BINGHAMPTON, N.Y.–Two more New York credit unions have announced plans to combine.
Members of Horizons FCU have voted in favor of merging into Empower Credit Union.
Horizons President and CEO Mario DiFulvio said in a statement approximately 75% of the members who voted supported the move. According to DiFulvio, plans call for the merger to take place Oct. 4, with Horizons maintaining its identity with signage that will reflect that it is "a division of Empower Federal Credit Union."
The $141.4 million Horizons FCU has approximately 12,858 members. The $2.6-billion Empower FCU, which is headquartered in Syracuse, has approximately 216,500 members.
DiFulvio said none of Horizons’ approximately 30 employees will lose their jobs as a result of the merger. Horizons was originally known as U.S. Employees FCU before changing its name in 1999.
As CUToday.info reported here last week, also in New York the $2.55-billion Capital Communications FCU, better known as CAP COM FCU, and the $5.34 billion State Employees FCU (SEFCU) said they are seeking to combine.
Seeking Unity in Michigan
Meanwhile, two Michigan credit unions have also announced they have merged.
The $280-million, Birmingham-based Michigan United Credit Union said it has merged in the $59-million Credit Union in Warren, Mich.
The combined credit union will have approximately 25,000 members.
“We are excited for the direction the credit union is heading. This expansion is providing additional resources to not only serve members in more vibrant communities, but across the State of Michigan as well,” said Andrew Staley, president and CEO of Michigan United Credit Union, in a statement.
The credit unions said all Unity Credit Union branches will remain, and all employees will keep their current jobs.