ATLANTA — Georgia Credit Union Affiliates wasted no time Monday in reminding the public of its freshly-minted safety and soundness ad campaign following the failure of Georgia's fourth community bank.
"It is a fact that our credit union members are getting many calls over the weekend and so we felt important to spell out the details of our campaign in a press release," explained a league spokeswoman regarding the "coincidental" timing of the announcement.
On Friday, the Georgia Department of Banking and Finance closed the $197 million First Georgia Community Bank in Jackson with the FDIC named as receiver and awarding the good assets to United Bank of Zebulon, Ga. The failed bank's four offices reopened on Saturday as United branches.
Recommended For You
Meanwhile, GCUA fired off "a more detailed" press release on its safety/soundness blitz launched the first week of November on billboards, radio and TV under a "Belonging to a Credit Union is Easy. Your Money Will Thank You" theme.
"This has been a prime opportunity for credit unions to get the word out about the unique position credit unions have in the financial services industry and how people can rest assured that Georgia credit unions are safe, secure and ready to lend," said Eric Jenkins, senior vice president of credit union growth services in the Monday release.
The First Community failure on Friday follows the collapse of three other Georgia banks in less than four months. Two of the banks, Alpha and Integrity were in Alpharetta, an Atlanta suburb, and the third, Community in Loganville, was seized two weeks ago.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
