VERNON, Ala.– Avadian Credit Union is reporting it has completed the acquisition of Citizens State Bank of Vernon, Ala. The two organizations had earlier announced the agreement of the acquisition in December 2021.
As CUToday.info reported here, at the time of acquisition the bank, which is approximately 95 miles from Avadian’s headquarters in Hoover, Ala., had $85 million in assets.
The $1-billion Avadian said it plans keep both of the former CSB branches, including re-opening the downtown drive-thru branch in October.
The addition of the two branches brings Avadian’s locations across the state to 19.
“We are thrilled to be in Vernon, and to be in a part of Alabama we have not had the opportunity to serve until now,” said Linda Cencula, president and CEO of Avadian. “Every member of the existing staff was offered a position to stay on, and we are excited that so many have chosen to become a part of the Avadian family and continue to serve the Vernon community. Their love for their community is contagious.”
‘Additional’ Offerings
In a statement, the credit union said that as the former bank customers become Avadian members, they “will have access to additional products and services, such as enhanced online and mobile banking services, consumer and business credit cards and more lending options. An ATM Plus+ machine has been installed in the main Vernon branch and will allow members to perform transactions plus talk to an Avadian team member with hours that extend beyond normal business hours.”
Avadian has more than 85,000 members.