Empower Federal Credit Union to Merge with Providers Federal Credit Union
by STAFF WRITER Published November 3, 2010 Credit Unions Online
Empower Federal Credit Union announced that the National Credit Union Administration has approved a merger of Providers Federal Credit Union, Syracuse, New York, with the Syracuse-based credit union. The merger becomes official on January 1, 2011. As of that date, the branch location on State Fair Blvd., Syracuse, formerly known as Providers Federal Credit Union, will be known as Empower Federal Credit Union.
The merger joins Providers’ over $10 million in assets to Empower’s over $900 million in assets. It brings the total number of Empower Federal Credit Union locations to 19, and increases Empower membership by approximately 2,000 members, bringing the total to over 97,000.
In addition to consumer loans, mortgages, and transaction services, Empower offers business services, a Visa Rewards program, mobile banking, and access to a nationwide ATM network of approximately 40,000 locations. The credit union also has staff that visit credit union member companies with education presentations.
“This relationship will provide more services for Providers’ members and another location for all our members,” states Jim Reynolds, senior vice president of operations. “Best of all for Providers members, it will give them expanded loan offerings.”
According to Reynolds, the merger is a natural fit because both credit unions serve members in the same community.