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Southwest Montana Community Federal Credit Union Welcomes a Merger with High Peaks Federal Credit Union out of Dillon Montana.
May 19, 2025
Anaconda, MT- Southwest Montana Community Federal Credit Union welcomes an approved merger with High Peaks Federal Credit Union June 1, 2025. This decision follows a careful and thoughtful process involving both credit unions, their Boards of Directors and management teams, as well as the National Credit Union Administration.
Headquartered in Anaconda, MT, SWMCFCU currently serves individuals who live, work, and worship in seven southwest Montana counties: Deer Lodge, Silver Bow, Powell, Granite, Beaverhead, Madison, and Jefferson. Headquartered in Dillon, MT, High Peaks FCU’s field of membership falls within the counties served by SWMCFCU’s field of membership.
For the members of High Peaks FCU, there will be no immediate changes to your normal banking processes. All HPFCU branches will remain open and continue to process transactions as usual at this time. Members will still have access to all of their accounts and there will be no delay in their current services.
Teri Krakowka, current President/CEO of SWMCFCU will continue in this role as President/CEO of the combined Southwest Montana Community FCU.
Teri Krakowka shared her perspective on the merger: “This merger makes sense for SWMCFCU and High Peaks FCU as well as our staff and our members. We want to ensure that members continue to receive the same commitment that credit unions are known for: local service, competitive rates, and community engagement. SWMCFCU’s mission and values directly align with the goals and needs of High Peaks FCU’s members along with already serving the same counties as High Peaks. We have had a long-standing relationship with High Peaks over the past ten years and have collaborated with them on several projects. We promise to make this transaction as smooth as possible for all involved.”
Con Malee, Chair of the Board of Directors at SWMCFCU, stated “We are excited for this chapter in our story. With our Field of Membership Expansion in 2021, we have been looking forward to our growth in these new markets. We believe Teri, along with her leadership team, is the leader who will make this merger successful. We look forward to welcoming High Peaks FCU members as well as offering our products and services to any eligible member.”
Shayne Anderson, Chair of the Board of Directors from High Peaks FCU says “Through this merger, members of High Peak FCU will see an expanded network for banking and have access to other banking products that were not previously available to them." Some of these products include secure mobile banking from your devices that includes remote deposit capture (depositing checks through a mobile banking platform), reward checking options as well as expanded share certificate offerings, and access to fee free coop ATMs around the nation.
For SWMCFCU's membership, nothing changes. Business will continue as normal for both their Anaconda and Butte branches.
Below, we have a variety of FAQs that will help answer many common questions both memberships may be wondering.
What impact will the merger have on interest rates?
SWMCFCU is committed to offering competitive rates for both its share and loan products. We routinely review our rates monthly to ensure we are competitive in our markets.
will there be any changes to account features?
Not at this time. We will offer all our suite of products and services to all High Peaks members, but there is no need for change if you are happy with what you have.
Will my existing accounts continue to be insured?
Yes. Funds on deposit at the new combined SWMCFCU will continue to be insured by NCUA up to $250,000. If you have questions or concerns about your deposits, please contact one of our knowledgeable Member Service Representatives.
Can High Peaks or SWMCFCu members use any Branch Location for Transactions Right Now?
We are working to make accommodations for all of our members during the initial merger phase. Please use patience as we maneuver through this phase.
Will My Direct Deposit and Social Security Deposits Continue to work?
Yes. Direct deposits and electronic payments that have been settling to your SWMCFCU or HPFCU accounts will continue as you are accustomed.
Will phone numbers change?
No, you can continue to use the phone number for your local branch.
Will the routing number change?
Not at this time. The routing numbers for each institution will remain the same. Direct deposits and automatic payments will continue without interruption.
will i still have access to the same branches and atms?
Yes. Members of the combined credit union will be served from the locations they are accustomed to utilizing. SWMCFCU members are currently served in branches located at 1035 West Park Ave, Anaconda, MT, in Deer Lodge County, and at 1925 Elizabeth Warren, Butte, MT, in Silver Bow County. SWMCFCU also provides online and mobile access to our members as well as ATMs on location at each branch. Members of High Peaks FCU are currently served in branches located at 222 S. Pacific St, Dillon, MT, in Beaverhead County, at 103 S Main St, Sheridan, MT, in Madison County, and at 9 N Main St, Whitehall, MT in Jefferson County. HPFCU also provides online access to their members.
will the level of service change?
We pride ourselves on providing outstanding service to our members. We value integrity and professionalism with continuous improvement. SWMCFCU delivers professional financial services with a personal, hometown touch. We value our relationships with each of our members, from those opening their first checking accounts to those applying for home loans. As a credit union, our business decisions are grounded in benefiting our membership.
