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CAP COM and SEFCU are Merging

Two leading credit unions based in New York's Capital Region will unite.

It’s official! The merger of CAP COM and SEFCU was approved by CAP COM members on June 22, 2022, after a six-week voting period. By joining forces, we will continue doing what we do best, and provide more value for members in the future. To every CAP COM member who voted, thank you.

You can keep banking as usual with seamless access to your accounts. Uniting the two credit unions will be a gradual process over many months. Continue using your debit and credit cards, making deposits, submitting loan payments, and writing checks. And, keep banking online or at your favorite branch.

Starting August 1, members can perform basic transactions at either credit union.

  • Make deposits, loan payments, account inquiries

  • Withdraw money, take loan advances, transfer funds between credit union accounts

  • Get copies of account statements

As a member-owned financial cooperative, we bring people together for each other. Supporting your financial well-being with affordable services is why we’re here – and the best is yet to come.

Questions & Answers

Over the course of several months, CAP COM and SEFCU will merge operations to become one credit union. Visit this page often for answers to your questions as we continue updating this resource for members.

Do you have a question not answered here? If you’re a member and want to be contacted with an answer, please submit your question. 


Credit unions are built on the concept of bringing people together for each other – and this difference is our strength. More members and deposits enable us to provide more loans at great rates. Interest generated by those loans allows us to offer affordable services and banking technologies members want. By uniting two leading credit unions, we can do more for you!

The combined credit union will be able to make larger investments in staff who serve you, technology to help you bank more easily, and support for our community. Members will have access to five times as many branches and more than 85,000 surcharge-free ATMs across the U.S. – plus online banking enhancements. The 61 full-service branches across New York will include 48 in the Capital Region and 27 video tellers.

We’re looking forward to sharing the new name of the credit union with you! For now, CAP COM and SEFCU will operate as divisions of the new brand while we combine the organizations. As we introduce the new credit union name, you’ll start seeing it on some of our printed materials and electronic channels. Thank you for your patience as we dot each i and cross every t before we share it with you.

You will experience no immediate changes in the services you use. Continue using your debit and credit cards, making deposits, submitting loan payments, and writing checks. Keep banking online or at your favorite branch. Uniting the two credit unions will be a gradual process over many months. Any account-related changes will be gradual with lots of communication and support from our teams.

If any changes to your member number and account numbers are necessary, you’ll be notified well in advance. As always, you can count on our credit union professionals to guide you through any transitions and answer your questions.

Our goal is to offer financial solutions with the most favorable rates and lowest fees by selecting the best from each credit union wherever that’s possible, so members benefit.

Michael Castellana (SEFCU) is CEO of the unified credit union and Christopher McKenna (CAP COM) is President. Patrick Kelly (CAP COM) is Chair of the Board of Directors, and the Board includes members from both credit unions.

Starting August 1, members can perform basic transactions at either credit union. You’ll be able to make deposits, loan payments, and account inquiries. You can withdraw money, take loan advances, and transfer funds between credit union accounts. Plus, you can get copies of account statements.

This is just the beginning to the many shared services you will enjoy. It will take several months to fully merge the systems of the two credit unions and we’ll be sure to let members know as new services are available.

Not just yet. Once access to Allpoint® Network’s 55,000 surcharge-free ATMs is granted, we’ll announce this benefit. You can continue accessing 30,000 surcharge-free CO-OP Network ATMs across the U.S.

Keep visiting your favorite branch for service from the employees you’re accustomed to seeing. To support the needs of members and communities, we’ll continue reviewing the credit union’s footprint to match demand (just as we always have). What’s more, we’ll keep evaluating the need for branch expansion.  

All employees will be vital in the new organization and there will be no merger-related layoffs. A combined credit union of this size creates opportunities for employees to expand their career options in the future. We look forward to maintaining our caring service as we serve a larger member community.

Put your worries aside because once you’re a member here, you are part of our credit union community. We want you to be happy with the services we provide and bank with us for life!

Federal share insurance coverage can extend beyond the standard $250,000 if your accounts are set up properly. No immediate action is needed because you have through January 31, 2023 for us to help you to organize your accounts. Our team can review your options and help you get ample coverage for your accounts during that period.

Many in the Capital Region are familiar with SEFCU but unless you’re a member, you’re probably not well acquainted with them. Because each credit union will continue to maintain services as we gradually transition to one organization, you can learn more about SEFCU at

Your credit union will serve nearly 500,000 members and employ 1,400 people. Sixty-one branches will extend from the Capital Region, through Central New York and the Southern Tier, all the way to Buffalo. We will be among the largest credit unions in New York and the top 30 in the U.S.

We will be bigger for all the best reasons: in the countless ways we benefit members. That said, compared to massive national banks and online financial services, the combined credit union will be fairly small. Providing the array of financial solutions people want, with a personal touch, suits us just fine.

Message to Members

Read the Message