The POWER of Three

We are excited to announce our proposed partnership with Nuvision Federal Credit Union to bring you even more member benefits!

The Board of Directors and Management of First Cheyenne Federal Credit Union (First Cheyenne) are eager to share the exciting news that we have entered into a partnership agreement to merge with Nuvision Federal Credit Union (Nuvision). We have spent a lot of time looking at ways we can grow most effectively and provide our members with greater convenience and value. Our President, Bill Helms, is planning his retirement so we also considered succession planning as part of long range plans. Exploring cooperative mergers with other credit unions has always been a strategy we’ve looked at to achieve both of these goals. Along with organic growth, it’s a way to quickly and cost-effectively grow and have the resources to expand our product portfolio and add delivery channels. In planning for the future, both credit unions realized that a combined organization would bring greater strength and competitive advantages moving forward. The combined deposit and capital base, along with increased economies of scale give us the resources to compete more effectively and better serve our members and our communities over the long-term.

After investigating options for merger partners of different sizes and locations, the Board of Directors voted to pursue a merger with Nuvision Federal Credit Union. Nuvision is headquartered in Huntington Beach, California and has been in business since 1935, just like First Cheyenne, making them a great choice for a merger partner. Why California?
Well, given the nature of financial services today we were not really focused on the credit union partner’s location but more on their philosophy and size. Not many large credit unions we spoke with were willing to adapt to our philosophy and maintain a strong commitment to our membership and the local Cheyenne community– Nuvision was. We also wanted a partner large enough to have an impact in our market and give our members the products and services only a larger institution can sustain far into the future.

The Power of Three

In addition to the proposed merger partnership with First Cheyenne and Nuvision, Unified People’s Federal Credit Union (Unified) has also proposed to merge with Nuvision. First Cheyenne, Unified, and Nuvision are working together to bring our combined memberships even more value. If we receive all the required approvals, these combined partnerships will bring even more beneits to members; such as two branch offices in Cheyenne. All three credit unions are collaborating together to bring more value and convenience to our combined membership.

What do you stand to gain in this partnership merger?

Easier Account Access & Support

  • Expanded telephone service hours
  • Online live chat available Monday through Friday

New Technologies for Added Convenience

  • Comprehensive free online banking with bill pay and FinanceWorks for budgeting and access via Quicken or Money
  • Upgraded Mobile Banking APP with mobile check deposits and text banking
  • Mobile Loan Applications
  • POP money transfers – person to person payments

More Products & Services

  • New checking & savings account options, in addition to Free Checking
  • Robust mortgage loan products, with local specialized mortgage staff
  • Business services, including loan and deposit services
  • Student loans
  • Investment & nancial planning services
  • Access to bilingual services
  • Check cashing services

What’s staying the same?

  • Same Local Leadership & Branch: Current First Cheyenne leadership will remain with our combined credit union, and our branch will stay in our existing location in Cheyenne.
  • Personal Service & Staff: We will remain member owned and member focused, providing the personal service you have always received, by the same staff that serve you today.
  • Nationwide ATM Network: You will continue to have access to the CO-OP ATM network with nearly 30,000 surcharge- free ATMs, covering all 50 states and 10 countries and shared branching locations
  • Nationwide Branch Network: You will continue to have access to the Shared Branch Network of more than 5,000 credit union branches nationwide.
  • Account Safety & Security: Your accounts will continue to be federally insured just as they are today through the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U.S. Government.
  • Community Commitment: We will remain committed to our community, creating a special $1 million investment fund to increase our local outreach and support programs.

Both Nuvision and First Cheyenne are well capitalized and healthy. Both are committed to member service and a legacy of hardworking members. We, and the volunteers and staff of the credit union, support this merger partnership.

What’s Next?

We are currently finalizing the due diligence phase of the merger process and we are creating the regulatory merger application for our regulator, the National Credit Union Administration. We expect to le the merger application with our regulator for approval in November, which could take approximately 30-60 additional days. Following regulatory approval, the merger will be put to First Cheyenne membership vote. We hope to have the merger finalized during early-2018, assuming all approvals are received.

We greatly appreciate your membership and support of this exciting opportunity. Please don’t hesitate to call 307-632-8111/800-747-2490 or come to the branch with any questions. Thank you for your time and consideration.

