Pinnacle FCU Merger to Garden Savings FCU

We’re pleased to announce that following the Special Meeting of Members on
December 4, 2024, the merger between Pinnacle FCU and Garden Savings FCU has been approved. The financial merger is effective on January 1, 2025.
The systems conversion is tentatively scheduled for May 2025.

We’re excited to join the Garden Savings FCU family!

Stay up-to-date with the latest merger and conversion details here.

Frequently Asked Questions

Why are Pinnacle FCU and Garden Savings FCU Merging?
With the financial strength of Pinnacle FCU, we searched for a strategic partnership that would not only help us scale up but also have the same history of people helping people. With the combined efforts of both credit unions, we can provide additional branches, extend products and services, and more robust offerings. 


What does the merger mean to members?
The merger between Pinnacle FCU and Garden Savings FCU will provide additional opportunities to achieve more positive member impact and value. 

• Expanded Member Access: After the system conversion, Pinnacle FCU members can access their accounts at any of Garden Savings' four (4) locations and ATMs, and the two Pinnacle FCU branches will remain open. 
• Same Knowledgeable and Friendly Staff: Pinnacle FCU team members will become part of the Garden Savings team and enjoy enhanced employee benefits. 
• Enhanced Product and Services: This merger enables the credit union to offer even more competitive deposit and loan rates. 
• More Responsive to Growing Financial Needs: By merging, we're ensuring that we can continue to meet the financial needs of our members in a highly competitive financial service industry.

When will the merger take place?
If approved, the financial merger will become effective January 1, 2025. The system conversion will also take place in mid-2025. Members will receive more information well in advance of the conversion.
 
Can I use Garden Savings branches now?
Yes. Through our CO-OP Shared Branching network, Pinnacle FCU members can access their accounts at any of the Garden Savings FCU branches. 
 
Can I continue to use Pinnacle’s ATMs?
Yes. PFCU ATMs will still be accessible 24/7 for withdrawals, cash or check deposits, and account transfers. Garden Savings members will also be able to access our ATMs free of charge! 
 
Will any branches be closed?
No branches will be closing. In fact, starting January 13, PFCU will expand its branch hours. Pinnacle FCU’s Sayreville and Brick branches will join Garden Savings' four locations.
 
How will my accounts be impacted?
You will not have to do anything for now, and your accounts will remain with Pinnacle. Your account numbers may change as a result of the system conversion. More information will be provided closer to the system conversion and before any changes.
 
Will my direct deposit and payroll deductions stay the same?
Yes. It will remain the same if you have a direct deposit to your account for your paycheck, pension, social security, etc. This is also true for any payroll deduction. We will communicate any changes with you before the system conversion.
 
 
Will my rates change?
The rates on fixed-rate loans and certificates will remain the same until the end of their existing terms. Other products will adjust as expected due to market conditions.
 
Will I need to get new checks and/or debit cards?
You may continue to use your current checks and debit cards without interruptions. We will communicate any changes with you prior to the system conversion.
 
Will my accounts continue to be federally insured?
Yes, your savings will continue to be federally insured by the National Credit Union Administration, a U.S. Government Agency, up to at least $250,000. Garden Savings FCU also provides members with additional deposit insurance. Members’ accounts will be insured for up to an additional $250,000 with coverage by Excess Share Insurance Corporation (ESI), a licensed insurance company, for a combined coverage of up to $500,000.
 
Will the Pinnacle name be changed to Garden Savings FCU?
The financial merger between Pinnacle and Garden Savings is effective January 1, 2025. However, you won’t see Pinnacle’s name officially change to Garden Savings FCU on things like signage, member’s checks, debit cards, etc., until the system conversion is complete sometime in 2025. We will communicate this to members, including details on how this impacts your accounts, closer to that date.

Have Questions?