Merger Communications Checklist & Timeline Exclusively for Banks and Credit Unions

This FREE Downloadable Includes:

• 7 essential steps to creating your personalized merger communication strategy.
• Printable checklist for you and your team to get started.
• Pro tips and examples of time-saving steps frequently forgotten as part of the merger process to ensure compliance, build trust, and minimize confusion.

Strengthen your financial institution's merger communication plan by downloading our Merger Communication Checklist and Timeline today!

Introduction

There is no one-size-fits-all merger communications timeline or checklist, but you must consider a few key factors when designing your communication plan.

Necessary Merger Communication Timelines Vary WIDELY

For example, if your merger impacts 150,000 people your timeline might need to be a year-long, but if it’s a small acquisition that impacts a narrow group of new customers/members a 3-4 month timeline would likely be sufficient,
as long as all third party vendors can fit within that timeline.

A Merger of Equals Might Require Significant Additional Considerations

For example, if you are bringing together two large institutions and want to create a cohesive new team and financial brand, you may need a new name, a new website, a new organizational structure, new internal employee training and culture building efforts. All of these possible additions would need to be taken into account when building your communication timeline.

Account Changes or Access Details Have a Huge Impact on Timeline & Communication Content

If you have to reissue account numbers or debit/credit cards, or create new online banking log-in details, this would require third-party timeline considerations and significant additional communications with customers/members
so that they know exactly what is required of them prior to any final merger or conversion dates.

Merger Communication Checklist & Timeline

Table of Contents

• Step #1: Pre-Merger Communication Prep

• Step #2: First Communication Prior to Merger

• Step #3: Second Communication Prior to Merger

• Step #4: Final Communication Prior to Merger

• Step #5: Final Preparations

• Step #6: Merger Date Action Items

• Step #7: Post-Merger Ongoing Communication

Merger Communication Checklist & Timeline

Step #1: Pre-Merger Communication Prep

Step #2: First Communication Prior to Merger

Internal Communication

□  Notify mid and lower-level staff about the decision to merge.
□  Answer the question ‘Is my job safe?’
□  Host departmental meetings to answer questions and align on messaging.

External Communication

□  Inform the recipients that the merger is taking place and there is nothing they need to do at the present time.
□  Include brief FAQ with first messages to customers/members -even if many answers state ‘The merger team is working on this and will choose a solution with the least disruption possible’.
□  Update your on-hold phone queue messaging to announce excitement for the merger and direct customers/
members to specific people or a place on the website if necessary.

PRO TIP: Establish a Feedback Loop for Any Communication Confusion

For example, if your call center is inundated with customer complaints or questions after any of your communication efforts, you need a method for staff to provide this feedback in a timely manner to the correct people in order to address the issue so that clarification and changes can be provided quickly.

Step #3: Second Communication Prior to Merger

Internal Communication

□  Notify employees with a clear overview of the merger and its impacts on staff and customers/members.
□  Provide FAQs and talking points for frontline staff.
□  Launch an internal portal with updates and resources.

External Communication

□  Plan and launch the merger landing page on the website.
□  Continue to update the merger page with new FAQs based on received inquiries.
□  Draft, finalize and distribute the public merger announcement. Issue a press release and post announcements on the website and social media.
□  Notify staff, customers or members within a reasonable amount of time when there are actions they need to take or changes to be aware of. Three months notice may be too long, two weeks notice may be too short, depending on the task that needs to be done.
□  Send detailed communication about:
                □  Changes to accounts, services, or fees.
               □  Any required actions (e.g., updating contact information).
               □  Timeline for system integration and merger transition.
□   Develop member/customer outreach materials (emails, FAQs, letters, branch signage, etc) for key touch points during the merger process.
□   Include contact information for merger-related inquiries.
□   Update your on-hold phone queue messaging with new information.

Step #4: Final Communication Prior to Merger

Member/Customer Outreach

□   Continue to send detailed communication about:
               □   Changes to accounts, services, or fees.
               □   Any required actions (e.g., updating contact information).
               □   Timeline for system integration and merger transition.
□   Share any Grand Re-Opening or name change details with invitees (if necessary).
□   If account numbers or online banking are changing you will need a plan for handling situations where customers/members do NOT follow directions provided on time.
□   Share countdown posts and positive testimonials on social media, as well as posts thanking members/customers for their patience and excitement for the future.

Internal Communication

□   Hold any needed final employee Q&A sessions to address concerns.
□   Continue staff training on new systems and processes.

PRO TIP: Don’t forget about communication and special handling of delinquent accounts, trust accounts, and accounts heading for escheatment.

Step #5: Final Preparations

Member/Customer Outreach

□  Send final reminder about the merger date and key changes.
□  Include support contact details for assistance during the transition.

Internal Communication

□  Confirm readiness of all frontline staff and support teams.
□  Conduct a final leadership meeting to review the plan.

Step #6: Merger Date Action Items

□  Publish a social media post celebrating the merger’s completion.
□  Update the website with a “We’re Official!” message and highlight key benefits of the new entity.
□  Ensure support channels (phone, email, chat) are fully staffed.
□  Issue a press release announcing the completion of the merger.
□  Update your on-hold phone queue messaging with excitement for the completed merger.

Step #7: Post-Merger Ongoing Communication

Welcome Campaign:

□  Send personalized welcome emails or letters to members/customers.
□  Promote new or enhanced products and services.

Feedback Mechanisms:

□  Conduct surveys to gather feedback on the merger process.
□  Address any lingering concerns promptly.
□  Keep FAQs updated and easily accessible on all channels.

Internal Communication:

□  Host post-merger town halls for employees to share feedback.
□  Provide updates on integration progress.

QUESTIONS?

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