Capital Communications Continues Growth

ALBANY, NY (08/20/2007)(readMedia)-- For the second time in as many weeks, Capital Communications Federal Credit Union has announced a milestone in its strategic growth plan. On Tuesday, August 21, Credit Union and local officials will participate in groundbreaking ceremonies for new branches in Cohoes and Bethlehem.

“The heart of our Credit Union is our customers and the communities in which they live. We are pleased to add Cohoes and Bethlehem to our Credit Union family,” said Paula Stopera, President/CEO. “The process of planning new branches involves many factors, but at the top of the list is proximity to current members as well as an excellent opportunity to open our doors to new members. Cohoes and Bethlehem certainly fit the bill on both accounts.”

Groundbreaking ceremonies involving local officials, chamber representatives and project principals for both new branches will begin at 10 a.m. Tuesday at 219 Ontario Street, the future location of the Cohoes Branch. Mayor John McDonald is expected to attend. At 11 a.m., a second groundbreaking ceremony will be held at 384 Bender Lane in Glenmont. Bethlehem Town Supervisor John Cunningham, is expected to attend.

On August 8, Excelsior Credit Union’s membership, approximately 12,000 in total, overwhelmingly approved a merger with Capital Communications Federal Credit Union effective October 1, 2007. Capital Communications will retain all current Excelsior members, employees and branch locations. This was the fourth merger for Capital Communications since 2004. Past mergers involved Yankee Doodle Federal Credit Union, Silicone Employees Federal Credit Union and Hudmo Valley Federal Credit Union.

In addition to growing by acquisition, Capital Communications has strategically located new facilities in Clifton Park (2004) and Niskayuna (2005). Once the Excelsior merger and the Cohoes and Glenmont branches are completed, the Credit Union will have 10 locations in the Capital Region.

Capital Communications Federal Credit Union currently has more than 54,000 members and more than $564 million in assets. You can join Capital Communications if you live, work, worship or attend school in the Town of Green Island, or the cities of Albany, Troy, Cohoes, Mechanicville, Rensselaer, Schenectady or Watervliet. You can also join if you are an employee of one of more than 300 employers in the Capital Region who offer Capital Communications membership as a free employee benefit. Offices are located in Albany, Latham, Clifton Park, Niskayuna, North Greenbush and Waterford. Capital Communications offers a complete line of financial products and was ranked first among credit unions nationwide for member service in a survey conducted by the Raddon Financial Group.