LATHAM, N.Y.–Two New York credit unions have merged. The $661-million Sunmark FCU said it has merged in the $21-million Price Chopper Employees FCU in Schenectady.
Price Chopper EFCU was founded in 1981 by Golub Corporation.
“As a small credit union, Price Chopper EFCU had discovered it was increasingly difficult to stay in compliance with the ever-increasing regulations,” said Price Chopper EFCU CEO Dawn Donovan. “In addition, due to cost, we are unable to offer our members the technology and services that members deserve. Our merger with Sunmark allows our members to have the products, services, personal service and technology they desire and deserve.
Members of Price Chopper EFCU OK’d the merger in a vote.”
‘Very Excited’
“I am very excited to welcome the Price Chopper EFCU members and employees to Sunmark,” said Sunmark Federal Credit Union CEO Frank DeGraw. “This merger empowers all hard-working Price Chopper employees to master their money and reach their financial aspirations with added convenience, more financial services and leading-edge technology.”
Current Price Chopper staff will become Sunmark employees and both branch locations will remain open, the credit union said.
Sunmark has approximately 57,000 members, while Price Chopper EFCU had approximately 2,800.