Board Chair, Phil Leichweis and President, William Helms signatures

Frequently Asked Questions

Proposed Merger

  • Why are First Cheyenne, Unified People's and Nuvision partnering?

    In planning for the future, we realized that partnering with another healthy, like-minded credit union would bring members much greater value, enabling us to offer many new products, services and technologies that our members expect from their financial institution - with the same personalized service we offer today. Our Boards agreed that this is the right decision to serve members and their best interests — today and for the long term.

  • Who is Nuvision Federal Credit Union?

    Founded in 1935, Nuvision (nuvisionfederal.com) is a financially strong, well-capitalized, full service credit union with assets of $1.5 billion. Headquartered in Huntington Beach, California, Nuvision is federally insured with 14 branches and 87,000 members. Most importantly, Nuvision shares our values and will continue our member-focused philosophy and community commitment.

  • How will members benefit?

    You can expect much more from your credit union through this partnership. You will have easier account access and support with 30,000 surcharge-free ATMs, expanded phone service hours, online live chat. This partnership will also bring the latest technologies in internet and mobile banking services, including mobile check deposit and text banking. You can expect many more products and services, including new account options, additional mortgage loans with a local mortgage specialist, business banking, student loans, and investment and financial planning services, to list just a few benefits!

  • What about the FACES I know at First Cheyenne, will they stay the same?

    Yes. Our goal is for all employees to remain with our combined credit union, so you can expect to see the same staff members that serve you today! In fact, as part of a larger organization our employees will have opportunities to further grow and develop. We want our members to continue to benefit from the same friendly help and smart advice they have become accustomed to.

  • Will the Cheyenne branches remain open?

    Yes, our branches will remain open, and we will also have the resources for upgrades, to offer you an even better experience!

  • Will I still have access to the shared branching network?

    Yes, we will continue to participate in the shared branching network. You will also continue to have access to the CO-OP ATM network with nearly 30,000 surcharge-free ATMs covering all 50 states and 10 countries.

  • How will this partnership affect rates and fees?

    This allows us to streamline our operational costs, which will directly benefit our members because we will be able to continue to offer highly competitive rates and fees. Terms and conditions on existing share certificates and loans will not change.

  • How will my accounts be impacted?

    Nothing will change until the partnership receives all approvals and we integrate the operations of the three credit unions.
    We will work hard to make the integration as seamless as possible, so you can conduct business as you always have.

  • Will you continue to offer Free Checking?

    Yes, we will continue to offer Free Checking, and, there will be many new products and services to choose from through our partnership! After we've received approval, we will send you detailed information about all the new products and services available to you.

  • Will my accounts continue to be insured?

    Your accounts will remain safe, sound and federally insured through the National Credit Union Share Insurance Fund, a U.S. Government Agency, just as they are today.

  • What are the advantages of a larger organization?

    A larger deposit and capital base means expenses are spread over a bigger member base, significantly decreasing our expense structure, increasing operating efficiencies, and reducing risk associated with difficult economic or rate environments. These economies of scale would give us the resources to better serve members, make the right long-term infrastructure and technology investments, and become vastly more competitive.

  • Are First Cheyenne and Unified People‚Äôs financially sound and are they being acquired?

    Both credit unions are financially sound with net worth ratios that exceed regulatory requirements. This is not an acquisition like a bank; this is a partnership to bring greater value to members. The Boards of Directors of Unified People’s and First Cheyenne have independently agreed to merge with Nuvision, (subject to regulatory and member approval) as they believe the partnerships will bring greater value to the members of both credit unions.

  • Will you remain committed to the Cheyenne community?

    Our commitment to our local community will be even stronger. Through the partnership, we will create a special investment fund to increase our outreach and support programs in the Cheyenne area to expand our involvement in our community.

  • What is the process and timeline?

    The next step is approval from our regulators, after which we will ask you, the members to vote on the merger. We hope you will give your approval for this exciting partnership opportunity. Assuming all approvals are received, we hope to have the merger finalized early next year, with our systems fully integrated by the end of the 2018.

  • What if I have additional questions?

    We're here to answer your questions! Please don't hesitate to contact us with any questions about this partnership and what it means to and for you.
    Phone (307) 632-8111 or (800) 747-2490