Southeast FCU members approve merger with Peach State FCU
LAWRENCEVILLE, GA (November 6, 2017) — Southeast FCU members have approved a merger with Peach State FCU. This announcement follows a vote that was held at the Cornelia branch of Southeast on November 1st during a Special Meeting of Members. The financial merger, which has been approved by the National Credit Union Administration, is effective December 1, 2017. This merger demonstrates a shared commitment on the part of both credit unions’ Boards and management to grow stronger and remain highly competitive in today’s financial marketplace.
Southeast was chartered in 1976 to serve the needs of the employees of the Riegel Textile Corporation. Over the years, they have expanded their field of membership and currently serve more than 200 Select Employee Groups.
“Southeast’s decision to merge with Peach State was unusual but admirable because they truly didn’t have to merge,” commented Marshall Boutwell, President/CEO of Peach State. “The Board and management at Southeast took their members, their employees and their communities into consideration with this strategic decision. With an enhanced suite of products and services, they will be better positioned to have a greater impact on the lives of their members.”
John Fair, President and Chief Executive Officer of Southeast, is looking forward to becoming part of the Peach State team. “This is an exciting time for our credit union,” he commented. “Peach State was an ideal merger partner because both credit unions share the same values and cultures—supporting local communities and putting members first. In addition, the ability to provide our members with the latest technologies and a greater array of products and services will truly have a positive impact on how they achieve their financial goals.”
Marshall Boutwell, President/CEO of Peach State FCU; Pat Worrall, Chairman of the Southeast FCU Board of Directors; John Fair, President and Chief Executive Officer of Southeast FCU
About Peach State Federal Credit Union
Peach State is a $752 million credit union that serves more than 72,000 members in Georgia and South Carolina. Operating as a not-for-profit financial cooperative, Peach State’s mission is to provide quality financial services that meet the needs and exceed the expectations of its member-owners. For more information about our products and services, visit www.peachstatefcu.org. The credit union’s passion for helping their members and community continue to grow guided them to create the Peach State FCU C.A.R.E.S. Foundation. To learn more about how Peach State cares, visit https://www.peachstatefcu.org/Stories/Peach-State-CARES.
