Do AHCU members have to approve the merger?

Yes. AHCU member will need to vote to approve the merger.  Please refer to the Special Meeting packet mailed to all members.  Special Meeting packets were mailed to all members with voting right and up-to-date mailing addresses at the beginning of May 2024.

 

What does “effective legal merger date” mean?

Approval has been granted by state regulator, Minnesota Department of Commerce and federal regulator, National Credit Union Administration (NCUA), based on a positive Anoka Hennepin Credit Union membership vote, to merge the credit unions with effective legal date of August 1, 2024, with TopLine Financial Credit Union being the surviving credit union. This means we are officially one entity; however, Anoka Hennepin Credit Union will be branded as “A Division of TopLine Financial Credit Union” for one-year after the legal merger date to assist with the proper transition of systems and culture. Thereafter, the new combined credit union will take on TopLine’s brand, TopLine Financial Credit Union, come August 1, 2025.

All assets, liabilities and capital will be combined as of this date. Though, we will continue to operate many of our systems separately, including our core technology platform and online/mobile banking through the Summer of 2025. This means, there will be very few changes to the way members conduct their financial business and access their accounts in the short-term.

 

What is going to change for me as a member on the effective legal merge date?

Initially, you won’t notice any changes.

Access to your accounts in our branches, online and through our automated channels will initially remain the same. In the coming months, we will work together with TopLine to identify the best choice of things like technology platforms, online/mobile banking provider, product, and service offerings.

What you may notice is a change to our logo and our name will now reflect that we are “A Division of TopLine Financial Credit Union.”

 

When will I see changes with the merger?

There are many moving parts to a merger, so as specific areas of your banking are part of any changes, we will communicate those to you in advance to ensure you’re well prepared. 

We’ll also update this area of our website on an ongoing basis as we identify upcoming changes. Don’t worry! We’ll be here every step of the way to help! 

 

Why did Anoka Hennepin Credit Union choose TopLine Financial Credit Union as a merger partner?

Culturally, Anoka Hennepin and TopLine share similar membership histories. Both credit unions' history is comprised of serving employees of the education and telecommunications sectors, with both being state-chartered credit unions focusing on financial access. Anoka Hennepin and TopLine share a common focus on member advocacy and a strong member-focused culture.

In addition, both credit unions have strong social responsibility outreach programs and maintain high levels of involvement in their community. The shared dedication to meeting members' needs, providing financial education, and focusing on member-centric staff training exemplify a common culture, which will continue to be leveraged and build upon. The shared vision and passion of helping members financially succeed and supporting the betterment of communities will remain a key focus, driven by their comparable core values and purpose of supporting financial well-being for all.

About TopLine Financial Credit Union

 

Will the new combined credit union’s name change?

AHCU will maintain its identity, and will be branded as "A Division of TopLine Financial Credit Union" for one year after the effective legal merger date to assist in the proper transition of systems and culture.  Thereafter, the new combined credit union will take on the TopLine brand, come August 1, 2025.

 

Will the merger of Anoka Hennepin and TopLine increase financial stability?

Both Anoka Hennepin and TopLine are financially sound credit unions, as evidenced by their separate capital ratios, profitability, operating and loss ratios.  The merger will result in an even stronger credit union with a larger capital base for growth, with better ability to withstand economic downturns, with larger market and member access for growing loans and expanding market share, and with increased scale to lower operating costs and thus to increase overall returns to members.  With combined operating efficiencies and economies of scale by spreading expenses over a more significant asset and member base, growth from this merger will enhance our ability to keep our dividend and loan rates competitive in the marketplace, offer other free and low-cost services to continue to support financial well-being, and allow continued investment in new products and services, branch locations, delivery channels, and other partnerships. 

 

What are the benefits to me as an Anoka Hennepin member?

Anoka Hennepin members and potential new members will benefit from additional locations, access to an expanded product and services suite, robust technology, and increased market presence and social responsibility efforts. With this merger creating a combined credit union with $1.1 billion in assets, it opens a much higher opportunity for financial betterment within our expanded membership.  

