ICU Has Merged With Webster First Federal Credit Union

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Welcome ICU Members!

As of May 31, 2015, Industrial Credit Union has merged with Webster First Federal Credit Union, and has become ICU "A Division of Webster First Federal Credit Union."

We hope you find the information presented here useful, and we look forward to serving you in the future. Should you have any questions, please feel free to contact us. Our contact information is:

     ICU, a Division of Webster First Federal Credit Union
     One Liberty Square
     Boston, MA 02109-4825
     617.742.1616, 8:00am - 3:30pm Monday - Friday



Helpful Documents

We've compiled all merger related documents and letters here for your convenience. Click on each link to view and download a copy. Please note that some letters are product-specific, and may not apply to you if you do not currently have that product or service with ICU.


Conversion Guide - This comprehensive guide, mailed to all current ICU members, provides a timeline of events for the conversion and includes helpful information regarding your accounts. You'll also find information about the products and services offered by Webster First and a branch directory. 




Account Number Change Letter- This letter, mailed to all current ICU members, details what will happen to account numbers as a result of the conversion.




IRA Letter - This letter, mailed to current ICU members with IRA Accounts, offers information regarding how IRAs will be affected by the conversion.



ICU Online Banking Letter


Online Banking Letter - This letter, mailed to current ICU members with active Online Banking accounts, offers important information regarding how Online Banking will be affected by the conversion.



New Accounts and Loans

Looking to open a new account or apply for a loan? Webster First can help! Click the links below to apply online, or call us at 800.962.4452 to get started. 

Open a New Account >

Apply for a Personal or Vehicle Loan >

Apply for a Mortgage or Home Equity Loan >



Frequently Asked Questions

Below is a list of frequently asked questions which provide additional information and context to the current conversion process.

On May 31, 2015, Industrial Credit Union officially became part of Webster First Federal Credit Union as per the Massachusetts Commissioner of Banks and National Credit Union Administration (NCUA). The office at One Liberty Square in Boston, MA is now known as ICU “A Division of Webster First Federal Credit Union."

While May 31, 2015 marks the official merger date of ICU and Webster First, it is important to note that the core processing systems will need to be integrated together. The core processing systems are the hardware and software responsible for member account management. The process of integrating these two systems is known as a conversion. Webster First anticipates the conversion will be successfully completed on August 3, 2015.

ICU members with an account on file prior to May 31, 2015 will retain all pre-merger account Terms & Conditions, rates, dividends, and fees until May 31, 2017.

For a detailed description of all Webster First accounts and services, please view our Conversion Guide.

On August 1, 2015, Industrial Credit Union and Webster First Federal Credit Union’s core processing systems will integrate into one system. As of August 3, 2015 ICU members can conduct transactions at any of our 15 full-service branches or through the CO-OP Shared Branch / ATM Network.

ICU account numbers will change as detailed in the Conversion Guide.

All Webster First offices will be closed on Saturday August 1, 2015 to complete the conversion process. Offices will open for business at regular, posted hours on Monday August 3, 2015.

All members will be issued a new member number. ICU accounts will no longer have individual account numbers for each share. Each share will have a share suffix. Your existing account numbers will now serve as a MICR number specific to that type of account and can continue to be used for any type of electronic deposits or electronic withdrawals.

For any Electronic Payments or Direct Deposits you will only need to change your Routing & Transit number with your deposit provider. Your new Routing &Transit number is 211386597.

A statement for ICU account numbers will be sent on July 31, 2015. A statement with the new Webster First member numbers will be processed on September 1, 2015.

The Conversion Guide contains detailed information on the account number change process. If you would like to speak to a Webster First member service representative for assistance with this change, please call us at 800.962.4452.

ICU savings accounts opened prior to May 31, 2015 will retain the same rates and Terms & Conditions until May 31, 2017.

As of August 3, 2015 all passbook accounts will be converted to statement accounts. If you visit the ICU branch prior to conversion, please bring in your passbooks and ask a staff member to update your books.

ICU checking accounts opened prior to May 31, 2015 will retain rates and Terms & Conditions until May 31, 2017.

Prior to the conversion date, ICU members will receive a new order of checks with new Webster First Routing and Transit numbers. ICU members must start using their new checks as of August 1, 2015.

Old ICU checks should be destroyed by July 31, 2015 to avoid using the wrong checks in error.

If you currently have payroll direct deposit or federal recurring payments such as Social Security going into your account at Industrial Credit Union, you must inform your deposit provider of your new routing number for your checking or savings account beginning on August 1, 2015. Webster First’s transit routing number is 211386597.

