VALDOSTA, GA (July 30, 2014) -- The Board of Directors at Southeastern Federal Credit Union and Nashville Credit Union announced today their intent to merge the two Georgia-based credit unions. The combined partnership will provide a broader array of financial products, services and technology to Nashville Credit Union members and expand Southeastern Federal Credit Union’s member base.
"We are extremely pleased to welcome Nashville Credit Union members, employees and supporters to the Southeastern Federal Credit Union family," said President/Chief Executive Officer Mike Gudely. "As our two organizations combine, Nashville Credit Union members will continue to experience the exceptional member service and friendly faces they are accustomed to with no service interruptions. We are excited to bring Nashville members added convenience, additional product offerings and access to enhanced technology by serving them in the five Southeastern Federal Credit Union branches.”
"Nashville Credit Union is the ideal strategic partner for us,” added Mr. Gudely. “Both credit unions are financially sound, our fields of membership are complementary to one another, and we share similar values for members, employees and the community.”
The merger will provide greater convenience and value to both Nashville and Southeastern Federal Credit Union members. As both credit unions are deemed financially secure, the merger is considered strategic in nature.
“It is important we retain our identity as a credit union that is committed to the Nashville area and our members,” said Tina Burkhalter, President/Manager Nashville Credit Union. "With the rapidly increasing demand for technology and convenience, and growing regulatory burdens, a merger with Southeastern Federal Credit Union is the ideal solution for our membership."
“We feel this partnership is a win-win for both Southeastern Federal and Nashville Credit Unions,” stated Mike Beverly, Chairman of Southeastern Federal Credit Union. “We welcome Nashville members to our credit union family, and invite their membership to enjoy the added convenience of the five full- service Southeastern Federal CU branches in Georgia as well as our full range of financial products and services.”
The merger is subject to both regulatory and member approval. The intended merger is expected to be completed in the fourth quarter of 2014.
About Southeastern Federal Credit Union
Founded in 1953, the Valdosta-based credit union currently holds approximately $200 million in assets, has more than 25,000 members and operates five offices in Valdosta, Tifton and Moody AFB. Southeastern Federal CU is a leading provider of consumer loans, mortgages, free checking services and deposit products throughout its ten-county charter designation in South/Central Georgia.
About Nashville Credit Union
Nashville Credit Union is a member-owned, state chartered credit union located in Nashville, Georgia. Established in 1973, Nashville Credit Union now holds approximately $15 million in assets, serves more than 2,600 members and operates one branch office in Nashville, GA.