More Member Access

Anoka Hennepin’s five existing branch locations will remain open and ready to serve all of your needs. Additionally, in the late summer of 2024, you will have access to six TopLine branches and Shared Branching Services. These additions will allow you to enjoy access to your credit union accounts at over 5,100 locations nationwide and an expanded ATM/ITM network. We will gain more resources allowing us to serve more members and have a deeper impact in the communities we serve. The merger will also link service areas in the northern suburbs, representing 15 contiguous counties in Minnesota, which include: Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington, and Wright.

Products & Services

An impressive suite of first-in-class products and services, which includes new deposit and loan options, full-service in-house mortgage origination, investment andand fully owned insurance agency, and various small business services.

More Responsive to Evolving Financial Needs

As a larger organization, we would achieve modern efficiencies with combined resources at a much faster pace, which would allow us to offer long-lasting cost savings in deposit and loan rates, and ultimately return more value to members through other free and low-cost services to continue to support financial well-being for all.

Forward-focused Technologies

This partnership would allow us to constantly assess and improve our technology solutions essential services such as online and mobile banking, including digital wallet capabilities, financial education, and fraud prevention.

Same Knowledgeable, Friendly Faces

The same friendly staff at our branches would continue to be available to serve members.

 

What are the benefits to our communities?

Both Anoka Hennepin and TopLine have a shared vision to supporting our communities' needs. Both credit unions have established 501(c)(3) foundations that will continue to operate separately for two years after the effective legal merger date, however will continue to sustain charitable giving, sponsoring community events and awarding scholarships.  Both will continue to identify financial education and counseling needs for both adults and youth and continue to offer in-person workshops, virtual sessions, classroom presentations and other volunteer opportunities.

 

Membership & Account Questions:

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Will membership eligibility change?

The great news is eligibility will be expanded with a service area represented in 15 contiguous counties in Minnesota, which will  include: Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington and Wright, and will provide greater service convenience and reach for both Anoka Hennepin and TopLine members throughout Minnesota by an expanded branch network, expanded shared branching network, and expanded electronic service capabilities including mobile, online and remote services.  Collectively, the branch locations of Anoka Hennepin (5) and TopLine (5) truly complement each other, allowing them to serve a broader community with the ability to provide financial services access to more consumers. And remember - once a member, always a member!

 

What if I currently have accounts at both Anoka Hennepin and TopLine with a combined balance of more than $250,000? Are my deposit accounts still insured?

Your shares with Anoka Hennepin branches or facilities are combined with any shares you have now or in the future with TopLine branches or facilities and are federally insured up to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). Shares held at differently named branches or facilities are not separately insured. You can obtain information regarding NCUSIF insurance and a calculator to help determine your coverage in the combined credit union at www.mycreditunion.gov/estimator.

 

When can I conduct transaction at TopLine branches or vice versa?

AHCU members will eventually be able to use TopLine branches and vice versa through a Shared Branching Network.  This will allow you to complete basic transactions like cash checks, make withdrawals, transfer money, etc. 

 

Will member numbers and account numbers change?

Anoka Hennepin and TopLine teams are working together to identify the best-in-class technology platforms, online/mobile banking providers, and credit and debit card carriers.  The credit unions will operate separately on their current core technology, online/mobile banking platforms and with credit and debit card carriers through the Summer of 2025.  Thereafter, data will be migrated to consolidate systems, and we have yet to determine if member numbers and account numbers will be impacted.  There are many moving parts with integration of our credit unions, and many details and timelines are still being worked on.  We will communicate with you well in advance of any changes.

 

Will there be any changes to my current direct deposit, payroll deductions and/or automatic payments?

Direct deposits, payroll deductions and automatic payments will clear your account as they do today. If any changes are necessary, we will notify you well in advance regarding any process changes to routing numbers, ACH, and direct deposits.

 

Will my current debit and credit cards or PINs change?

No, you will continue to use your current debit and credit cards as well as existing PINs for them will remain the same for now.  As cards expire, new cards will be issued under Anoka Hennepin Credit Union, a Division of TopLine Financial Credit Union.  Also, your current statement cycle will remain the same for now. 

The credit unions will operate separately on their current technology platforms through the Summer of 2025.  Thereafter, data will be migrated, and we have yet to determine if account numbers and PINs will be impacted.  There are many moving parts with the integration of our credit unions, and many details and timelines are still being worked on.  We will communicate with you well in advance of any changes.

 

Will I need to order new checks?

