ESL Federal Credit Union has officially expanded its footprint across the Finger Lakes.

The Rochester-based credit union announced it completed the acquisition of substantially all assets of Generations Bancorp NY, Inc., the holding company of Generations Bank, on Jan. 1. The move adds eight new locations and extends ESL’s reach into several new counties.

With the deal finalized, ESL now operates 33 full-service branches across the Greater Rochester and Finger Lakes region.

The acquisition gives ESL its first branch locations in Cayuga, Orleans, and Seneca counties, while also expanding its presence in Ontario County. As a result, the credit union now holds more than $9.8 billion in assets and employs more than 1,000 people.

“We’re excited to complete the acquisition of Generations Bank, marking a significant milestone for ESL and for the communities we serve,” ESL President and CEO Faheem Masood said. “We look forward to building new relationships with employees, customers, local businesses and partners that are now part of our shared home.”

Masood said ESL also plans to invest in the people and communities across Cayuga, Ontario, Orleans, and Seneca counties.

The transaction required approvals from the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency. All three regulators signed off on the deal in 2025.

Account conversions for former Generations customers are expected to take place on Feb. 1.

Following the acquisition, ESL’s membership has grown to approximately 459,000 members and nearly 18,200 businesses. Additional details about the transition are available on the credit union’s website.

What about ESL’s roots?

Founded in 1920, ESL Federal Credit Union serves members and businesses through personal banking, business banking, mortgage services, and wealth management. The institution operates through its 33-branch network, as well as telephone, mobile, and online banking services.

ESL has paid 30 consecutive Owners’ Dividends totaling more than $320 million since 1996. Since launching its Community Impact initiative in 2018, the credit union has reinvested more than $153 million in grants across the region.

FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].