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Georgia United CU State Employees of Atlanta merge
ATLANTA (5/3/11)--Georgia United CU, Duluth, Ga., has welcomed the State Employees CU of Atlanta in a strategic merger that has been in the works for more than a year. The merger became official Saturday after the end of the business day. Georgia United CU, formerly known as Georgia Federal, serves school system employees and more than 450 employee groups across the state, including the University of Georgia faculty, staff, student and alumni. State Employees CU is a 50-year-old credit union in downtown Atlanta whose members include all Georgia state agencies' employees and retirees. The partnership will unite two of the state's largest and strongest credit unions "to allow greater economies of scale and an expanded branch network," said Georgia United President/CEO Warren Butler. Georgia United has 13 branches and $655 million in assets. State Employees has three branches and $205 million in assets and 26,000 members. Both credit unions will share the Georgia United name. According to State Employees CU President/CEO Ken Merritt, the credit union's board had explored a partnership with another like-minded credit union to expand its service offerings and delivery channels to members. "Georgia United was our choice due to their commitment to service and value. All existing SECU branches will remain open," he said. Members will see the addition of Georgia United's products and services, especially certificates of deposit, credit cards and mobile banking. Ninety-two percent of State Employees CU's membership voting on Jan. 24 approved the proposal.


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