WATERTOWN, N.Y.–Two credit unions in the Empire State have announced plans to merge.
The $443-million Northern Credit Union, which primarily operates in the northern part of the state, said it is seeking to merge with the $167-million Countryside FCU in East Syracuse, which operates in central New York.
Northern CU reported $865,965 in net income at the end of Q1, with net worth of 8.03%. Countryside FCU reported $705,917 in net income as of the same date, with net worth of 17.41%.
The merger is pending a vote by members of Countryside FCU. If members approve, the planned merger date is Sept. 1. The combined credit union would have 10 locations.
Northern Credit Union serves anyone who lives, works, worships or regularly conducts business in Jefferson, Lewis, St. Lawrence, Oswego, Clinton, Franklin, Onondaga, and Madison counties. Countryside does the same for people in Onondaga County.