MASSENA — The United Neighbors Federal Credit Union, Watertown, and SeaComm Federal Credit Union, Massena, are merging.
The Watertown federal credit union’s Board of Directors voted to move forward with the merger with SeaComm Federal Credit Union at a special meeting held on Tuesday.
The United Neighbors Federal Credit Union has $4.5 million in assets and one location in the Carbone Plaza, 605 Coffeen St., in Watertown. It serves all of Jefferson County.
SeaComm, with $720 million in assets and 50,000 members, has eight retail branch locations that serve St. Lawrence, Franklin, Essex and Clinton counties in New York and Grand Isle, Franklin and Chittenden counties in Vermont.
In November, the National Credit Union Administration, Washington, D.C., officially approved the expansion of SeaComm’s field of membership to also include Jefferson and Lewis counties.
Through this merger, the members of United Neighbors Federal Credit Union will have access to a vast array of new credit union products and services, including access to on-site ATMs, real-time instant issue debit, credit cards, mortgages, personal advisor services and member business loans. These new and innovative services will be available to members immediately, giving them financial opportunities that are both convenient and accessible, according to a press release.
The effective date of the merger will be April 12.
Officials from both credit unions said its members will benefit from the merger.