrence Postal Employees Credit Union members will be subject to the fees/charges in place at Merrimack Valley Credit Union at the time. Merrimack Valley maintains low fees and is committed to ensuring they remain the lowest around. What will happen to the Lawrence Postal Employees Credit Union employees with whom I typically do business?The employees of Lawrence Postal Employees Credit Union have been happy to serve you for so many years. However, they have chosen not to continue on with Merrimack Valley Credit Union after the merger. Will I be able to get an ATM card for my current account?Former Lawrence Postal Employees Credit Union members can obtain an ATM/Debit card for their existing savings account and can also obtain one by opening an additional, qualified account such as a checking account after the conversion date.What happens to my loan(s) with Lawrence Postal Employees Credit Union?Current Lawrence Postal Employees Credit Union loans will convert to Merrimack Valley Credit Union loans on July 1, 2014, at the same rate and term. If you are on payroll deduction, your payments will continue to automatically deduct from your account on the same day. Manual payments can be made at any branch location or made payable and sent to:Merrimack Valley Credit Union P.O. Box 909North Andover, MA 01845What new products and services will be available to me after the merger with Merrimack Valley Credit Union?All current Merrimack Valley Credit Union products and services will be available to you. They include:Checking, Savings, Clubs, Certificates, IRAs, Financial Investment Services, New, Used & Refinanced Auto Loans, New & Used Recreational Vehicle Loans, Personal Loans, Insurance products, Real Estate Mortgage Loans, Home Equity Loans/Lines of Credit, Business Accounts and Loans, Credit Cards, Online Banking, Bill Payment, Mobile Banking, Debit and ATM cards and much more.Will I still be able to do all the things I used to do with Lawrence Postal Employees Credit Union at Merrimack Valley Credit Union?Yes and much more. Merrimack Valley Credit Union offers a wider array of deposit and loan products, as well as additional services not available at Lawrence Postal Employees Credit Union. Those products/services will be available effective July 1, 2014. Visit us online at for more details on all we have to offer.As July 1, 2014 you will also have five additional branch locations with expanded hours and drive thru service (certain locations) to conduct your business. We are located in Haverhill, Lawrence, Methuen, and North Andover, MA and Plaistow, NH. Will the merger increase my risk for identity theft?No. Merrimack Valley Credit Union follows stringent guidelines in order to protect our members’ privacy and personal information. As the merger progresses, you will be provided with specific information regarding security issues, such as Identity Theft.What will happen to my Lawrence Postal Employees Credit Union automatic transfers/payments and direct deposit/payroll deduction?Everything will remain the same and require no changes from you at this time.What if I have additional questions?Please don’t hesitate to call our Member Service Call Center at (800) 356-0067, Option 1, visit one of branch locations, or email us at servicecenter@. For our security, please do not include any account information in emails to the Credit Union. For more information about Merrimack Valley, visit us online at . ................
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