SEFCU, CAP COM announce plans to merge | The Daily Gazette
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July 29, 2021
This September 2020 photo shows a SEFCU credit union on Clinton Avenue in the Arbor Hill neighborhood of Albany. (Photo provided by Tyler A. McNeil/WikiMedia Commons)
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ALBANY Two large Capital Region credit unions have decided to merge.
SEFCU and CAP COM announced their plan Thursday, about six months after beginning discussions. Following due diligence by the two partners, if state and federal regulatory approval is granted and members vote in favor, the merger would likely be completed in 2022.
The organizations said no layoffs will result from the merger. They also said the location of the more than 60 branches operated by the two credit unions would be reviewed, suggesting that some existing branches could be closed or relocated and some new branches could be added.
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