ALBANY, N.Y.—Two New York credit unions have announced a merger following a vote by members of Postal Employees of Troy (N.Y.) Federal Credit Union (PETFCU) approving a combination with CAP COM Federal Credit Union.
The 89-year-old PETFCU, which will close its branch at its current location, had $1.2 million in asset and approximately 136 members.
In a statement, CAP COM FCU said the merger of the two credit unions was “driven by a dynamic regulatory environment that creates significant pressures on small financial institutions like PETFCU. Previous members of PETFCU will now be able to take advantage of the breadth of products and services CAP COM provides. In addition to its array of financial solutions, CAP COM offers multiple branches, a vast network of ATMs, educational resources, online and mobile technologies, and award-winning service tailored to members’ needs.”
“At CAP COM, it’s our goal to provide each member with a wonderful experience,” said David Jurczynski, CAP COM’s EVP/CFO. “We are thrilled to welcome members of PETFCU to CAP COM, so they can enjoy the genuine, excellent service for which we are known.”
The $1.8-billion CAP COM has approximately 133,000 members.