ALBANY, N.Y. — Skidmore Employees Federal Credit Union will merge with State Employees Federal Credit Union pending NCUA and member approval.

Skidmore Employees' Board said it had been looking to ensure continued top service to its membership and selected SEFCU for its philosophy and ability to expand services to Skidmore Employees' members and ensure a presence on Skidmore's Campus. Skidmore Employees was established in 1974 and has more than $5.7 million in assets and over 1,000 members, mainly from the college.

"Small credit unions are at a competitive disadvantage with costly mandates and technology expenses, therefore the board felt a merger was in the best interest of our members, and we know we have chosen a partner whose philosophy, approach to business, and commitment to service most closely matches ours," Skidmore Employees President Barbara Opitz said.