While most CAP COM branches are providing full services, resources may be limited or unavailable at times due to the impact of COVID-19. Before heading to your favorite branch, please check the status of services via the location search or make an appointment. For assistance, call (800) 634-2340. Masks are required at CAP COM.   

Beginning 12/31, users will no longer be able to use Internet Explorer to open a CAP COM account, apply for a loan, or check a loan status. For a full list of browsers supported by CAP COM and its platforms, please see our list of supported browsers.

FAQs: Intent to Merge

The CAP COM and SEFCU Boards have approved the exploration of unifying the two organizations. The due diligence phase is in progress by both credit unions and is expected to continue for several months.

We will evaluate the affiliation based on three criteria: value to members and their communities; dedication to employees and their careers; and vitality in a marketplace that is expected to see significant change and consolidation of credit unions.

We recognize that this announcement will generate questions from members and community partners. Below you will find FAQs and as we continue adding to this, you can see the most recent entries toward the bottom. You can also log a question to help us address common themes in the FAQs. 

If you’re a nonprofit community partner of the CAP COM Cares Foundation, you can jump to the FAQs prepared for you


Is SEFCU acquiring CAP COM?
CAP COM and SEFCU have agreed upon an intent to merge in order to form an entirely new credit union, bringing together the best of both worlds in order to benefit members, employees, and the communities we serve.

Why are you doing this?
Combining resources to unite as a new credit union increases opportunities for members and others we serve to gain – in the coming years and for generations ahead. Together, CAP COM and SEFCU will be the largest financial institution in the Capital Region, giving you expanded access to branches, improved member services, and future innovation. You will have more locations to enjoy the great credit union service that you have come to know. It will also give us the opportunity to participate in larger philanthropic efforts in the communities where we live, work, and serve. 

What is your commitment to me as a member?
We commit to individualized service for your personal and business finances. We look forward to continuing to serve you and your family as a member of our new credit union family. We are committed to continuing to create a customized financial experience for your unique needs.

When is this happening?
We are in the preliminary stages of this process. With a potential merger of this size, we have a long road ahead to ensure a smooth transition and the enhanced experience you deserve. We are hoping to complete our due diligence and announce a proceeding to merger sometime in 2022.  We will continue to provide additional communication as we progress.

How does the member vote work?
Following the due diligence and regulatory approval phases, members can expect to receive notice of a special meeting of the membership. At the meeting, members will vote on the proposed merger. Notice of the special meeting will be provided at least 45 days in advance. The notice will contain details about how the vote will operate and a link to an online portal where members can post public comments. The portal is available for 30 days for anyone who wants to review the comments.

When will the member vote occur?
Phases in the process will occur over several months, well into 2022. Each step depends on the successful completion of the one prior. First, a comprehensive due diligence analysis will be completed by both credit unions. This would be followed by the submission of a merger application to financial regulators. If the application is approved, the member vote would be scheduled.

Are my accounts going to be affected?
It is business as usual for members at this time. There will be no immediate impact to your accounts. Looking ahead, our intention throughout this process is to ensure the same accessibility to your accounts that you enjoy today. Any impact or required changes will be communicated to membership throughout this process, including account-related enhancements and changes.  

Will my member number change?
At this time, your member number will remain the same. Throughout this process, in the event that your member or account numbers have to change, you will be notified well in advance, and we will assist you every step of the way.

Can I start making deposits at SEFCU branches?
You may already be aware that CAP COM participates in the CO-OP Shared Branch Network. SEFCU is in the process of joining that network, opening up every SEFCU location for CAP COM members to enjoy added convenience. We will announce formally to members once SEFCU has joined the network. 

Will there be any branch closures?
Pending the decision to proceed to merge and form a new entity, branch footprint and location proximity will be reviewed and aligned to best support the needs of members and communities. We will also continue to evaluate the need for branch expansion.

Are the employees at either institution losing their jobs?
There will be no layoffs as a result of this merger. In fact, a potential merger of this size creates a tremendous amount of opportunity for existing employees to expand their career options in the future.

Would NCUA share insurance apply if I have accounts at both CAP COM and SEFCU?Share insurance coverage can extend beyond the standard $250,000 if your accounts are set up properly. No action is needed right away because you would have six months to organize your accounts after the merger. Our team can review your options and help you get ample coverage for your accounts during that period.

Why do CAP COM members get to vote on the merger and SEFCU members don’t? 
The fields of membership of CAP COM and SEFCU would unite under one newly established brand for the combined organization with a new name. In order for the new credit union to operate statewide, CAP COM’s field of membership would be integrated into SEFCU’s. Therefore, based on industry regulations, only CAP COM members would have the opportunity to vote on the proposed merger. 

When can I expect to receive more information?
Visit our website and follow our social media channels for the most up-to-date information. Be sure your email address on file is up to date to ensure you receive future communications. To confirm that the email address we have on file is accurate, please log in to your online banking account and update it in your settings.

Community Partner FAQs

Community Partner FAQs

What is your commitment to us as a community partner?
We commit to continuing to support our community partners with the same passion and commitment to corporate philanthropy that you have seen from SEFCU and CAP COM in the past.

Will you be continuing philanthropy at the new organization?
We look forward to the potential opportunity to serve our community in a larger way with the strength of a combined organization.