HACU & BCU Merger

HACU is financially strong and well-positioned. This decision is about making the Credit Union even stronger; it’s about building on what’s already working and taking a strategic step forward.

We took an intentional approach to finding a partner that aligns with who we are - our healthcare focus, our commitment to members and employees, and our long-term vision. BCU stood out because of that strong alignment.

This partnership brings together two high-quality, financially sound credit unions with shared values and a common mission. Together, we’ll be more resilient, more scalable, and better equipped to invest, grow, and deliver even more value for our members - now and in the future.

This is a forward-looking decision, one that positions HACU and our members for continued strength, stability, and opportunity.

• More money in your pocket through higher deposit rates, competitive loan options, and less reliance on fees.
• Expanded access and convenience with more branches, nationwide ATM networks, and a best-in-class mobile banking experience.
• A more powerful digital experience with continued investment in modern, easy-to-use tools available whenever and wherever you need them – especially for people on-the-go who are focused on caring for others.
• Enhanced security and protection with advanced cybersecurity and fraud prevention capabilities.
• More products and services to support your financial goals, including expanded mortgage and lending options, wealth management, “bundled” products designed for busy healthcare professionals, high-yield accounts, and personalized financial wellness support.

In addition, HACU members will receive a generous equity distribution at the time of the merger and access to exclusive offers and cash bonuses after the merger, adding even more immediate value to your membership.

At its core, this partnership is designed with you at the center. By bringing together two strong, like-minded credit unions, we’re creating a more resilient, more capable organization - one that can invest more, do more, and deliver even greater value over time.

HACU’s Board and leadership believe strongly that this is the right step forward that honors our healthcare legacy while opening the door to even more opportunity, strength, and long-term benefit for our members.

The target date to complete the HACU employee transition is December 31, 2026. However, we recognize that this is a particularly busy time of year for members, so our approach is designed to keep your experience top of mind by prioritizing your convenience and delivering the best possible service. Therefore, the target date for the member transition will be early in Q1 of 2027, allowing you peace of mind during the holiday season and ample time for a thorough, seamless integration. 

As HACU's recent research indicated, HealthCare Associates Credit Union is a strong brand that has just undergone a modern makeover and a refreshed narrative. Baxter Credit Union, known by most as BCU, is also a strong brand that serves reputable partners, and like HACU, several healthcare companies, hospital systems and Associations. Not only were our Credit Unions formed at about the same time in 1979 and 1981, respectively, but our shared healthcare focus is a significant part of what makes this merger make sense. Once HACU merges with BCU, the endorsed brand will be HealthCare Associates Credit Union, powered by BCU. The HACU name, brand, and local identity will be preserved.

BCU has a long history of providing unparalleled value, unique products, and extraordinary service for members, its partners and employees. BCU’s stability and service quality is reflected in their exemplary regulatory ratings and a sustained Net Promoter Score (an industry measure of member satisfaction) that’s nearly double that of national banks.

To offer even more peace of mind:

• All BCU deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).
• Additionally, you may take advantage of BCU’s SafeGuard Savings - Extended Insurance account. This is a unique product that offers access to millions in NCUA (National Credit Union Administration) share insurance through credit unions in the ModernFi Network. SafeGuard Savings is designed to protect your funds with extended NCUA share insurance and help your money grow with a competitive dividend rate. With this account, you can maximize your share insurance coverage and enjoy flexible, convenient access to your funds, all managed in one place.
• BCU maintains a diversified portfolio of member loans and investments and has sound risk management practices to ensure safety of your deposits.
• Healthy and thriving since 1981, Baxter Credit Union has a net worth ratio of 10.15%, well above the 7% net worth ratio that the NCUA considers well-funded and well-capitalized.

HACU members will continue working with the same people, at the same branches they know and trust.

No - there are no planned branch closures as part of this merger.

Our commitment is simple: maintain and enhance convenient, easy access for every HACU member. If a branch location ever needs to change, it will be within a close proximity (typically within 5 miles), ensuring you continue to have a convenient, familiar place to bank.

