CAP COM FCU wraps third merger in just over one year
Capital Communications Federal Credit Union in Albany, N.Y., which does business as CAP COM FCU, has completed its third merger since September 2019.
Niagara Mohawk Power Corp. Troy Employees Federal Credit Union in Troy, N.Y., has merged into the $2.2 billion-asset CAP COM. The deal was approved by the members of the $3.6 million-asset Niagara Power Corp. in a recent virtual meeting.
The former Niagara Power members now have access to CAP COM’s financial products, digital banking services and 11 branches across New York's capital region.
“This is a great opportunity for the NIMO FCU members to join the CAP COM family of companies for instant access to all the great services we provide,” Chris McKenna, CAP COM’s president and CEO, said in a press release on Monday. “Our ‘Bank Where You Matter Most’ service philosophy enables us to be present and alert to the needs of each member. New members can look forward to experiencing firsthand how much we truly care about them, their families, and the communities we serve.”
CAP COM has more than 140,000 members. It earned about $22.3 million through Sept. 30, almost double its income from the same period a year before, according to call report data from the National Credit Union Administration.