Merging With Chattanooga Federal Employees Credit Union for Continued Service and Support
After many decades of independent service to BlueCross employees, the BCBST Employee Credit Union is taking on a new identity later this year.
Effective July 1, the credit union will join and become a part of the Chattanooga Federal Employees Credit Union (CFECU) – and will continue to serve our employees under that new name.
Why we’re making this change
More than 1,600 BlueCross employees actively use our employee credit union for savings accounts, loans, and more. However, since our move to a remote-first environment, the Cameron Hill location has seen a significant reduction in in-person traffic. Like our other campus consolidation efforts, this merger will help us reduce our footprint and enable us to more easily move to a new location in the future.
Although fewer people are visiting the Cameron Hill branch, membership is still strong and many of you rely on shared branch locations. CFECU is already the branch our members use most – making this merger a natural fit to help you keep banking in the ways that work best for you.
Plus, our three credit union employees have been offered positions in the new organization, so you may continue to work with familiar faces.
What will stay the same
CFECU is committed to minimizing any disruption for account holders. That means:
You’ll be able to keep your same account number(s).
You can continue to use shared branch locations, plus an extensive ATM network in the Chattanooga area.
You’ll still have access to popular, unique products you’re used to, including Helping Hand loans and more.
CFECU has a user-friendly mobile app to help you manage your accounts, even if you can’t make it to a branch in person.
What you need to do next
Like our employee credit union, CFECU is also a not-for-profit, member-owned institution. That means you have a say in big decisions such as this.
Members will be asked to cast a ballot on this change in the next few months, and that measure must pass for this merger to take place.
Our employee credit union is working to schedule that vote date, as well as an open Q&A session beforehand to give you a chance to ask questions. You’ll receive additional details about those events once they’re scheduled.
Finally, we know this may feel like a big change, especially to those who have been members for many years. We want to assure you that CFECU is a member- and community-focused institution, and they’re eager to provide BlueCross employees with the same thoughtful, personal service you’re used to.
Pat Sullivan
VP & COO, BlueCare Tennessee
Board President, BCBST Employee Credit Union