Merger of TopLine Financial Credit Union and Anoka Hennepin Credit Union Approved
Anoka Hennepin Members Vote in Favor
Anoka Hennepin Credit Union held their Special Members' Meeting on June 27, 2024, where 1,037 members cast their vote, with the majority voting in favor to combine the two credit unions, and formal approval will be granted by state regulator, the Minnesota Department of Commerce, and federal regulator, the National Credit Union Administration (NCUA), with legal merger effective as of August 1, 2024.
Legal Merger Effective August 1, 2024
TopLine welcomes Anoka Hennepin Credit Union members to their family as of August 1, 2024. Joining forces marks a significant milestone in the history of both credit unions and pledges to enhance member convenience, commitment to financial wellness, and expand community impact. The merger makes TopLine the 9th largest credit union in Minnesota, with over $1.1 billion in assets.
Together, We All Do Better!
The newly combined credit union is $1.1 billion in assets and will operate under the TopLine Financial Credit Union and Anoka Hennepin Credit Union, a division of TopLine Financial Credit Union, for one-year, and thereafter will roll under the TopLine Financial Credit Union brand. All 180 employees have been retained to serve nearly 70,000 members from 10 branch locations in 15 counties across the metro and northern suburbs of Minneapolis/St. Paul.
Mick Olson will serve as President and CEO of TopLine Financial Credit Union. Jeff Claussen will serve as President of Anoka Hennepin Credit Union, a division of TopLine Financial Credit Union until his retirement. Thereafter, Mick Olson will serve as President and CEO.
"The merger will provide additional benefits for all members, employees and communities and we're thrilled to welcome those from Anoka Hennepin Credit Union to our TopLine family. Together, our shared vision and passion of helping members financially succeed and supporting the betterment of communities will remain a core commitment."
–Mick Olson, President and CEO of TopLine Financial Credit Union.
Financially Sound & Member Benefits
Aimed at benefitting members of both credit unions, the merger has been designed to provide access to enhanced financial services, digital banking technology, and an expanded branch and ATM netowrk. With strong capital ratios over 9%, the merger results in an even stronger credit union with greater capital base for growth, expanded market share, and an increase in economies of scale that will lower operating costs leading to overall benefits to all credit union member-owners, such as competitive rates, advanced technology, free financial education services and community philanthropy efforts.
Thank you!
Thank you for being a member-owner and part of our TopLine family! We look forward to continuing to help you with all of your financial needs.
Please contact TopLine at 763-391-9494 or Ask@TopLinecu.com if you have any questions.