The $900 million Empower Federal Credit Union of Syracuse, N.Y., said Tuesday it expects to complete a merger of a competitor, the $10 million Providers FCU, by Jan. 1.
The merger, which has been in the talking stages for some time and has NCUA approval, was being effected "as a mutual benefit" to both CUs and is line with a trend impacting small CUs across New York and elsewhere, Empower said.
Providers "sought a way of offering a broader product and service menu and this is something we can provide," said John Wakefield, president/CEO of Empower.
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