Marietta, Ga. (Oct. 2, 2018) – 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.
About LGE Community Credit Union
LGE Community Credit Union provides full-service, federally insured banking to over 108,000 people in northwest Georgia, with better rates and lower fees than you will typically find in a big bank. LGE serves all residents and businesses within Cobb, Paulding, Cherokee and Fulton counties. Since 2010, LGE has invested over $750,000 in the lives of those in the community including children, homeless, abuse victims and those that fall on hard times. For more information, visit LGEccu.org.