Merger Information

Florida Rural Electric Credit Union Logo

Welcome members of Florida Rural Electric Credit Union!

We are excited to announce the upcoming merger between Florida Rural Electric Credit Union (FRECU) and Calhoun Liberty Credit Union (CLCU). This merger is a fantastic opportunity for both credit unions to expand services, improve financial strength, and create new opportunities for all members.

Last Updated: June 4, 2024

Why the Merger?

The leadership of FRECU and CLCU believe that merging will bring significant benefits to our members and our communities. By combining resources, we can offer increased stability and more financial products and services. Our goal is to maintain the best of both credit unions while creating something even better.

Why the Merger?

Greater Financial Strength

The combined credit union will have assets of roughly $154 million, allowing for more robust services.

No Job Losses

All current FRECU employees have been offered positions at the merged credit union.

Expanded Services

Members will have access to a broader range of products, increased access to cash, and more physical locations.

Higher Deposit Insurance Coverage

CLCU offers Excess Share Insurance (ESI) for the benefit of all members.

Community Focus

Both credit unions have a deep commitment to serving their communities and will continue to do so.

Frequently Asked Questions (FAQ)

We are excited to announce the upcoming merger between Florida Rural Electric Credit Union (FRECU) and Calhoun Liberty Credit Union (CLCU). This merger is a fantastic opportunity for both credit unions to expand services, improve financial strength, and create new opportunities for all members.

  • June 4, 2024: Special meeting for FRECU members to vote on the merger. If you can’t attend in person, mail-in ballots must be received by 2:00 PM EDT on the same day.
  • If the merger is approved, the transition of accounts from FRECU’s system to CLCU’s system is expected to occur during 2025. Members will receive detailed information well in advance of any changes.

The merger should have minimal impact on your membership. Your existing accounts at FRECU will be transferred to CLCU with the same balances and ownership. Your account numbers may change at some point, but you’ll receive sufficient notice before that happens. Until then, your transactions will continue to clear using your current account numbers, checks, and cards.

Yes, all deposits in the merged credit union will continue to be federally insured by the National Credit Union Administration (NCUA). This ensures that your money is safe and protected.

In addition, CLCU offers Excess Share Insurance (ESI) for the benefit of all members. This coverage insures deposits up to an additional $250,000, on top of NCUA coverage. This means your deposits are insured for a total of up to $500,000 at no cost to you.

With the merger, you’ll have greater access to products and services. This includes more branch locations, a broader network of ATMs, and expanded offerings like online banking and mobile apps.

For any questions or concerns about the merger, you can contact Thomas G. Flowers, CEO of Calhoun Liberty Employees Credit Union, at 850-674-4527. We are here to help and answer any questions you might have.

All current employees of FRECU will continue working with the merged credit union. They are excited about the opportunities this merger brings and are committed to ensuring a smooth transition. The same team of familiar faces will be there to assist you with your financial needs and to introduce the new services and benefits that come with the merger with CLCU.

CLCU is a member-owned financial cooperative dedicated to the belief that financial services should put people first. Serving the residents, workers, students, and business owners of Calhoun, Franklin, Gulf, Gadsden, Jackson, and Liberty Counties in Florida, we are committed to fostering a sense of community and providing personalized financial solutions.

With over 6,000 members and more than $100 million in assets, CLCU aims to make a positive impact through a wide range of financial products and services, from personal and business accounts to loans and online banking. Our cooperative spirit is reflected in our dedication to serving people, not just processing transactions. As part of our commitment to convenience, we are also part of a network that provides our members with access to thousands of ATMs nationwide.

Our vision is simple: to be a trusted financial partner that truly cares about the people we serve.

Members of the CLCU and FRECU team will conduct market research to finalize brand determination. In the interim, the former FRECU will be called Florida Rural Electric Credit Union, a Division of Calhoun Liberty Credit Union.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

Calhoun Liberty Credit Union text

We provide links to third-party websites, independent from Calhoun Liberty Credit Union. These links are provided only as a convenience. We do not manage the content of those sites. The privacy and security policies of external websites will differ from those of Calhoun Liberty Credit Union. Click “Continue” to proceed or click “Return to Site” to stay on this site.

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