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Frequently Asked Questions

Northeast Credit Union (NECU) and Ocean Communities Federal Credit Union have jointly announced their intent to merge subject to approvals. The merger of these two organizations will create one of the top credit unions in the Northeast serving approximately 124,000 members. The combined partnership will provide a broader array of financial products, services and technology to Ocean Communities’ members and expand Northeast Credit Union’s member base. Below you will find a summary of questions you may have concerning the merger.

Please check back often as we are updating this page with all the important questions we are getting from members. Thanks for submitting your great questions and for all the support!

Last Updated 5/9/17

Q: When will I know if my account is one of the duplicates?

Our IT department is compiling a list of the 51 members that are affected and we will reach out to you ASAP if you are one of the affected ones. We will also have this list available in our branches and Contact Center very soon so we can let you know when you call or visit us. We appreciate your patience as we resolve this.

Q: How long will Ocean Communities checks be used after the merge date?

Checks will clear indefinitely as we will keep the OCFCU routing/transit number active at the FED. When members reorder checks, the new checks will have NECU’s information (routing/transit number) on them.

Q: How long will Ocean Communities debit cards work after the merger date?

OCFCU debit cards will be active until July 31, 2017. All debit cardholders will receive detailed information on this shortly, and they should be expecting their new cards in the mail mid July. The new cards must be activated prior to first use.

Q: Will new debit cards be issued in the mail or do I have to come to branches to get new ones?

New NECU debit cards will be mailed to OCFCU members mid July. They will receive the new debit cards prior to the merger date and can activate the new debit card upon receipt; they will start working on August 1, 2017 upon activation. As mentioned above, the old OCFCU debit cards will no longer work after July 31, 2017.

Q: Will I need new checks? If so will the credit union give us new checks at no cost?

You will not need new checks immediately and the OCFCU checks will continue to clear indefinitely. When you reorder checks you will then get the new NECU checks.

Q: How long will my checks be good after the merger?


Q: Do I have to give my employer any new information so that my payroll deposit doesn’t stop?

No, all direct deposits and ACH automatic debits will continue to post as normal because the current OCFCU routing/transit number will remain active. Eventually we suggest that members change to the NECU routing/transit number for those types of transactions, but there is no urgency to do that right away.

Q: Will we be opening a branch in Portland?

No immediate plans on this one. We’ll have to ask the Maine Bureau of Financial Institutions to do so in the future.

Original FAQs

Q: What is the purpose of the merger?

Our credit unions share similar attributes and values. Both organizations are founded and managed to serve the needs of its members.

  • We both take pride in our expertise in offering financial services, and we share a unified commitment to deliver the best credit union experience.
  • Improves access and long term competitive capabilities.
  • Diversifies membership base and opens up new fields of membership. 
  • Broadens economic and geographic footprint.

 Q: Why is this good for members?

This merger will provide the following key benefits:

  • Convenience: Provides for a geographical presence with 20 branches and 27 ATM’s.  Enables ability to increase member access points and extend geographical coverage with more face to face locations. 
  • Price: Supports opportunity for competitive rates through combined financial resources.
  • Products & Services: Creates opportunity to research and implement products and services faster when member needs change.
  • Service:  Establishes ability to expand and support all points of contact.

Q: When will the merger officially take place?

The merger is to be completed on August 1, 2017.

Q: When will the system conversion officially take place?

The system conversion will be completed simultaneously with the merger on August 1, 2017.

Q: Will the credit union’s name change?

The continuing credit union’s name will be Northeast Credit Union.

Q: Will any of the branches be closed or consolidated?

No, we have no plans to close any branches. You can be assured that we will, as always, focus on member convenience and on retaining the best business practices and services.

Q: Will the business hours be changed?

No, the business hours will continue to remain the same until further notice.

Q: Will any employees lose their job?

No, all employees are being retained by the continuing credit union.

Q: Will I keep my Kasasa account?

Yes. Kasasa, a rewards program currently administered by a third party vendor, will be retained until the current contract expires on December 31, 2018. At that time, Kasasa accounts will be transitioned to a similar rewards program administered by the continuing credit union.

Q: Will I have to change my account number?

After review, there are only 51 accounts with potential account number overlap. The overwhelming majority will keep their current OCFCU account number. You will be provided more account level information well before the planned systems conversion date.

Q: How large will the merged credit union be?

At the close of merger, the combined credit union’s total assets will be approximately $1.3 Billion.

Q: How will this benefit the employees?

When two motivated credit unions join together for the benefit of its members, the result is a combined organization that creates new and exciting opportunities to all stakeholders. The combination will lead to new areas of career development and growth opportunities. The OCFCU employees are excited about the growth opportunities with the continuing credit union. We do not plan to reduce our labor force and, in fact, will be adding to our labor force as a result of this merger. As we continue to empower our employees to service our members, increased enjoyment of work will continue.

Q: How do the cultures of the two credit unions compare?

The cultures are very similar. Above and beyond, both credit unions share a commitment to serving their members. While there are always differences in credit union cultures, we believe this credit union will be a stronger organization because of its diversity and teamwork.

Q: How will the integration of the two credit unions be managed?

The combined credit union has been developing a well-defined process for managing the integration.  Integration implementation has already begun.

Q: What do I do if I have further questions regarding the merger?

Current OCFCU members will receive an information packet including transition information regarding their various accounts: checking/depository accounts, loans, credit cards, debit cards etc. prior to the planned merger/conversion date. The packet will include detailed instructions regarding your accounts and how they will be transitioned to the continuing credit union.

For more information, please call Tim Collia at 603-422-9900 or Judy Morin at 207-571-5403.

Alternatively, we welcome you to visit one of our branches, or email your questions to