An Exciting New Chapter for Norstar Federal Credit Union!
Norstar Federal Credit Union is excited to announce our proposed merger with Healthcare Plus Federal Credit Union of Aberdeen, South Dakota!
The Boards of Directors of both credit unions have approved the proposed merger, bringing together two financially strong, member-focused institutions that share a commitment to exceptional service, competitive financial products, and the communities we serve.
Pending final approval by Healthcare Plus members, the merger is expected to become official on January 1, 2027, with Norstar Federal Credit Union continuing as the surviving credit union.
Growing Together. Stronger for Tomorrow.
This merger represents an exciting opportunity to build upon Norstar's strong financial foundation while creating additional economies of scale, expanding our resources, and providing greater flexibility to meet the evolving financial needs of our membership.
By combining the strengths of both institutions, we will be better positioned to invest in technology, enhance our products and services, and continue delivering the personal, hometown service our members have come to know and trust.
And the best part? Norstar will remain Norstar! Our name, our commitment to our members, and our dedication to providing exceptional service and competitive rates aren't going anywhere.
What Does This Mean for Norstar Members?
In the immediate future, very little will change for our members. You can continue banking with Norstar just as you do today, with the same friendly faces, personalized service, and commitment to your financial well-being.
While the official merger is anticipated to take effect January 1, 2027, the process of fully integrating our two credit unions will take additional time. We are targeting the third quarter of 2027 to complete the integration of our computer systems and technology. This phased approach will allow us to complete the transition as efficiently and cost-effectively as possible while minimizing disruptions to our members.
In addition to the merger, Norstar is already planning some exciting technology improvements! We are preparing for a significant upgrade to our core computer systems, along with major enhancements to our mobile and online banking platforms, currently scheduled for June 1, 2027.
Looking further ahead, members can also anticipate additional financial products and services made possible through the combined resources and expertise of both credit unions.
Thank You for Growing With Us!
As we work through these exciting changes, we appreciate your patience and understanding. Integrating two financial institutions and upgrading our technology is a significant undertaking, and our team is committed to making the process as smooth and seamless as possible.
We will continue to share important information, updates, and details about what members can expect throughout the coming months.Most importantly, we want to thank our loyal members for the trust and confidence you place in Norstar Federal Credit Union. Your continued support has helped make our success possible, and we couldn't be more excited about what lies ahead.
Key Dates To Know
- 1. January 1, 2027 – Official Merger Date
- 2. June 1, 2027 – New core system and upgraded mobile and online banking.
- 3. Q3 2027 – Expected Completion of full system and technology integration.
Our roots are strong, our opportunities are growing, and the future is brighter than ever at Norstar Federal Credit Union!
Stay tuned. The best is yet to come!