Former St. Vincent Hospital Credit Union members:
Frequently Asked Questions
The primary reason for our merger is to enhance the services, benefits, and convenience to members of both credit unions and the communities we serve. Our goal is to bring members the best value from their credit union while ensuring we continue to grow and thrive. Partnering with another established credit union will significantly increase operating efficiencies so we will have the resources to deliver much more to SVHCU members along with the same personalized service we always provide.
Central One is a not-for-profit, cooperative financial institution serving Massachusetts residents since 1952. Founded as an occupational-based credit union for the New England Electric System employees, Central One has grown into one of the largest federal credit unions in Central Massachusetts. Its recent field of membership expansion includes anyone who lives, works, worships, volunteers, attends school, or owns a business in all of Worcester County and parts of Middlesex and Norfolk counties.
A merger will provide the resources to better serve your financial needs through added branches and ATMs, well-developed online and mobile technologies, new products and services, and highly competitive rates. While nothing will change until member approval is received and the actual conversion takes place, this partnership will mean we can better anticipate and meet all your financial needs.
No. Family members of an existing SVHCU member will continue to be eligible for membership. All joint owners are asked to become a member of Central One FCU.
Your accounts will continue to be insured through the National Credit Union Share Insurance Fund, backed by the full faith and credit of the U.S. Government, and managed by the National Credit Union Administration (NCUA).
Yes, the credit union will remain open, and you will continue to receive the same personalized service you do today. Currently, this location cannot accept transaction(s) for a Central One FCU account.
Our regulators, the National Credit Union Administration (NCUA) and MA Division of Banks, have approved our merger plans. St. Vincent Hospital Credit Union members have approved the merger. The credit union merger effective date was July 1, 2021, St. Vincent Hospital Credit Union is now a division of Central One Federal Credit Union. The transfer of SVHCU accounts will take place on November 30, 2021.
You will continue to use ATMs as you do today. The ATM’s have been updated and placed in the same convenient locations.
The accounts will not change until the conversion to Central One FCU on December 1, 2021. The Conversion Guide will provide the change of terms for SVHCU account(s) to the new COFCU account(s).
You will receive a Conversion Guide along with new disclosures by November 1, 2021, which lists the Change of Terms of the SVHCU account(s) to the COFCU account(s).
All certificate of deposits and loan rates will remain in effect as described in your account and loan agreements.
Your account number(s) will be converted to Central One FCU account number(s) and you will be notified of the changes.
Yes. On Dec 1, 2021, the new routing number will be 211387169.
Yes. Your SVHCU debit card will continue to work up to November 30, 2021. Do not destroy your SVHCU debit card until after December 1, 2021. The Conversion Guide will provide a timeline and information specific to your debit card.
At this time, you will continue to use the same login credentials to access your online banking via http://svhcreditunion.org/ until further notice.
Direct Deposits, ACH, payments, checks, and recurring debit card transactions will continue to process as they do now.
You will continue to use your St. Vincent Hospital Credit Union checks up to November 30, 2021.
The President/CEO of the merged credit union is David A. L’Ecuyer.