Georgia’s Own Credit Union completes bank acquisition

Georgia’s Own Credit Union recently made history as the first Georgia credit union to acquire a bank.

The $2.3 billion-asset institution finalized the acquisition of the State Bank of Georgia on Thursday. The transaction was first proposed late last year, according to a Credit Union Journal article. 

“We’re excited to be a part of this historical moment in Georgia’s financial arena, but even more so to be gaining employees and members from an organization whose extremely high service standards and commitment to member prosperity so closely mirrors our own,” said Georgia’s Own President/CEO Dave Preter. “In addition, the connection they have made with the citizens and businesses in the Fayetteville community will be an integral part of growth as we continue to expand our operation throughout the state.”

All SBG customers will now have the opportunity to become members of Georgia’s Own. In fact, the credit union has designated staff and resources to welcoming the new members and employees from SBG.

“Providing our customers with the utmost financial value was always our top priority and I’m thrilled that they will now have the opportunity to become members in one of the state’s premier financial institutions,” said Lay Curry, former board chairman of the bank. “This partnership will provide them with more extensive loan options, lower loan rates, higher deposit yields and a broader service platform all while maintaining the culture and customer-first philosophy that we cultivated throughout the years.”

Also featured in: Credit Union Journal