JACKSON, Miss.–Two credit unions here have announced merger plans.
The $247-million Hope Federal Credit Union (HOPE) in Jackson, Miss. said it will be absorbing via merger the $14-million Tri-Rivers FCU in Montgomery, Ala.
HOPE, one of the nation’s largest community development financial institutions, has grown quickly since its founding in 1995.
“We are very excited about building on the strong foundation established by Tri-Rivers to help ensure that all Alabama residents have the opportunity to improve their lives, support their families and strengthen their communities,” said HOPE CEO Bill Bynum in a statement.
Tri-Rivers CEO James Dill, who will serve as manager of what will now be the HOPE-Montgomery branch, added in a statement, “We look forward to the merger with HOPE because it will create additional opportunities to build deeper relationships with the school system, area businesses and organizations. Our membership also will continue to have an institution that puts their needs first.”
With the Tri-Rivers merger, HOPE will serve approximately 40,000 households from 29 locations in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.