The members of Stephens-Franklin Teachers Federal Credit Union have approved a merger with Peach State Federal Credit Union.
The approval came out of a vote held at a venue called The Train Station in Toccoa on Oct. 29. The financial merger, which has been approved by the National Credit Union Administration, will become effective Nov. 1.
Stephens-Franklin Teachers Federal Credit Union was established in 1960 to sere the needs of the employees of the Stephens County School System, Franklin County School System and Toccoa Falls College. The credit union has branches in Toccoa and Carnesville.
“Merging with Peach State allows us to offer our members an enhanced suite of products and services,” said Letha Stowe, president and 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.”
Marshall Boutwell, president and CEO of Peach State, said the merger furthers his vision for the credit union.
“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 said. “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.”