Letter to Membership 11/20/2023

Dear Valued Member

kstate CREDIT UNION is excited to be merging with Enterprise Credit Union. This merger represents a partnership that will increase your options for mobile and financial tools, provide additional team members who will be able to serve you and create an enhanced member experience. Our primary focus is to make sure you have everything you need in your financial journey.

You recently received a letter from Julie Murray, the Administrator of the Kansas Department of Credit Unions announcing the decision to merge Enterprise Credit Union into kstate CREDIT UNION.  I wanted to provide some of the key benefits that we will strive to provide to all Enterprise Credit Union Members and to your communities. 

  1. Enhanced Services: The merger will result in an expanded range of financial products and services, providing YOU, our member, with more choices to meet your unique financial needs.
  2. Improved Technology: We have invested in modern technology to streamline processes, enhance digital banking capabilities, and improve overall member experience.
  3. Local branch and staff: Our merged partnership will include keeping the office open in Enterprise and of course you will also have access to our two Manhattan locations as well as the nationwide shared branch network.  Tricia Grant is excited to continue serving you all as the Enterprise CU Branch Manager. 
  4. Stronger Financial Position: The merger will provide a financially stable environment, ensuring that we can continue to serve you into the future.

Over the coming months, our team will be dedicated to ensuring a smooth transition and minimizing inconvenience for our members. We will continue to keep you informed about changes in the upcoming weeks and months. Our Member Service Representatives and Specialists will be available to answer your questions and provide guidance by text, email, phone or in person.

The effective date of the merger is December 31, 2023.  What this means is that on January 1st, Enterprise CU will be combined with kstate CU.   Our team will be working diligently on moving all account products and balances over to our system on January 1st.   We will be sending additional communications as we create plans to move your information, along with dates to expect any conversion time alterations as well as product shifting timing needs.   Our promise to you is to make this as seamless as possible! 

We want to assure you that our commitment to our members is unwavering. Our primary goal is to ensure that you receive the best financial services and experience possible.   Along with a brochure which provides a little bit about kstate CREDIT UNION and some of our services, we have included several documents in this packet of information, which are required to be provided to you as our new members.  As we have a vast selection of products and services to offer, we are happy to have you reach out to us to answer your questions.  

We are excited about this merger and serving your community and family.  We will continue to have an office in the Enterprise community.  Our goal is to offer you a credit union that is well-prepared to meet the enhancement needs as well as the challenges of the future.

Thank you for your continued trust and support. It has been a great experience for us, and we have been excited to serve you since March alongside Tricia. We look forward to serving you through this exciting new chapter and beyond. If you have any questions or concerns, please do not hesitate to reach out to us at info@kstatecu.com or 785-776-3003.

Sincerely,

LaRae J. Kraemer
President/CEO
kstate CREDIT UNION

KDCU Letter to Membership

November 13, 2023

Dear Members of Enterprise Credit Union,

I previously reached out to the membership of Enterprise Credit Union to inform you of action taken by my office placing your credit union into Conservatorship.  Since that time, we (KDCU) have been working with kstate CREDIT UNION to provide onsite management of the credit union.  As you may be aware, KSUFCU has continued to work with you and Tricia Grant to ensure there has been no interruption of your services.

As the conservatorship process has concluded, it becomes important to look to the future of ECU and continuing service to you, its members.  After reviewing several options, the decision was made to pursue a merger with kstate CREDIT UNION.  As you will no doubt learn in the coming weeks, kstate CREDIT UNION offers many additional products and services that compliment those products you currently have with ECU.

This merger has already been approved by the National Credit Union Administration (NCUA) and is set to become effective as of December 31, 2023.  Your deposits will continue to be insured by the NCUA for $250,000.  This insurance is backed by the full faith and credit of the U.S. Government.

You should look forward to receiving information from kstate CREDIT UNION in the near future with information about them and their services. I know that they look forward to working with each of you.

Respectfully,

Julie Murray
Administrator
Kansas Department of Credit Unions

ECU in Conservatorship

On Friday March 3, 2023, the Kansas Department of Credit Unions (KDCU) placed the Enterprise Credit Union in conservatorship by issuing an Order to Appoint Conservator. The Order transfers control of Enterprise Credit Union to the KDCU Administrator, Julie Murray. The KDCU Administrator has appointed Kansas State University Credit Union as KDCU’s agent to run the day-to-day operations, continuing to serve all members needs.

Enterprise Credit Union will be open on Monday, March 6, 2023 at 10:00 am and resume normal hours (Monday, Tuesday, Thursday and Friday; 10:00 am to 5:00 pm).

Members with questions about the conservatorship process can review frequently asked questions on the KDCU website – kdcu.ks.gov. Members with questions about the future operations may contact the credit union, beginning March 6, 2023 at the credit union at 109 E 1st St, Enterprise, Kansas or by calling 785-263-8592.

Information from the Press Release issued by KDCU on 3 March 2023