Press
Georgia United Credit Union and HealthCom Federal Credit Union announce merger plans
DALTON, GA (January 5, 2015) — The Board of Directors for Georgia United Credit Union and HealthCom Federal Credit Union have announced their intention to merge in 2015. Both Credit Union Boards have approved and submitted merger plans to their respective state and federal regulatory agencies and are currently awaiting regulatory approval.
HealthCom Federal Credit Union Board Chair Terri White-Sullivan shares, “HealthCom’s Board of Directors had been exploring a partnership with another like-minded credit union in order to expand our service offerings and delivery channels to members. Georgia United was our choice due to their strong financial health, commitment to member service and value, and their extensive branch network.
This new partnership will provide additional value to our members while keeping everything members love about HealthCom. We will retain our current branch along with our friendly and knowledgeable staff. Plus, our members will gain the addition of Georgia United’s products and services like mobile banking, mobile deposit and lower rates on credit cards, consumer and mortgage loans.”
Georgia United’s Board Chairman Tom Dickson agrees. “Strategic mergers between healthy credit unions have become more common in recent years. When smaller credit unions intentionally partner with a larger credit union in their market, it benefits both organizations as the smaller credit union has immediate access to additional services and delivery channels and the larger credit union gains additional members who are interested in their services. Georgia United is looking forward to this partnership with HealthCom in Dalton.”
After providing informational mailings in early 2015, HealthCom will complete the legal approval process with a special membership vote. The vote to affirm the merger will be conducted during a special membership meeting open to their 2,200 members in early 2015.
Going forward, both credit unions will share the Georgia United Credit Union name.
The Two Credit Unions at a Glance:
- Georgia United (georgiaunitedcu.org), is one of the largest and strongest credit unions in Georgia – with $993 million in assets, 12% in reserves, 228 employees and 16 branch locations – including a Dalton Branch at 605 Calhoun Street, managed by Vonda Bledsoe.
o Georgia United Credit Union was originally chartered as an educators’ credit union in DeKalb County in 1959. Formerly known as Georgia Federal Credit Union, Georgia United first came to the Dalton community via a merger in 1983 with Carpet Capital Credit Union of Dalton.
o Georgia United serves all residents of Whitfield County, state and school system employees, and the area’s largest employers including Shaw Industries and Beaulieu.
- HealthCom (healthcomfcu.org), originally chartered in 1958 to serve the employees of Hamilton Medical Center, has over $10 million in assets, 17% in reserves, 5 employees and an office at 1412 Chattanooga Avenue, managed by President & CEO Deborah Wright. HealthCom serves the residents of Whitfield and Murray counties.