Atlanta, Georgia.
The Jackson, Miss.-based Hope Credit Union, one of the nation’s largest Black- and women-owned financial institutions, has announced a merger agreement with Atlanta’s 1st Choice Credit Union, marking HOPE’s expansion into Georgia.
Founded in 1946 to serve Grady Hospital employees, 1st Choice Credit Union currently holds $32 million in assets and serves 8,600 members from its two branches located at Grady Hospital and in the historic Sweet Auburn District. The institution is closely affiliated with prominent health care and educational organizations including Emory and Morehouse schools of medicine.
“1st Choice was founded to improve the financial health of Grady Hospital employees and our communities,” Billy Wright, CFO at Grady Health System, said. “We look forward to partnering with Hope Credit Union to expand this 79-year legacy.”
HOPE CEO Bill Bynum said, “Being in Atlanta presents exciting opportunities to expand our alliances with healthcare providers, HBCUs and other anchor institutions. This partnership will substantially advance our goal of catalyzing an ecosystem across the Deep South where everyday people have the resources they need to prosper.”
With the merger, HOPE’s asset size will grow to nearly $800 million and will serve members from urban and rural communities across the Deep South, including Atlanta, Jackson, Birmingham, Memphis and New Orleans. HOPE assumed management of 1st Choice in July and expects to finalize the merger this fall.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.