No.  You will also continue to use their existing checks until they need a reorder.  New check orders will be issued under Anoka Hennepin Credit Union, a Division of TopLine Financial Credit Union through the Summer of 2025, thereafter new checks will be issued under TopLine Financial Credit Union.

 

Will I have to change my online/mobile banking credentials?

No. You will continue to access your accounts through AHCUdigital or AHCUdigital Mobile App as you do now.

 

Will there be any changes to ATMs/ITMs network?

All ATMs/ITMs will remain the same and will continue to offer 24/7 access.

 

When will the credit union systems be combined, meaning migrating data into one system?

The credit unions will operate separately on their current core technology and online/mobile banking platforms through the summer of 2025.  Thereafter, data will be migrated to one consolidated system, and we have yet to determine all that will be impacted.  There are many moving parts with the integration of our credit unions, and many details and timelines are still being worked on.  We will communicate with you well in advance of any changes.

 

If my Home Mortgage is with Servion and make my payments at AHCU, will I still do that after the merger?

Yes. You will see no changes to how you manage your mortgage account immediately following the merge.  Thereafter, data will be migrated, and if changes are necessary, we will notify you well in advance.

 

Operational Questions:

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Will AHCU branches remain open?

All AHCU branches will be open through the merge and beyond. Existing AHCU branches will operate under the name "Anoka Hennepin Credit Union, a Division of TopLine Financial Credit Union for twelve (12) months. Thereafter, all locations will remain open under the TopLine Financial Credit Union brand. For a list of AHCU branches, click here.

 

Will there be any changes to member service and Anoka Hennepin and TopLine member teams?

Since the founding of both credit unions, Anoka Hennepin and TopLine have existed to serve our members.  We will continue to offer the same great products and the exceptional service that our members expect.  You will continue to see the same familiar, friendly faces in our branches, contact center, and all other member-facing and back-office teams

 

How do I contact my credit union after the legal effective merge date on August 1, 2024?

It’s business as usual!  You can continue to use the same address, phone numbers, email addresses and websites you currently use.  See references below.

Anoka Hennepin Credit Union

Mailing Address:  3505 Northdale Blvd. NW, Coon Rapids, MN 55448

Phone:  763.422.0290

Website:   https://www.ahcu.coop/

Email:  feedback@ahcu.coop

Routing Number:  291073231

 

TopLine Financial Credit Union

Mailing Address:  9353 Jefferson Highway, Maple Grove, MN 55369

Phone:  763.391.9494 / Toll Free: (800) 626-1448

Website:   https://www.toplinecu.com/

Email:  Ask@TopLinecu.com  

Routing Number:  291074696

 

When will the mailing address, phone numbers, website address and email addresses change?

Anoka Hennepin will maintain their own website, phone numbers, mailing address and emails addresses for one-year after the effective merger date of August 1, 2024. We will communicate in advance of any changes to them.

 

What will branch hours be?

Branches will keep their existing hours for now. Please refer to the Branch Locations page for the latest information. We will communicate in advance of any changes.  Additionally, we will observe the same holiday hours. The remainder of 2024 is as follows:

• Labor Day – Monday, September 2
• Veterans Day – Monday, November 11
• Thanksgiving – Thursday, November 28
• Christmas Eve – Tuesday, December 24 - closed at 1p.m.
• Christmas Day – Wednesday, December 25
• New Year’s Eve – Tuesday, December 31 - closed at 1p.m.

 

Will AHCU employees keep their jobs?

Yes. All positions will be retained; you'll still be able to work with your favorite employees that you have come to know and trust. You will continue to see the same familiar, friendly faces in our branches, contact center, and all other member-facing and back-office teams. Both credit unions recognize the importance of retaining talented and dedicated team members and that a successful merger is dependent on retaining that talent and leadership.  

 

Who will manage the combined credit union, TopLine Financial Credit Union?

Mick Olson, current President and CEO of TopLine will serve as President and CEO of TopLine Financial Credit Union.  Jeff Claussen, current President and CEO of Anoka Hennepin Credit Union, will serve as President of Anoka Hennepin Credit Union, A Division of TopLine Financial Credit Union until his retirement, which will be 60 days post legal merger.  Thereafter, Mick Olson will serve as President and CEO of the continuing credit union.  The two executive teams will also be combined.  We’re excited about the combined talent of our teams.