Automatic payments debited from your account to a third party must also be notified.

Yes, we will mail new debit cards to all existing ICU debit card holders prior to the conversion date of August 1, 2015. Debit card users will also receive new PIN numbers in the mail as well. All of which will be at no additional cost.

As of 11:59pm on August 2, 2015 all existing Industrial Credit Union cards will become inactive.

A $0.65 fee will be charged for inquiries at all machines not part of the SUM network. You may still use your debit card at all local branches and SUM locations without charges from Webster First.

Please note that other financial institutions may include a surcharge for using their ATMs.

ICU Certificates of Deposit and IRA accounts opened prior to May 31, 2015 will retain rates and Terms & Conditions until May 31, 2017.

The look of your statement will change but all transaction history will remain the same. Statements will continue on a monthly basis for active members and quarterly for inactive members.

If you currently receive electronic statements from Industrial Credit Union, you will need to sign up again. Your previous statements will not be saved. Since prior statements will no longer be available for viewing online, you may wish to download or print them for reference.

We will be transferring your Online Banking and Bill Pay access to the Webster First Federal Credit Union Online Banking and Bill Pay system. This transfer will take place during the weekend of the conversion, beginning on Thursday, July 30, 2015 and ending on Monday, August 3, 2015.

Bill Pay will become unavailable Thursday, July 30, 2015 at 5pm Eastern Time. Online Banking will become unavailable Friday, July 31, 2015 at 5pm Eastern Time.

Online Banking and Bill Pay will become available on Monday, August 3, 2015 at 8am Eastern Time through Webster First's system. Access will be provided online at, via the "Login" link in our main menu navigation. You will use your current User ID and Password. Upon your first login, you will be prompted to complete Multi-Factor Authentication by receiving a one-time passcode. You can accept it by phone or email.

Payments scheduled on or before July 30, 2015 will be paid on the ICU Bill Payment system. Payments scheduled for July 31, 2015 will be paid on Webster First's Bill Payment system. On August 3, 2015, you will not have to enroll and set up your payments on Webster First's Bill Payment system. All of the payments you currently have set up will carry over. Your online transaction history, however, will not carry over.

If you are currently receiving Electronic Statements (eStatements), you will need to sign up again after the conversion. Your previous electronic statements will not be saved. To ensure you have access to them, we suggest you download all your previous statements and save them in a file or on a disk. To sign up for eStatements, login to Online Banking and click the "eStatements" link in the main navigation.

As of July 31, 2015, the ICU mobile app will no longer be available. To continue using mobile banking, delete the ICU Mobile App from your device and install the Webster First App. The Webster First App offers a variety of helpful features including remote check deposit. For more information about the Webster First App and for links to download, click here.

Please note that after the conversion, you will need to sign in to Online Banking from a computer first before being able to access your accounts via the App. You will be able to login to Online Banking using Webster First's system beginning at 8am on August 3, 2015.

ICU accounts opened prior to May 31, 2015 will fall under ICU Terms & Conditions until May 31, 2017. As of June 1, 2017 existing ICU savings accounts will be subject to Webster First rates and Terms & Conditions.

For the most part, ICU members will enjoy lower fees. The Webster First fee schedule is available online.


About Webster First

The first credit union in the United States was formed in 1908 as a place where workers could keep their hard-earned cash and borrow money at a reasonable interest rate. Webster First Federal Credit Union, founded in 1928 as a “thrift institution,” embraces those same principles. With more than 25 years of credit union experience, President and CEO Michael N. Lussier has led Webster First with the assistance of our experienced senior management team. “Webster First’s integrity, core values, community business presence, and branch network will help us to continue to serve our members and expand in multiple areas,” says Lussier. “Good facilities, good people, and technology will help us continue that tradition.

As one of the most well capitalized credit unions in the country, Webster First has been able to successfully merge with several institutions in recent years. These acquisitions secured Webster First’s position within the top two percent of credit unions in the country. Industrial Credit Union’s members can rest assured that the transition to becoming Webster First members will be smooth and seamless. Both organizations share the same principles, great leadership, a desire to give back to the surrounding communities, and a vision for future excellence. Webster First is eager to begin this new chapter of its history and hopes all ICU members are ready to join us in the commitment to excellence.



Our Products & Services

Our wide variety of products and services are designed to help make managing your finances easier than ever. Browse our products and services using the helpful links below, or call us at 800.962.4452 to learn more about what we can do for you.



Important Information

Below you'll find links to important information regarding Webster First. For assistance or additional information, please call us at 800.962.4452.



Helpful Links