Educational Systems FCU of Greenbelt, Md., has taken over the failed Montgomery County Teachers FCU.
MCT members will be charged $35 each. "One-time $35 account conversion fee to be charged September 30, 2012."
I found out about it from this news article... not from the credit union. Educational Systems Charging MCT Members $35 Merger Fee
That "newsletter" may have been mailed to members receiving paper statements but the information has been hidden from members who are getting e-statements. http://www.mctfcu.org/wp-content/...ER_Web1.pd
Members receiving e-statements got this vague comment in the monthly email: "Your MCT Federal Credit Union monthly eStatement is now available to view. Please visit mctfcu.org
and log into Online Banking to view your statement and a special Merger Newsletter. The newsletter includes important information about the merger with Educational Systems Federal Credit Union including where you can find the latest updates and a new fee disclosure. "
Additional article ESFCU CEO Says $35 Merger Fee Justified