JACKSON, Miss.—The $740-million Hope Credit Union here has agreed to merge in $33-million 1st Choice Credit Union in Atlanta, Hope CU announced.
1st Choice serves employees of the Grady Health System, and is affiliated with the Morehouse School of Medicine, Emory School of Medicine, Southside Health Care Inc., Atlanta Life Insurance Company, and South Fulton Community Development Corporation.
"1st Choice was founded in 1946 as Hospital Authority Credit Union to improve the financial health of Grady Hospital employees, their families, and our neighboring communities," said Billy Wright, chief financial officer at Grady Health System. "We look forward to partnering with Hope Credit Union to continue and expand this 79-year legacy."
"The foundation laid by 1st Choice, and being in Atlanta, presents exciting opportunities to expand our alliances with healthcare providers, HBCUs, and other anchor institutions that are vital to a community's wellbeing,” said Hope CEO Bill Bynum. “This partnership will substantially advance our goal of catalyzing an ecosystem across the Deep South where everyday people have the resources they need to prosper."
With the expansion, Hope will have locations in urban and rural communities throughout the Deep South, including Atlanta, Birmingham, Little Rock, Jackson, Memphis, Montgomery, New Orleans, and across the Mississippi Delta and Alabama Black Belt.
Hope assumed management of 1st Choice in July and will work toward completing the merger this fall.