A merger this fall will unite two southern institutions, Atlanta’s 1st Choice Credit Union and HOPE Credit Union of Jackson, Mississippi.
HOPE CEO Bill Bynum emphasized the aligned mission and the value the company hopes to bring to more Georgia cities.
“We are really excited about the opportunity to be a part of the Atlanta community. … We feel like we can add value to those efforts and work in partnership with others who share our commitment to economic prosperity and inclusive economic mobility.”
He added that while partnership discussions had spanned years, financial strains at 1st Choice prompted the decision to merge.
“There are other organizations that are serving … historically under-resourced people … and we feel like we can add value … and work in partnership” to strengthen community-level financial support,” Bynum said.
For members of 1st Choice, branches at Grady and Sweet Auburn locations will remain open under the new name, Hope Credit Union. Operations will not be jeopardized as all staff will be retained.
“1st Choice was founded in 1946 as Hospital Authority Credit Union to improve the financial health of Grady Hospital employees, their families and our neighboring communities,” said Billy Wright, Chief Financial Officer at Grady Health System. “We look forward to partnering with Hope Credit Union to continue and expand this 79-year legacy.”
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Source: Black Enterprise
