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Two Niagara County credit unions plan merger

by jmaloni
Sat, Sep 8th 2012 09:45 am
Alfred Frosolone is pictured with Nancy Kasprzak-Whitmore.
Alfred Frosolone is pictured with Nancy Kasprzak-Whitmore.

The boards of directors of two Niagara-area credit unions have announced that Niagara County's Federal Credit Union will merge with Niagara's Choice Federal Credit Union, effective Dec. 1.

Nancy Kasprzak-Whitmore, CEO of Niagara County's Federal Credit Union, said Niagara's Choice will promote the merger with what she calls a "great tagline": "Niagara County's FCU is now Niagara's Choice!"

She added, "A mutual commitment to the Niagara County community, access to affordable financial services, expanded products and services, and five convenient locations will be beneficial to all of our members. The friendly partnership between our two credit unions improves our strategic footprint in Niagara County, which serves the three cities in the county and increases our presence in Niagara Falls."

Alfred Frosolone, CEO of Niagara's Choice FCU, said, "We don't anticipate any change in the faces you see when you walk in the door. All employees are expected to remain with the credit union."

Two members of Niagara County's board of directors will join the existing board at Niagara's Choice, and two members of Niagara County's supervisory committee will join the same committee at Niagara's Choice. Paul Roman, chairman of Niagara County's FCU, noted that a vote of their membership overwhelmingly approved the merger with Niagara's Choice FCU.

Niagara County's FCU has two locations, including 260 West Ave., Lockport, and 900 Main St., in Niagara Falls. As of July 31, it had total assets of $47 million and 9,500 members. It was founded by a group of Niagara County employees in 1967.

Niagara's Choice was chartered in 1953 and has three locations, including 3619 Packard Road, Niagara Falls; 3577 Niagara Falls Blvd., North Tonawanda; and 2131 Sawyer Drive in Wheatfield. It has assets of $77 million and more than 13,000 members as of July 31.

Following the merger, the combined assets of Niagara's Choice FCU will exceed $120 million, and membership will number nearly 23,000.

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