OGDENSBURG — Members of the St. Lawrence Credit Union are invited to a town hall meeting Monday June 26 at 6 p.m. at the 800 Park Drive Branch in Ogdensburg and at 10 a.m. June 27 at the 33 Court …
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OGDENSBURG — Members of the St. Lawrence Credit Union are invited to a town hall meeting Monday June 26 at 6 p.m. at the 800 Park Drive Branch in Ogdensburg and at 10 a.m. June 27 at the 33 Court Street Branch in Canton.
The meetings will provide an opportunity for discussion regarding the potential merger between SeaComm and St. Lawrence Federal credit unions.
In a March, St. Lawrence Federal Credit Union’s Board of Directors announced that they voted to move forward with a merger into SeaComm Federal Credit Union.
St. Lawrence Federal Credit Union has $226 million in assets, 12,289 members, 52 employees and six retail branch locations throughout St. Lawrence County, including two most recently opened in Heuvelton and Hermon. SeaComm, with $770 million in assets, 52,977 members and nine retail branch locations, serves St. Lawrence, Franklin, Essex, Clinton, Jefferson and Lewis Counties, in NY and Grand Isle, Franklin and Chittenden Counties in Vermont.
No St. Lawrence Credit Union branches will close, or will any staff lose their jobs due to the merger, Seacomm officials said.
Under the terms of the agreement, which was approved by the boards of directors of both credit unions, one St. Lawrence Board Director will join the SeaComm Board. There will also be an advisory committee formed from the current St. Lawrence Board providing advice and counsel on the overall effect of the merger. The combined organization will operate under the SeaComm brand.
SeaComm’s 30 Stearns Street location in Massena, will be the overall headquarters with St. Lawrence’s, 800 Commerce Park Drive in Ogdensburg as a major operations center. SeaComm has an additional operations center located on Smithfield Blvd in Plattsburgh, to support its eastern Vermont operations.
The merger plan has garnered support and criticism from members in recent months.