Merger Updates
Cast Your Vote Here:
Dear Member:
Since 1979, Healthcare Plus Federal Credit Union has been built around one idea: members come first. Today, the Board of Directors is asking for your vote on a decision that will carry that commitment forward. We have received regulatory approval to propose a merger with Norstar Federal Credit Union, a member-owned credit union in Britton, South Dakota, about an hour from Aberdeen. The final decision to proceed with the merger belongs to our members.
Why we are proposing this merger
Healthcare Plus is financially stable, and we are making this decision from a position of strength. At the same time, as costs keep rising, continuing to offer competitive products and exceptional services becomes more challenging. Norstar shares our belief in local, member-owned service. Together, we gain the scale to keep investing in the service you expect.
What you gain
- New lending options, including student loans, agricultural loans, and business loans
- A second full-service branch in Britton, South Dakota
- Enhanced digital banking and cybersecurity, supported by shared investment
- A well-capitalized combined credit union with an estimated net worth ratio of 11.7%
What stays the same
- Our Aberdeen branch and drive-up ATM at 203 S. Dakota St. remain open
- The Healthcare Plus staff you know. Every employee will be retained
- Surcharge-free ATM access through the CO-OP and Allpoint networks
- Federal deposit insurance through the NCUA up to $250,000
You will find more details in the enclosed Notice of Special Meeting of the Members.
Your Vote Decides
Your Board of Directors and management fully support this merger. We encourage you to vote in favor of the merger.
Attend the meeting to vote in person: December 8th, 2026, at 7:00pm, Composed Studio & Events, 104 S Main Street, Aberdeen, SD.
Vote by ballot: Complete the enclosed ballot and mail it in the enclosed envelope or drop it off at our
Aberdeen branch. Ballots must be received by December 8th, 2026, at 5:00pm.
If members approve, the merger is expected to take effect January 1, 2027.
Questions are welcome. Call us at (605) 725-0900 or email info@hcpfcu.coop. Thank you for your
membership and for your trust in Healthcare Plus.
Sincerely,
Scott Lunzman
Board Chair
Healthcare Plus Federal Credit Union
Appendix J: 6305A Notice of Meeting of Members of the Merging Credit Union
Notice of Meeting of the Members of Healthcare Plus Federal Credit Union
The Board of Directors of Healthcare Plus Federal Credit Union (Healthcare Plus FCU) have called a special meeting of the members of this credit union at Composed Studio & Events, 104 S Main Street, Aberdeen, SD at 7:00 PM on December 8th, 2026.
The purpose of this meeting is:
- To consider and act upon a plan and proposal for merging Healthcare Plus FCU with and into Norstar Federal Credit Union (Norstar FCU) (hereinafter referred to as the "Continuing Credit Union"), whereby al assets and liabilities of Healthcare Plus FCU will be merged with and into the Continuing Credit Union.
All members of Healthcare Plus FCU will become members of the Continuing Credit Union and will be entitled to and will receive shares in the Continuing Credit Union for the shares they own in Healthcare Plus FCU on the effective date of the merger. - To ratify, confirm and approve the action of the Board of Directors in authorizing the officers of Healthcare Plus FCU, subject to the approval of members, to do all things and to execute all agreements, documents, and other papers necessary to carry out the proposed merger.
The Board of Directors of Healthcare Plus FCU encourages you to attend the meeting and vote on the proposed merger. Whether or not you expect to attend the meeting, we urge you to sign, date and promptly return the enclosed ballot to vote on the proposed merger.
If you wish to submit comments about the merger to share with other members, you may submit them to the National Credit Union Administration (NCUA) at
NCUA - Office of Credit Union Resources and Expansion
1775 Duke Street
Alexandria, VA 22314
RE: Member-to-Member Communication for proposed merger of Healthcare Plus FCU with and into Norstar FCU
The NCUA will post comments received from members on its website, along with the member's
name, subject to the limitations and requirements of its regulations.
Other Information Related to the Proposed Merger:
The Board of Directors has carefully evaluated and analyzed the assets and liabilities of the credit unions and the value of shares in both credit unions. The financial statements of both credit unions, as well as the projected combined financial statement of the continuing credit union, follow as separate documents. In addition, the following information applies to the proposed merger.
Reasons for merger: The proposed merger between Norstar FCU and Healthcare Plus FCU will bring together two financially sound, community-focused institutions to provide members with greater convenience, broader product access, and stronger long-term support. Members will gain access to expanded services. Economies of scale will allow the combined credit union to operate efficiently and invest more effectively in technology, security, and member service. With an estimated net worth ratio of 11.7%, the continuing credit union will remain well capitalized and positioned to serve members with greater resources, expertise, and stability for years to come.
Net worth: The net worth of a merging credit union at the time of a merger transfers to the continuing credit union. Healthcare Plus FCU does not have a higher net worth ratio than Norstar FCU.
Share adjustment or distribution: Healthcare Plus FCU will not distribute a portion of its net worth to its members in the merger. Preserving Healthcare Plus FCU's full capital base contributes to the financial strength of the continuing credit union and members will have access to a broader range of products and services.
Locations of merging and continuing credit union: Members will have access to the following full-service branches:
Britton
515 Vander Horck Street
Britton, SD 57430
Aberdeen
203 S. Dakota St.
Aberdeen, SD 57401
Changes to services and member benefits: Member deposits will continue to be insured by the NCUA up to $250,000. Members whose total deposits across both institutions are in excess of the insurance limit will be notified.
Members will have access to an expanded suite of products and services including student loans, agricultural loans, business loans, and enhanced digital banking.
Merger-related financial arrangements: NCUA Regulations require merging credit unions to disclose certain increases in compensation that any of the merging credit union's officials or the five most highly compensated employees have received or will receive in connection with the merger. There are no financial arrangements pertaining to this merger.
Please note that a majority of the members who vote on the proposed merger must approve.
Enclosed with this Notice of Special Meeting is a Ballot for Merger Proposal. If you cannot attend the meeting or vote electronically, please complete the Ballot and return it to:
CUBallot - Election Processing
E Space Communications Inc.
P.O. Box 3156
Dublin, OH 43016-9842
To be counted, your Ballot must be received by 7:00 PM on December 8th, 2026.
BY THE ORDER OF THE BOARD OF DIRECTORS:
Scott Lunzman
Board Chair
9/30/2026