Augusta VAH and SRP credit unions will merge by the end of the year.
The two credit unions have a combined $1 billion in assets, 20 branches and more than 50 ATMs in Georgia and South Carolina. Their intent to merge has already been approved by each credit union’s board of directors. The merger is still subject to regulatory approvals, but is expected to be completed by the end of the year.
“This voluntary merger wtih SRP Federal Credit Union will provide a means for the enhanced products and services that Augusta VAH Federal Credit Union membrs desire,” said Phyllis Cochran, president and CEO of Augusta VAH Federal Credit Union. “We are very happy to be merging with a local credit union that is committed to serving the communities that we live, work and worship in together. We are eager to begin this journey and know it will be beneficial for our members.”
Harry Gunsallus, president and CEO of SRP Federal Credit Union, agreed with Cochran.
“We are both locally-based credit unions wit the common interest of serving and improving our community,” he said. “We believe this merger solidifies our commitment to staying local and to expanding our presence in the Augusta market.”