DULUTH, Ga.—The Georgia Credit Union Affiliates is considering consolidating with the League of Southeastern Credit Unions, which represents credit unions in Florida and Alabama.
GCUA President Mike Mercer told CUToday.info that member CUs are currently voting on a potential merger.
“There are several membership and shareholder votes on various issues in this process, and some of them are underway and some of them are not,” said Mercer. “We don’t have any results yet, but it won’t be too long before we know one way or another.”
Mercer said GCUA has been working on the potential merger for “quite some time. However, there are several things that still need to clear up before we can cross the finish line, if there is a finish line.”
There are close to 100 credit unions that are members of GCUA, according to the league’s website.
The League of Southeastern Credit Unions & Affiliates represents 242 credit unions in Alabama and Florida with a combined total of $89 billion in assets and more than 7.8 million members.
The announcement of the potential merger among the associations follows a similar announcement by the Pennsylvania CU Association and the New Jersey Credit Union League, which recently announced their own plans to combine, as CUToday.info reported here.