Empire, Power federal credit unions consider merger

SYRACUSE - Two Syracuse-based federal credit unions are exploring a possible merger that, if approved, would have the new credit union stretch from the Southern Tier to the Mohawk Valley and even into western New York.

While no deadlines are in place, discussions began in January between Empire Federal Credit Union and Power Federal Credit Union. The two credit unions hired Woodlands, Texas-based D. Hilton Associates, to serve as a consultant in the merger talks.

J. Raymond Curtin, Empire's president and CEO, says a special merger committee, comprised of board -of director members from the two credit unions, has been meeting regularly with the consultant over the past five months.

Both Curtin, and Cheryl Welles, Power Credit Union's marketing director, point to the similarities of the...