The members of Fairport Federal Credit Union have approved the merger with Finger Lakes Federal Credit Union at a special meeting held on November 8th, 2019.
The forty-seven-year-old credit union, located at 70 South Main Street in Fairport, NY, will continue operations at that location under its same name, but as a division of Finger Lakes Federal Credit Union.
On a consolidated basis the merger between Finger Lakes and Fairport Credit Unions will serve 20,000 members, employ 50 employees, will hold over $170 million in total assets, at four branch locations. The credit union also has a newly approved and expanded charter to serve any who live, work, worship, volunteer, or are students in Monroe, Ontario, Seneca & Yates counties.
President & CEO, Bob McFadden, a 24-year veteran of the financial services industry and second-generation credit union leader stated, “This is an exciting partnership between our credit unions, especially when you consider the dynamic synergies it creates. Finger Lakes will invest in technological upgrades so Fairport can deliver a significant and meaningful expansion of products and services such as mortgages, credit cards, individual retirement accounts, mobile deposits, person to person payments (P2P), and much more. We are also committed to delivering exceptional service, highly competitive interest rates, and products with low or no fees. With the overall growth we anticipate and the strength we will share, the potential of what we can achieve together is more than the sum of the parts.”
The Credit Unions will officially merge and combine financial statements in November. However, they will maintain two separate computer systems for a few months as they prepare for the integration of core operating systems. Full integration of accounts, products and services is expected to take place in May of 2020.
For more information contact: Bob McFadden at (315) 719-4348