SYRACUSE NY – Empower Federal Credit Union said it has been approved by NCUA to absorb by merger FocalPoint FCU, which is also based in Syracuse.
Focalpoint had 6,100 members and more than $46-million in assets, while Empower has $1.38-billion in assets and more than 160,000 members. The merger became official on January 1, 2016.
“This relationship will provide more services for FocalPoint’s members and three additional locations for existing Empower members,” said Jim Reynolds, senior vice president of operations. “Former FocalPoint members will also experience an expanded branch network and more loan options.”
Meanwhile, in Kingston, N.Y., Mid-Hudson Valley FCU is absorbing Poughkeepsie, N.Y.-based Bridgeway FCU via merger. The merger is pending NCUA approval following approval by Bridgeway FCU’s membership on Jan. 11.
The $79-million Bridgeway FCU was founded in 1935 as the N.Y.S. Dept. of Public Work District 8 Employees Credit Union and served state transportation and public works employees.
The $804-million Mid-Hudson Valley was chartered in 1963 to serve workers at a local IBM facility.