Call it Catalyst Corporate Federal Credit Union. That is the name agreed upon for the new entity after Georgia Corporate completes its purchase of Southwest Bridge, a transaction expected to be put before NCUA for approval in mid-2011.
"Choosing a name that represents the forging of a new corporate entity is an important step forward," said Greg Moore, CEO of Georgia Federal, in a prepared statement.
"Catalyst is a mission driven word that implies 'building,' 'creating,' and 'moving forward,'" said Dianne Addington, CEO of Southwest Bridge, in the same statement.
The name was picked by a committee representing both corporates.
The statement further indicated that the name "catalyst" was intended to capture the notion of the members of Georgia Federal and Southwest Bridge coming together "to create a new cooperative corporate solution."
"We are excited about the name and how it reflects our intentions for branding the new corporate," said Amy Fuller, COO of Georgia Federal, in an interview.
Fuller also indicated that, pending NCUA approval, the current intent is to headquarter the merged entity in Plano, Texas, where Southwest Bridge presently is based.
She further indicated that although the notion of a merger was reflected in earlier discussions, current thinking among the parties is that this will be a "purchase and assumption" of Southwest Bridge by Georgia Federal.