Consumers Credit Union Merger FAQ

What does a merger mean?  SAC FCU and Consumers CU are combining resources to provide an overall better banking experience for the membership base.

Why is Consumers Credit Union merging with SAC Federal Credit Union?  A recent banking audit by the NCUA and the State Banking Commission of Iowa determined the long term financial health of Consumers Credit Union was unfavorable for the membership base.  SAC FCU has always showed an interest in expanding our footprint and specifically bringing our banking services to another part of Iowa outside of Council Bluffs.  The NCUA selected SAC to continue helping the Denison community with Credit Union banking needs.

How will the merger benefit me as a member?  SAC FCU is a full service financial provider and will be able to offer the Consumer CU members products and services they did not have access to prior to the merger.  Examples include extended branch and call center hours, a more robust website with free on-line banking and free bill pay, free mobile banking, free debit cards, mortgages and home equity loans, business banking services, Visa credit cards, and wealth management services.

Will there be fee increases to pay for this transition?  There will be no direct fees billed to the Consumer CU members due to the merger.  The banking fees for SAC and Consumer do have slight differences.  Please see your prior disclosed fee schedule from Consumers and compare to the SAC Fee Schedule, which can be found on


Will there be any disruptions to accessing my money?  No, we do not anticipate any disruptions. 


Will any services be unavailable during the transition? The same services will be available during the merger process.


What safeguards are in place to ensure my money is secure during the transition?  SAC FCU has been serving the local community for 70+ years.  SAC is the largest locally owned credit union in the state of Nebraska, and also serves Council Bluffs with three branches.  Our recent banking exams and audits have all been conducted with favorable ratings.  Your deposits will continue to be insured by the same NCUA insurance fund.


Will my account number change?  Yes, all of your account numbers will change and you will be notified via mail prior to June 30th.  Your new SAC account number(s) will be available for use on June 30th


Will any of the products I have change?  Yes.  All of your existing products will be transferred to like products that SAC currently offers.  SAC will notify you of product name changes and features prior to June 30th.


Why am I receiving multiple notifications in the mail regarding my account changes?  For compliance and consumer privacy reasons, we are required to notify each individual of the changes that will occur to each of their accounts.


Will the transition affect any of my automatic payments or checks I write?  All of your automatic payments will be honored through June 28th.  Any existing checks you write will be honored through year end 2018.


Will my scheduled transfers, automatic payments, and direct deposits continue without interruption during the transition?  Once the transition has been completed on June 30th, you’ll be required to set-up new recurring payments using your new SAC account number(s).  Your direct deposits will not be impacted so no action is needed on your part.


What access will I have to branch locations before, during, and after the transition?  The existing branch in Denison will continue to be open during the transition, but with extended hours to include Saturdays from 9:00 to 12:00.


Can I apply for a loan during the transition?  Yes.  You can apply at the Denison branch or any other existing SAC branch, over the phone at 800-228-0392, or on-line at  However any new loan application taken after May 31st will be underwritten by the SAC lending department and will be set-up on SAC systems.


What is the final day I can access online banking?  Your Consumers CU on-line banking will not be available after June 29th.


Will I need to set up new bill pay payees and payments?  Yes.  However, before setting-up new bill payees with SAC, you’ll need to first enroll in on-line banking at  This will also allow you to access the SAC mobile app for both Apple and Android.  SAC provides free on-line banking, free bill pay, and free mobile access.  PLEASE NOTE – you will not be able to enroll in on-line banking until you have established a SAC account on the SAC host systems.


Should I plan to send my automatic payments or bill pays before or after the transition?  You should continue to make all loan payments on their scheduled date during the month of June.


Will my ATM or debit card work during the transition?  Your existing Consumers CU debit card will continue to work through close of business on June 29th.  If you currently have a Consumers CU debit card, you will be receiving a SAC debit card via mail towards the end of June.  Your SAC debit card will not be available for use until the transition in complete on June 30th.


Will my ATM or debit card PIN (personal identification number) change?  Your Consumer CU debit card will not be impacted during the transition.  When you receive your SAC debit card, you’ll be able to choose a PIN of your choice when activating the new card.


What should I do to prepare for the upgrade?  You will not need to do anything to your Consumers CU accounts during the transition period.  Your accounts will automatically be moved into a similar product at SAC Federal Credit Union on June 30th.  If you would like to change products after June 30th, please stop into the branch in Denison or any of our other 24 locations.


What will I need to do when I visit a branch after the merger?  Once the merger is complete, you’ll be able to enjoy banking as you do today at the Denison branch or at any of the other 24 SAC branches located in the greater metropolitan Omaha/Council Bluffs area, including Blair, NE.


Who can I contact if I need further assistance or have questions?  You can stop by the Denison branch during normal banking hours or call the SAC contact center at 800-228-0392.  Please visit for all branch and call center hours.