OGDENSBURG, N.Y.–Two New York credit union have announced their intention to merge in a combination that would form a near billion-dollar credit union.
The $226-million St. Lawrence FCU is seeking to mere into the $770-million Sea Comm FCU in Massena, N.Y. The combined CU would have more than 65,000 members.
St. Lawrence FCU has six branches and 52 employees, none of whom will lost their jobs as the result of the merger.
SeaComm has nine retail branches and serves St. Lawrence, Franklin, Essex, Clinton, Jefferson, and Lewis counties in New York and Grand Isle, Franklin, and Chittenden counties in Vermont.
According to the CUs, St. Lawrence FCU President and CEO Todd Mashaw will retire as CEO and will be retained as a consultant for a year after the merger.
SeaComm President and CEO Scott Wilson will lead the merged credit unions.
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