Tuesday, October 2, 2018

Two Bank Mergers with CUs Completed

Two bank mergers into credit unions were completed at the end of the third quarter.

The merger of Georgia Heritage Bank (Dallas, GA) into LGE Community Credit Union (Marietta, GA) became effective on October 1, 2018.

Achieva Credit Union (Dunedin, FL) completed its merger with Preferred Community Bank (Fort Myers, FL) on September 30, 2018.

Customers of Preferred Community Bank (PCB) must sign and submit the Opt-In Agreement by December 31, 2018 indicating their desire to become a member of Achieva Credit Union (ACU).

Achieva Credit Union stated:
If you are currently a PCB depositor, ACU will convert your current account(s) at PCB to a comparable account(s) at ACU at the time of consolidation. For any loan customers without a deposit relationship with PCB, ACU will make the first $1 deposit into your savings account to ensure your ownership of at least one membership share. In either case, to make this transition, ACU will waive its customary $15 membership fee for all PCB customers.

For customers of Preferred Community Bank that do not otherwise meet Achieva's eligibility requirements, the credit union will waive the $10 donation to the Achieva Foundation.

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