OGDENSBURG — Chief executive officers for both St. Lawrence Federal Credit Union (SLFCU) and SeaComm Federal Credit Union will be holding question and answer sessions for members as a potential merger between the two is in the works.
SLFCU President and CEO Todd R. Mashaw and SeaComm CEO Scott A. Wilson have set up sessions at SLFCU branches across the county. Members will be able to ask questions about the potential merger.
“We will be holding ‘Town Hall’ style meetings in all of our branches,” Mr. Mashaw wrote in a letter to credit union members, “whereby you can speak with me and CEO Scott Wilson about this merger.”
The first session will take place from 10 a.m. to noon Thursday, March 16, at the 333 State St. branch followed by a session from 1 to 3 p.m. at 800 Commerce Park Drive, both in Ogdensburg.
The CEOs will be at the Canton branch at 33 Court St. from 10 a.m. to noon Tuesday, March 21, and then at the Potsdam branch at 6585 Route 56 from 1 to 3 p.m.
The last of the sessions will take place from 9 to 10 a.m. Thursday, March 23, at the Hermon branch and in Heuvelton at 83 State St. from 11 a.m. to noon.
The merger will still require regulatory approval and a member vote, which is expected to take place sometime this summer.
With $226 million in assets and 12,289 members, SLFCU has six total branches in St. Lawrence County while SeaComm Federal Credit Union has $770 million assets and 52,977 members with nine branch locations in St. Lawrence, Franklin, Essex, Clinton, Jefferson and Lewis counties in New York and Grand Isle, Franklin and Chittenden counties in Vermont.
No SLFCU branch will close and none of the 52 employees will lose their jobs due to the potential merger, officials have said.
“No branches will close, and no staff will lose their jobs due to the merger. Everyone will remain in place and will be working with you so that your financial needs continue to be met in the same friendly manner you have been accustomed to,” Mr. Mashaw wrote to members.
Mr. Mashaw stressed in the letter that SLFCU members will benefit from the potential merger.
“Additionally, you will have access to a larger branch network and additional service and product offerings, such as SeaComm’s personal financial adviser services and their loyalty rewards,” Mr. Mashaw wrote.
“Your time as a member will transfer giving you access to SeaComm’s robust loyalty rewards program,” he added.
St. Lawrence Federal Credit Union’s location at 800 Commerce Park Drive, Ogdensburg.
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