TOCCOA, Ga.–Two Georgia credit unions have announced a merger. Members of Stephens-Franklin Teachers FCU have given the OK to merge into Peach State FCU following a member vote held in the Mitchell-Allen Room at The Train Station during a special meeting.
In a statement, the credit unions said the merger is the “result of a mutual goal on the part of both credit unions’ boards and management to provide the latest technologies, and a greater array of products and services to their membership.”
The $20.1-million Stephens-Franklin Teachers FCU was chartered in 1960 to serve the needs of the employees of the Stephens County School System, Franklin County School System and Toccoa Falls College. It operates two branches.
‘Enhanced Suite of Offers’
“Merging with Peach State allows us to offer our members an enhanced suite of products and services,” said Letha Stowe, president/CEO of Stephens-Franklin. “They were also founded by educators more than 50 years ago and we’re proud to become part of that continued commitment to honoring that foundation through their support of educators and school systems.”
Added Marshall Boutwell, president/CEO of the $484-million Peach State, “Our strategic growth throughout the region is helping to create a stronger network of financial services for people who may not have had access to them in the past,” he commented. “We are so pleased to see the Peach State family grow and have the opportunity to improve the financial lives of more credit union members.”