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News Now

CU System
Catalyst Corporate Merger on track
DULUTH, Ga. (8/29//11)--Integration work is progressing as the Sept. 6 date for the planned launch of Catalyst Corporate FCU in Duluth, Ga., draws near. If the National Credit Union Administration (NCUA) approves the proposed merger of Southwest Bridge Corporate FCU and Georgia Corporate FCU, Catalyst Corporate will be the new entity. The NCUA board is scheduled to review the merger request at its meeting today. If the weekend’s weather prompts a government closure, the meeting will be held at 2 p.m. ET Tuesday. Following the NCUA Board’s review, the members of Southwest Bridge Corporate will conduct a member vote during an in-person meeting on Tuesday at its offices in Plano, Texas. Details regarding the proposed merger and ballots were sent to Southwest Bridge Corporate’s membership in mid-August. Members can vote by mail. Results of the member vote will be known shortly after the meeting. “We continue to be optimistic that the input from hundreds of members and the extensive year-long integration planning will culminate in a successful merger and launch of Catalyst Corporate on Sept. 6,” said Greg Moore, president/CEO of Georgia Corporate FCU. As of Thursday, 875 members have committed $92.7 million to capitalize Catalyst Corporate FCU. Shortly after its launch, Catalyst Corporate will begin promoting two upcoming events:
* The Economic Symposium, which will be held in Atlanta, Sept. 28-29; and * The Economic Forum, which will be held in Frisco, Texas, Oct. 25-26.
Both events will be open to all credit unions, regardless of membership, Moore said.


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