Merger Planned for Healthcare Associates Credit Union (HACU) and Baxter Credit Union (BCU)

June 1, 2026

Chicago - HealthCare Associates Credit Union (HACU), a $479.4 million credit union headquartered in Lisle, IL, and Baxter Credit Union (BCU), a $6.5 billion credit union headquartered in Vernon Hills, IL, have announced their intent to merge. Pending regulatory and member approvals, the two credit unions will bring together more than 90 years of combined experience serving healthcare workers and their families, united by a shared commitment to expand value, strengthen service, and create more meaningful, accessible financial support for members across the United States and Puerto Rico. HACU and BCU bring established roots in the Chicago metro area, along with BCU’s broader national reach, creating a natural next step to deepen local relationships and expand access for members. 

The Boards of both credit unions unanimously support the merger and will be submitting applications for regulatory approval. Once approval is obtained, HACU members will have the opportunity to vote on the proposal.

“Both organizations were founded to serve those in the healthcare community, and that shared purpose is still at the center of everything we do,” said Jim Block, current Executive Vice President and Chief Operating Officer, and incoming President of BCU. “Together, we will build on that foundation to create even more value for our members and new opportunities for our employees, while preserving the care and personal service people count on.”

“For us, this is about honoring who we are while strengthening what comes next,” said Joe Kregul, President and CEO of HACU. “We see a natural alignment in values, culture, and commitment to members.” Jack Gilbert, Chair of the HACU Board of Directors stated, “Partnering with BCU allows us to expand on HACU’s already strong foundation, enhancing our capabilities while staying true to the relationships and local identity that matter so much to our members.”

The HACU name will continue as HealthCare Associates Credit Union, powered by BCU. This endorsed brand reflects a shared commitment to preserving HACU’s legacy while expanding the strength and resources behind it.

“Bringing these two organizations together is especially meaningful to me because of how closely aligned we are in our mission and mindset,” said Mike Valentine, President and CEO of BCU. “We share a deep respect for the people we serve and for the employees who support them each day as financial first responders. Together, we’re combining personalized care with expanded capabilities, creating a stronger, more resilient organization that will continue to elevate financial well-being for our members and communities.”

Upon merging, HACU members will benefit from expanded access and convenience through a broader branch and ATM network, along with 24/7 bilingual support. They will also gain enhanced digital tools and additional financial well-being resources, making it easier to navigate everyday financial needs and bigger life moments with confidence, while continuing to experience the trusted, personal connections that define both organizations.

For more information and ongoing updates, visit BCU.org/HACUmerger.

About BCU: BCU is a not-for-profit, member-owned credit union that is fiercely dedicated to Empowering People To Discover Financial Freedom. With $6.5B in assets, BCU is committed to providing a fast, easy, and secure banking experience along with extraordinary service to 370,000 members. The BCU field of membership includes employees of Fortune 100 companies and membership-driven organizations across the US and Puerto Rico, plus their extended families. Membership is also open to individuals who live or work in Northern Illinois, Southern Wisconsin, and Puerto Rico, as well as subscribers of BCU’s wholly owned Credit Union Service Organization (CUSO), Life. Money. You.®. All BCU members enjoy lifetime access to financial services and well-being programs that inspire confidence through the brand promise “Here Today For Your Tomorrow.” 
To learn more about how we can help you realize your financial dreams, visit BCU.org.
For media inquires, visit BCU.org/About-Us/Media-Relations.

  

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