MASSENA, N.Y.—The $540-million SeaComm FCU has been approved for a charter expansion.
The charter change, granted by NCUA, adds a new field of membership to the credit union that encompass all of Franklin, St. Lawrence, Clinton and Essex Counties of New York, as well as Grand Isle, Chittenden and Franklin Counties of Vermont.
"SeaComm continues to evaluate the markets in and around the areas in which we currently have retail branches,” said President and Chief Executive Officer Scott Wilson. “We are extremely pleased to expand into four new counties. Our board of directors is continually evaluating market conditions, as well as long-term opportunities afforded to the credit union in order to meet our strategic goals. Recently, we expanded into Plattsburgh, N.Y., which provided us insight into a vibrant, growing regional economy just across Lake Champlain and south of us into beautiful Essex County.”
This marks the second charter change for SeaComm in the last three years, with the new counties being the most expansive revision, reaching into Vermont, the CU said.
“We have not yet determined where we will be building; however, we will be able to provide our extensive deposit and loan product offerings and electronic services, including e-account opening and mobile branch to those living in our new neighboring field of membership,” said Wilson. “We will remain focused on providing the highest level of quality service to our current membership, while ensuring we remain financially viable by continuing to diversify our expanded footprint.”
“We are confident in the new markets of Essex County and the three counties of Vermont we will be serving—while at the same time ensuring it makes absolute sense for the credit union and that our service to our current members will remain at the highest levels,” said Board Chairman Myron Burns.