In fact, this partnership gives you even more flexibility and access. Along with your existing branches, you’ll benefit from expanded BCU locations, a broader ATM network, and strong digital banking options, so you can choose what works best for you, whether that’s in person, online, or on the go.

As we look ahead, we’ll continue to thoughtfully evaluate our locations over time - just as we always have - to make sure we’re showing up where and how our members need us most. But our goal remains consistent: easy access, great service, and a seamless experience wherever you choose to connect with us.

Only slightly. After our organizations come together, HealthCare Associates Credit Union branches will continue to operate under the HACU name, with the added tagline, “powered by BCU”.

Yes! All existing HACU branch locations will remain open. Plus, you will now have access to seven additional BCU Community Branches in the Chicagoland area (Vernon Hills, Libertyville, Crystal Lake, Gurnee, Round Lake Beach, Lake Zurich, Mt. Prospect (coming soon), Illinois, and Kenosha, Wisconsin). Please visit BCU.org, select ATMs & Locations and enter the zip code to find the most convenient location to serve your needs.

Yes! You will continue to have access to any ATM in the Allpoint and Co-op networks as you do today. You will also gain expanded access to additional networks such as Sum and Alliance One.

BCU offers a wide array of lending, savings, and demand deposit products, including “bundles” specifically designed for healthcare professionals, advanced embedded digital solutions, financial planning, and wealth management, all protected by the highest level of enterprise security. Once added to HACU’s already strong product offering, our combined organization’s offering will make it easier for us to fulfill our purpose of providing accessible, affordable financial services on a national scale — tailored to healthcare workers, their families, and the communities we serve.

We don’t anticipate discontinuing any HACU products because of the merger.

The date that member accounts transition from HACU to the combined organization has not yet been determined, but it will likely be in January 2027. The goal is to make the transition smooth and effortless. HACU members will receive multiple communications over the coming months to keep you informed and comfortable every step of the way. You will be notified once the account transition date is finalized.

There’s nothing you need to do at this time. HACU will automatically transfer all your open HACU share and loan accounts, and mail new Debit cards, Credit card(s), and checks (if applicable) on your behalf closer to the transition date which will be outlined in the Change In Terms. All new and/or reissued Debit and Credit Cards will feature “tap to pay” functionality and will have access to digital wallets like Apple Pay. There may be actions you are required to take regarding a member vote of the merger, direct deposit, bill pay, automated transfers, activation, etc. Those will be communicated much closer to the date of the transition.

You will receive a welcome guide, starter checks (if applicable), and your new HACU membership account number shortly before the yet to be determined final transition date.

You can continue to access your HACU accounts exactly the way you are today. There’s nothing you need to do at this time. You will be notified once a transition date has been set, and we will provide a welcome guide that explains how your accounts will transition from HACU to HACU, powered by BCU.

We are so excited for you to join the BCU family. However, your account(s) will automatically be moved to on the transition date, which is yet to be determined. You will not be able to transfer your accounts to BCU prior to that date.

Contact HACU via the Contact Us link on HACU.org or visit a branch to close your account and pay off any outstanding loans and/or credit card balances. Any open account with a balance as of the close of business on the yet to be determined final transition date will be transferred to the new HACU as outlined in the Change In Terms.

Yes, membership eligibility extends to your family, too! Eligible family members include immediate or extended family of an existing HACU member related by blood, marriage, fostering or adoption, including spouses, parents, children, siblings, domestic partners, grandchildren, grandparents, aunts, uncles, nieces, nephews, and cousins.

BCU is committed to creating an inclusive and accessible environment for members. We prioritize accessibility digitally and at our physical locations, by offering services, resources, and support channels to ensure everyone can access and use BCU products and services effectively.

If you have questions about your accounts, please continue to reach out to the HACU team at 800-942-0158 or through the contact form for assistance.

If you have questions about the merger, please reach out to any representative at HACU, the Member Development team at BCU (MemberDevelopment@BCU.org), or leave a message in our dedicated inbox at HACU.merger@BCU.org. We promise to respond to all email inquiries within 1 business day. Please keep in mind, the BCU team will NOT have access to any HACU account information until the merger is finalized and accounts transition to the combined organization.