CANTON – The membership of the St. Lawrence Federal Credit Union (SLFCU) overwhelmingly rejected a merger with the SeaComm Federal Credit Union in a vote held Monday at the Best Western University Inn.

The tally was 2,428 against the merger and 1,023 in favor.

"St. Lawrence FCU will continue on," stated Todd Mashaw, President/CEO of SLFCU in an email.

“We are disappointed with the final outcome of the membership vote. SeaComm wishes the membership and staff of St. Lawrence all its best. We extend our gratitude to the senior management team of St. Lawrence who worked hand in hand with us to try and make this merger happen. SeaComm will move forward on a separate path and continue to offer the very best value to our membership, staff and the communities in which we serve,” said Scott Wilson, SeaComm President and CEO in a prepared statement. “Also, in the cooperative spirit of the credit union movement, we have and will continue to have a good relationship with St. Lawrence.”

SeaComm Board Chairman Myron Burns concurred.

“Although disappointed with the outcome, SeaComm’s Board of Directors will continue to ensure we move forward strategically, by focusing on our nearly 54,000 members with the same high-touch, exceptional service and diverse product and service offering they have come to know and expect from us,” said Burns.

A statement from SLFCU is expected soon.

In March, SLFCU’s Board of Directors voted to move forward with a merger into SeaComm Federal Credit Union. Leadership of both unions said the move would better position the smaller unions to compete in the future. They said it would ensure jobs as well.

However, a significant resistance to the merger developed among members with many putting signs in their yard or wearing T-shirts bearing messages of opposition.

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 $808 million in assets, 53,850 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 would have closed with the merger and no job cuts were proposed.