Guardian buys two Alabama financial institutions from Georgia group

Guardian Credit Union announced that it has reached an agreement with SouthCrest Financial Group to purchase its two Alabama offices and all related deposits and assets.The sale, subject to regulatory approval, is expected to close in early 2017. “We are pleased to be acquiring two branches from a bank that has similar values and culture,” […]

Guardian Credit Union announced that it has reached an agreement with SouthCrest Financial Group to purchase its two Alabama offices and all related deposits and assets.The sale, subject to regulatory approval, is expected to close in early 2017.

“We are pleased to be acquiring two branches from a bank that has similar values and culture,” said Heath Harrell, president and CEO of the $375-million Guardian Credit Union. “We are excited to join with like-minded employees and customers in Chilton County, as this is a win for all employees, customers, members, and the community. The acquisition furthers our growth strategy and positions us as a premier credit union in Central Alabama.”

Guardian will pay a 5 percent deposit premium on the total deposits transferred, which are expected to be about $45 million, and purchase more than $6 million worth of loans.

The bank branches, one located in Clanton, AL, and the other in Maplesville, AL, will give Guardian 14 locations across the state.

Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.