CAP COM Announces Merger with City of Schenectady Employees Federal Credit Union
The members of the City of Schenectady Employees Federal Credit Union (CSEFCU) approved a merger with CAP COM Federal Credit Union (CAP COM) at a special member meeting previously held. This is CAP COM’s second merger of 2019, following Postal Employees of Troy Federal Credit Union earlier this year.
CSEFCU is located at 105 Jay Street, in City Hall, Schenectady, NY and will reopen at 9 a.m., on December 4, as CAP COM Federal Credit Union. This location will have limited services, however it will include ATM withdrawals, deposits, payments, transfers, check withdrawals & wires, loan guidance and opening new accounts. CSEFCU members will have access to CAP COM’s full portfolio of banking products and services at CAP COM’s additional 11 branches across the Capital Region.
CSEFCU’s members will join CAP COM’s portfolio of 133,000 members and $1.9 billion in assets.
“I believe this is a wonderful opportunity for the CSEFCU members to join CAP COM, and gain access to the services we provide including multiple branch locations, a vast network of ATM’s, educational resources, online and mobile technology and award-winning service tailored to our members’ needs,” said Chris McKenna, CAP COM’s, President and CEO. “Our CAP COM Cares Foundation and the work we do in the community will allow our newest members to see firsthand that we truly care about the families and communities we serve.”
“In order to succeed in today’s economic atmosphere, many credit unions look at mergers as a practical approach,” said Sean Solomon, City Schenectady Employees Federal Credit Union’s, Chairman of the Board of Directors. “This union with CAP COM will uncover opportunities to offer improved products and services to our members. This merger will benefit both CAP COM members and CSEFCU members.”