FAQ for Premier /The Municipal Federal Credit Union Merger

We’re excited for the proposed merger opportunity! Pending a “Yes” vote from membership, we’re sure you will have many questions regarding the upcoming merger. Please check back as we address more of them moving forward!

Will my account number change?

Most members will not see a change in their account number, but there is a possibility 5% of the membership will need a new account number due to duplication. However, rest assured we will work closely with these individuals to make this as streamlined and simple as possible.

What happens to my direct deposits and auto withdrawals?

The Federal Reserve will temporarily route all direct deposits and ACH transactions to Premier Credit Union post-merger so there should be no immediate change. You will want to update your employer and any merchants with Premier’s routing number and your new account number if you receive one, but this will not need to be done immediately.

Please note – if you have a duplicate member number to a current Premier member, we will issue you a new number and work with you to get all direct deposit and ACH information updated prior to the change.

Do I need to change my social security deposit?

You do not need to change anything regarding your social security right away since The Municipal Federal Credit Unions routing number will transfer to Premier Credit Union. However, it is a best practice and recommended that you change it within the first 6 months. Our team will be happy to walk you through this process.

What happens to my IPERS benefits?

Similarly, you do not need to change anything regarding your IPERS benefits right away since The Municipal Federal Credit Unions routing number will transfer to Premier Credit Union. Again, it is a best practice and recommended that you try and change it within the first 6 months. Contact us with any questions!

Do I need to change payroll?

You do not need to change anything regarding your paycheck deposit right away since The Municipal Federal Credit Union’s routing number will transfer to Premier Credit Union. However, it is a best practice and recommended that you change it within the first 6 months. Our team will be happy to walk you through this process.

Will I still have “privileged status” on my ATM Transactions?

Yes! If members support the merger, you will have surcharge-free access anytime you use these machines, as Premier is a part of this network. Just look for these logos to see if the machine qualifies!

Will I need new checks and/or debit cards?

All members will receive a new debit card. These will be mailed prior to May 1 and may be activated as soon as they are received. These cards will work for purchasing soon after May 1 once all balances have been transitioned.

Your TMFCU checks will continue to work temporarily post-merger. It is recommended you switch to using Premier Credit Union checks within 6 months of the merger. You may request a complimentary box of checks by contacting the credit union.

What is Premier’s Routing Number?

273073848

What happens to the existing employees of TMFCU?

The staff will be joining the Premier Family! We are eager to grow our team to serve the members and community.

Will I still have continuing NCUA insurance with Premier Credit Union?

Yes! Individual member accounts will still be insured for up to $250,000.

What happens to the existing branch location at 103 S. Fairmount Street?

This branch office will remain in service as a Premier Credit Union branch office.

I’m in the middle of a loan, will my rate change?

Premier Credit Union will honor any current loan or savings rate that you currently have. However, if a current Premier rate provides a greater benefit, you can take advantage of those opportunities.

I’m in the middle of a CD, will my interest rate change?

Premier Credit Union will honor any current loan or savings rate that you currently have.

What happens to my current Bill Pay setup?

Unfortunately, your Bill Pay setup will not transfer over. However, there will be support both in-branch and remotely to assist with setting up your Bill Pay on Premier’s system.

What is Premier’s history with TMFCU?

Premier Credit Union and The Municipal Federal Credit Union have shared a longstanding partnership for over a decade, primarily through the mortgage CUSO, Premier Lending Alliance. Premier Lending Alliance is a wholly owned subsidiary of Premier Credit Union. Notable individuals like Loraine, Roger, and Mikkie have always maintained a positive working relationship with Premier Lending Alliance throughout the years. Premier Lending Alliance has successfully served numerous credit union members over its operational history.

Where is Premier located currently?

The main branch office of Premier Credit Union is located at 800 9th Street in downtown Des Moines, Iowa. They also have branch offices in West Des Moines, Urbandale, Ames, and have plans to put a branch office in Ankeny, Iowa!

What should I be doing to prepare for the upcoming proposed merger?

Please ensure that TMFCU has all correct and updated contact information for you on file. This includes any mailing addresses, telephone numbers and email addresses.

How can I reach Premier Credit Union directly?

You can reach Premier Credit Union a variety of ways. Please click this link for more information!