SEFCU and HEFCU Announce Successful Merger Vote
Health Employees Federal Credit Union (HEFCU) members approved a proposed merger with SEFCU, one of the largest credit unions in upstate New York, at a special meeting last night. Pending regulatory approval, the merger will be effective as of June 1, 2018.
With more than 3,500 members, HEFCU has three branch locations in Albany Med, St. Peter’s Hospital, and Ellis Hospital, all of which will become SEFCU branches post-merger. The three branches will increase SEFCU’s branch network to 50, and represent SEFCU’s continued expansion in the greater Capital Region where more than 70% of its members reside.
“This is a great opportunity for our members to become part of a much-larger credit union that can provide more products, services, and conveniences. One-third of our members are also SEFCU members and the fact that the two credit unions share a commitment to the Capital Region made this a natural fit,” said HEFCU President and CEO David Miller.
“SEFCU is pleased to welcome HEFCU members and employees to the SEFCU family. Led by David Miller, HEFCU has met the needs of its members for four-plus decades. We truly appreciate Dave’s hard work through the years. We look forward to not only supporting our new members but all employees of the three hospitals and the entire medical community as a whole,” said SEFCU President and CEO Michael J. Castellana.
Established in 1934, today SEFCU is among the 50 largest credit unions in the U.S. with more than $3.5 billion in assets, 350,000 members, and 47 branches in the Capital Region, Binghamton, Syracuse, and Buffalo. In addition to full service retail and commercial banking products and services, SEFCU is committed to supporting the community through the donation of time and talent of its staff and members, as well as monetary contributions to help people and make an impact in the communities it serves. Find us on Facebook® and follow us on Twitter®.