Lakelands Federal Credit Union will merge with Peach State Federal Credit Union effective April 1.
Lakelands’ members approved the merger in a vote at Piedmont Technical College on Tuesday. It had previously been approved by the NCUA.
“The merger is the result of a mutual goal on the part of both credit unions’ boards and management to ensure that quality financial services are available throughout the community,” according to a Peach State press release.
Lakelands was chartered in 1975 to serve the employees of the Greenwood Mills, Inc. in Greenwood, S.C. The credit union switched to a community charter in 2000 and became authorized to serve anyone who lived, worked, worshiped or attended school in the community.
Lakelands’ Chairman of the Board Tommy said the merger with Peach State “was a strategic action to ensure a strong futrue for our member-owners and our staff.”
“With an enhanced suite of products and services, Peach State is better positioned to have a positive impact on the lives of our members and their families,” Cox said.
Peach State President and CEO Marshall Boutwell said the merger will allow the credit union to offer an additional branch to existing members and to offer new products and services to Lakeland members.
“This is an important time for our credit union,” Boutwell said. “Peach State is growing rapidly with a goal of meeting the needs of credit union members throughout the entire Northeast Georgia and Southwestern South Carolina areas. We look forward to welcoming Lakelands to the Peach State family.”