LATHAM, N.Y.–Credit unions in New York and Ohio have announced separate merger deals.
In New York, Sunmark Federal Credit Union said it has officially merged in the former Delmar Owens Corning Fiberglass (Delmar OCF) FCU. With just $686,000 in assets, Delmar OCF FCU was founded in 1976 to serve the employees of the Delmar Owens Corning company location. The credit union had 127 members.
The $652-million Sunmark said the merger will expand the products and services available to DOCFCU’s members. DOCFCU’s branch will remain open, although it is accessible only to employees of Owens Corning.
“This merger is another milestone for Sunmark,” said Sunmark Federal Credit Union CEO Frank DeGraw. “We are not only able to add to our growth, but more importantly, offer more financial services that resonate with the hard-working Delmar OCF employees looking to master their money and reach their aspirations.”
Sunmark was chartered in 1937 as Schenectady G.E. Turbine Department FCU and has approximately 57,200 members.
Merger in Ohio
Separately, in Columbus Ohio, the $265-million Pathways Financial Credit Union said it is absorbing via a merger the $18-million American Chemical Society Federal Credit Union. The combined credit union will serve approximately 29,000 members.
The Ohio Department of Financial Institutions and NCUA have signed off on the combination.
The credit unions said ACSFCU’s two branches will join Pathways Financial CU’s six other branches. There will be no layoffs as a result.
“This is an exciting opportunity for Pathways and we welcome the ACSFCU member family with open arms,” said Greg Kidwell, president of Pathways Financial Credit Union. “We look forward to providing our newest members with access to Pathways’ wide range of products and services.”