The NCUA on Monday issued its approval for the proposed merger of Southwest Bridge Corporate with Georgia Corporate, according to a statement from Georgia Corporate.

The approval was given in a closed-door meeting.

"The Catalyst model represents a combination of traditional and progressive thinking," Greg Moore, president/CEO of Georgia Corporate, said in the statement. "The support of our members, and now the approval of the NCUA Board, demonstrate a growing awareness that the cooperative corporate model continues to be extremely valuable, but that in the future it must be highly efficient and able to achieve success with less balance-sheet risk."

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