BEECH ISLAND, S.C.–After members of Beech Island FCU voted in favor of merging into Peach State FCU, the merger is now completed.
BIFCU had $6.5 million in assets at the time of the merger; Peach State has $335 million in assets and 49,000 members, most of whom live in Georgia.
“The past couple of years have been a period of growth for Peach State as we expanded into the Augusta area with the mergers of Richmond Community FCU and RCT FCU. The merger with Beech Island gives us the opportunity to serve the entire Augusta area and ensures Beech Island’s long term viability,” said Peach State President/CEO, Marshall Boutwell. “We can help Beech Island members and their families achieve their financial goals with the products and services that we offer, while providing additional branches in which to do their banking.”
Beech Island was originally founded in 1971 for employees at Kimberly Clark Organization, but was later awarded a community charter by NCUA. It had 11% net worth at the time of the merger.
“We are genuinely committed to serving our community and this merger will allow us to serve our existing members as well as other credit union members in the Aiken/Augusta area more effectively,” commented Joanne Harper, president/CEO of Beech Island. “We are excited to be part of the Peach State team and we look forward to welcoming our members to a brighter financial future.”