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.
Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.