COLONIE, N.Y. – Capital Communications FCU, with $540 million, announced Friday it has agreed to acquire $80 million Excelsior CU. Excelsior is one of the oldest credit unions in the country and was founded in 1915 as the Borough of Brooklyn CU, but financial struggle sin the 1970's prompted it to move to the state capital, to Albany, in 1978. The Capital Communications name and brand will be retained after the merger is complete because it is larger and the better known of the two.
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