LAWRENCEVILLE, Ga.– Two Georgia credit unions have announced plans to merge.
The $311-million Peach State Federal Credit Union and the $7-million RCT Federal Credit Union said that members of RCT FCU have voted in favor of the merger, which became effective Aug. 1.
Savannah, Ga.-based RCT was chartered in 1963 to serve the needs of the employees of the Richmond County Board of Education. The credit union was originally founded for the teachers, but was later extended to all Board of Education employees and their immediate family members.
“Peach State was founded by teachers and it is through this foundation that we have common ground with RCT,” said Peach State President/CEO, Marshall Boutwell in a statement. “Through our extensive suite of products and services, we can help these educators and their families achieve their financial goals.”
The combined CU serves approximately 47,000 members.