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First Federal Credit Union accepts members of Eaton Employees Credit Union
by Report submitted · December 14th, 2017


The Board of Directors of First Federal Credit Union, Cedar Rapids, Iowa, has announced an agreement to accept the members of Eaton Employees Credit Union (EECU), Spencer, Iowa, in a merger agreement approved by the National Credit Union Administration and the Iowa Division of Credit Unions. The merger was effective earlier this month and First Federal is coordinating the transition of Eaton members into First Federal's operating system.

"We are pleased to welcome Eaton Employees Credit Union members as part of our organization," Tom Chalstrom, President and CEO stated. "First Federal Credit Union is one of the oldest credit unions in Iowa and our legacy of meeting the financial needs of our members will now extend to the members of Eaton Employees Credit Union. Our plans include relocating the credit union office to a new, accessible location."

In addition to the merger, First Federal is able to extend its products and services to all residents in Clay, Dickinson and Buena Vista counties.

Chairman of the Board of First Federal Credit Union Mike Pickering commented, "We are pleased to assist members of Eaton Employees Credit Union and hope to eliminate any concern about their accounts following the eventual closing of the Eaton facility. We look forward to serving the entire three-county area and expect an announcement shortly regarding a new, convenient location."

In a letter to members of Eaton Employees Credit Union, First Federal noted that all accounts will have the same terms, rates and balances and will be fully insured by the NCUA to the fullest extent permitted. EECU employee Cathy McKibben has agreed to remain in a similar position with First Federal Credit Union.

The merger is occurring simultaneously to the opening of the latest First Federal office on the southwest side of Cedar Rapids. The new Westdale office combines traditional personal service with forward-looking technology in a sleek, modern facility.

Additional information can be found on the merger and all of First Federal's services at FirstFedCU.com.
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