KENMORE, N.Y.– Radius Federal Credit Union said it will officially merge in Lake Shore FCU on Oct. 2.
According to the $65.5-million Radius Federal, the Lake Shore branch on Erie Road in Angola, N.Y., will remain open and fully operational. Members of the $22.3-million credit union will have access to Radius’s Delaware Avenue branch, a wider range of financial products, and expanded digital banking tools, the credit union said.
Both credit unions are profitable, with Radius FCU posting $373,907 in net income for the first half of the year, while Lake Shore FCU had $270,456 in net income over the same period, with net worth of 14.33% as of June 30.
According to Radius, the merger is part of a strategic effort to strengthen the company’s presence in Erie County, while also opening doors for financial growth.
Expanded Capability to ‘Help’
“Our members are at the heart of everything we do,” RFCU President and CEO Lisa Hilton said in a statement. “We’re thrilled to welcome Lake Shore members into the Radius family. With this merger, we’re expanding not just our reach, but our ability to help more people in our community achieve their financial goals.”
Radius Federal Credit Union was chartered in 1942 to serve employees of the Tonawanda Engine Plant under the name Riverside FCU.
The combined CU will have approximately 8,100 members.
