Growing Together: SoundView Welcomes Western Connecticut CU Members!
We are delighted to share thrilling news that demonstrates the growth of our credit union community. SoundView is expanding its family by warmly welcoming the members of Western Connecticut Credit Union. Effective July 1, 2023, the merger received all necessary approvals, signifying a significant milestone in our journey together.
What does this mean?
Enhanced Banking Experience
We would like to take a moment to express our heartfelt appreciation to Jo-Ann Palladino, the outgoing President and CEO of SoundView. Since 1996, Jo-Ann has been an indispensable part of our credit union, leading with unwavering dedication and driving initiatives that have significantly enriched the lives of our members. Through year-end, Jo-Ann will serve on the transition team for the merger until her retirement. Her top priority remains ensuring that our members are well taken care of during this transition, working diligently over the next several months to ensure a smooth process.
Expanding Community Outreach
Stay tuned! We will keep you informed with any enhancements and changes as we move forward! You have the commitment of our Board of Directors and Management for a smooth and seamless transition.
How will my accounts be affected?
You can expect business as usual following the legal merger as no immediate changes or action will be needed by you. You will continue to access your accounts, manage them as you currently do and be serviced by your existing Member Service Team. We are committed to a seamless transition of any operational changes made between our organizations.
Will my accounts continue to be insured?
Yes. Your accounts will continue to remain well protected and insured. Your deposits are federally insured through the National Credit Union Administration for up to $250,000 and backed by the full faith and credit of the United States Government. If you have accounts at both SoundView and Western CT, that equal or exceed $250,000 when combined, please contact us for further information at 203-796-4500.
Will the credit union remain open?
Yes! Both credit union offices will remain open at 14 Research Drive, Bethel, CT and 1 Gillette Park, Boston, MA.
Will the staff be impacted by the merger?
All staff will continue to work for the future organization. The board and management of both credit unions are committed to retaining all staff during and after the transition.
What will happen to our Board of Directors?
As part of making this a true partnership of our organizations, the new organization will be supported by 5 members from SoundView’s board and 4 members from Western CT’s board. This board member structure provides for representation from both sets of membership in driving the future direction of the combined entity.