Merger creates $ 190 million credit union 24,000 serving members throughout Niagara region
Niagara's Choice Federal Credit Union and Niagara Falls Memorial Medical Center Federal Credit Union announced their merger has received regulatory approval as well as approval by a majority vote of NFMMCFCU membership. The merger will become effective June 4, with a soft opening first and then a grand opening planned later this year.
Niagara's Choice CEO Dan Keleher said, "On behalf of the board of directors and the executive management team, we are very excited about moving into the final phase of this merger and welcoming all of the Memorial credit union members to Niagara's Choice.
On June 4, all of Niagara's Choice products and services will be available to the current members of Memorial credit union. Our sincere appreciation goes out to the Memorial credit union members who overwhelmingly voted for the merger and the Memorial credit union board of directors who supported this every step of the way."
The board of directors of the Niagara Falls Memorial Federal Credit Union stated, "This is a very exciting time for our credit union and the members it serves. We are able to expand services such as online banking, credit cards, debit cards and mobile app banking, etc. In addition, members will be able to do banking at six different locations. The Niagara's Choice staff is very friendly and courteous. This is a very positive move to secure financial stability for our credit union members. Niagara Falls Memorial Federal Credit Union welcomes this opportunity to join Niagara Choice's family and we are very excited to partner with them!"
"Having a credit union at Memorial Medical Center through the years has been a real convenience to our employees and their family members," Memorial Medical Center President and CEO Joseph A. Ruffolo said. "The June 4 merger of the NFMMCFCU with Niagara's Choice Federal Credit Union will make it even better with the addition of new services, including mobile app banking, online banking and debit cards, just to name a few. Members also will be able to do their banking at several branch locations and shared service ATMs across Niagara County."
Niagara's Choice Federal Credit Union was founded in 1953 by a small group of employees of the former Hooker Chemical Co. In 1989, the credit union was renamed OxyChem Niagara Federal Credit Union to coincide with Hooker Chemical becoming Occidental Chemical (OxyChem). In 2004, OxyChem FCU became Niagara's Choice FCU to better reflect the people it served. The credit union then opened membership to all persons who live, work and worship, volunteer or attend school in Niagara County.
Niagara's Choice FCU merged with Niagara County FCU in 2012 expanding to a five-branch, $124 million, 50-employee credit union. Niagara's Choice is currently the third-largest credit union, assetwise, headquartered in Western New York.
