The board of directors of Pinnacle Credit Union voted on Friday to merge with Peach State Federal Credit Union. The merger will take effect on September 1, 2024.
The credit unions announced their merger in a joint press release, saying the National Credit Union Administration has approved the financial merger.
The release states that both credit unions have a shared history of serving educators and their members. They also share common values, mission, and culture.
“Our shared history and mission create a new chapter filled with opportunity for Pinnacle’s members. Our Board of Directors and management team are committed to making member-centric decisions that will help them achieve their goals,” says Matt Selke, CEO of Pinnacle Credit Union. “This merger positions us to do just that, and to be able to meet the ever-changing financial needs of our members and communities while staying true to our core values and principles.”
“We are excited to welcome Pinnacle members and staff into the Peach State family and look forward to building meaningful relationships with our new communities,” adds Peach State President/CEO Marshall Boutwell. “It is our goal to make this transition as smooth as possible for Pinnacle’s members, with minimal impact on their day-to-day banking activities.”
Peach State is a $934 million credit union that serves more than 70,000 members across Georgia and South Carolina.
Pinnacle Credit Union was founded in 1926 under the name Atlanta Teachers Credit Union and is currently the second oldest credit union in Georgia
