MARIETTA, Ga. - Oct. 2, 2018 - PRLog -- LGE Community Credit Union, a $1.3 billion-asset institution based in Marietta, finalized the acquisition of Georgia Heritage Bank Friday, Sept. 28, 2018, becoming only the second credit union in Georgia history to acquire a bank.
After Sept. 28, the two financial institutions are now one entity, operating under the LGE Community Credit Union name and charter. This acquisition expands LGE Community Credit Union's commercial portfolio, while also offering a greater variety of products, services, and locations to Georgia Heritage Bank customers.
LGE Community Credit Union first announced it entered into a definitive agreement to purchase Georgia Heritage Bank in March 2018. The Georgia Department of Banking and Finance, along with the Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA) approved the transaction.
At closing, customers of Georgia Heritage Bank became members of LGE Community Credit Union. To accommodate the business conversion, all Georgia Heritage Bank locations closed Friday, Sept. 28, at 4 p.m. and remained closed throughout the weekend and then reopened Oct. 1 as LGE Community Credit Union.
LGE Community Credit Union offers a wide variety of financial services. This includes participation in a nationwide ATM network, Online and Mobile Banking (which includes great features like Snap Deposit, allowing users the convenience to deposit a check via the LGE mobile app on your mobile device). The acquisition adds two new branches, Dallas and West Cobb at Village Green, growing the number of LGE Community Credit Union's branches to 13.
LGE Community Credit Union
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LGE Community Credit Union completes purchase of Georgia Heritage Bank
October 02, 2018 at 13:56 PM EDT