And then there was one step to go.
Members of Southwest Bridge Corporate voted overwhelmingly Tuesday to support forming the new corporate credit union Catalyst, an entity set to rise from a merger of Southwest with Georgia Corporate.
Some 98% of the 685 Southwest members that voted supported the merger and thus creation of Catalyst, according to a statement from Amy Fuller, COO at Georgia Corporate.
The first step this week was winning approval for the merger from NCUA, which came on Monday.
Next up is the third and last step, which is a vote by the Georgia Corporate board. That vote is slated for Wednesday.
In a statement, Georgia Corporate said, “The merging corporates have raised approximately $93 million in capital from 875 members, representing 74 percent of previous capital shareholders.”
Greg Moore, CEO of Georgia Corporate, confidently added that come Sept. 6, Catalyst will open its doors to serve its members.