Processors Industrial CU Merger Information

Midwest Members Credit Union
Processors CU Merger FAQ

Processors CU member’s primary account numbers, once converted to Midwest Members CU, will be the same with the addition of an “8” in front of the account number. For example, 12345 converts to 812345.

281077603

• Processors CU member’s primary savings suffix will remain 00.
• Checking account suffixes will convert from 70 to 01.

More account/suffix conversions:

Current Processors CU checks, direct deposits, and ACH payments will continue to process as normal for a period of time up to six months.  Any new ACH items or direct deposits established after November 1, 2021, will require your new account information and the MMCU Routing Number. Please contact MMCU or visit your local branch to obtain this information and/or to place an order for new checks after the conversion. 

Processors CU members will need to follow the steps on the online banking information guide located in the packet to complete the steps for setting up online banking with MMCU beginning November 1, 2021.

Bill Pay

Processors CU Bill Pay services will discontinue on October 24, 2021.  Payments set up or automatically scheduled past that date will not process.  Bill Pay users will need to log into their account prior to October 24, 2021 and print out their payees and collect any data needed to set those payees up in the MMCU Bill Pay system.  Processors CU members will be able to set up their Online Banking and apply for Bill Pay on November 1, 2021.  Existing Processors CU Bill Pay users will be grandfathered in with free Bill Payment.  New member Bill Pay enrollments after November 1, 2021, will be subject to the MMCU Bill Pay fee of $5.00 a month, or free with Direct Deposit or eStatements.  You can visit the Online Banking tab on our website to view a demo that will assist you in setting up your payees. 

Processors CU members will need to re-enroll for eStatements within the MMCU Online Banking system. You can enroll by going to the Additional Services tab, selecting online statement, and agreeing to the terms and conditions. Members will need to have a valid email address to sign up for MMCU eStatements.

Your new MMCU debit cards will arrive 2 weeks prior to the live date of November 1, 2021.  At that time, Processors CU members will be able to activate their cards and setup a PIN.   Processors CU members will need to discontinue using their old card on November 1, 2021 and begin using the new MMCU debit card.

Processors CU Members with credit cards will receive a separate letter with information regarding the credit card conversion process.

Currently, Processors CU member’s Vacation Club funds move to the share account on April 1^st annually.  Effective November 1, 2021, Vacation Club owners will be allowed two withdrawals in a calendar year at any time. 

Currently, Processors CU member’s Christmas Club funds will move to the share account on October 1, 2021.   Effective November 1, 2021, Christmas Club funds will automatically transfer to the share on October 31^st annually.

The minimum share deposit amount at account opening will be changing from $25 to $5. With the change, Processors CU members will have $20 released into your share account on November 1, 2021.

Dividend Calculation and Payments

Processors CU members currently receive dividend payments quarterly. Effective November 1, 2021, dividends will be paid monthly.  Share accounts will be paid at the end of each month, and Certificate/IRA’s will pay monthly on their anniversary date. 

Processors CU branch hours of operations will be changing on November 1^st, 2021, to match current Midwest Members CU hours of operation. You may visit www.midmembers.org for more information.

• Wood River Branch: 101 Wesley Dr, Wood River, IL 62095
• Maryville Branch: 2813 North Center Street, Maryville, IL 62062

Lobby and Drive Thru Hours:

• Monday – Thursday: 8:00 am - 5:00 pm
• Friday: 8:00 am – 6:00 pm
• Saturday: 8:00 am – 12:00 pm

*** The Granite City Processors Location will be closed on Friday, October 29^th and Saturday, October 30^th, 2021 to complete the final steps of converting all information to the Midwest Members CU systems. ***

Processors CU’s phone number will be changing on November 1, 2021, to the Midwest Members CU phone number 618-254-0605. The existing Processors CU number will re-direct for a short period of time. 

Processors CU members will now have access to their accounts with Midwest Members Credit Union wherever they live, work, or travel through the Shared Branching and CO-OP ATM Network. The CO-OP ATM network offers nearly 30,000 surcharge-free ATMs, covering all 50 states and 10 countries. There are also more than 6,000 credit union branches and self-service Shared Branch express terminals in all 50 states. For more information, visit: www.midmembers.org/about/about-us/branch-atm-locator.

Any Safe Deposit Boxes opened at Processors CU prior to the conversion on November 1, 2021, will remain paid through June 2022.  At renewal, all boxes will be due with the current MMCU box prices.  Any new boxes opened after conversion will be subject to MMCU box pricing.  All pricing and payment schedules are listed on the current MMCU fee schedule.

For additional information or any assistance please email support@midmembers.org or call 618-254-0605.

Midwest Members Credit Union website: www.midmembers.org

Midwest Members Credit Union / Processors Industrial Credit Union Merger FAQ page: www.midmembers.org/processors-cu-merger-information.

All Midwest Members Credit Union Rates and Fees will take effect November 1, 2021. Please notate our fee schedule in the packet or for more information, please visit:

• Loan Rates: www.midmembers/loans/loans/loan-rates  
• Deposit Rates: www.midmembers.org/accounts/savings/savings-rates
• Fee Schedule: www.midmembers.org/about/information/fee-schedule