LGE Community Credit Union recently officially became the second credit union in Georgia history to acquire a bank.
The $1.3 billion-asset credit union based in Marietta finalized the acquisition of Georgia Heritage Bank on Sept. 28. The two financial institutions are now one entity, operating under the LGE Community Crdit Union name and charter.
LGE Community Credit Union first announced it entered into a definitive agreement to purchase Georgia Heritage Bank in March. The Georgia Department of Banking and Finance, along with the Federal Deposit Insurance Corporation, and National Credit Union Administration approved the transaction soon after.
At closing, customers of Georgia Heritage Bank became members of LGE Community Credit Union. These new members now have access to member perks including a nationwide ATM network and online as well as mobile banking. The acquisition added two new branches — Dallas and West Cobb at Village Green — growing the number of LGE Community Credit Union’s branches to 13.
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