Gainesville-based HALLCO Community Credit Union and Clarkesville-based Habersham Federal Credit Union (HFCU) have merged their operations.
The merger was official on Friday, May 1.
Leaders of the two financial institutions said the combined operations will allow them to better serve existing and future members in a seven-county region of Northeast Georgia. The coverage area for the new operation will be Banks, Dawson, Habersham, Hall, Lumpkin, Rabun and White counties.
At this point, the newly-formed entity has not been renamed to reflect the merged operations.
"Over the last several years, the board and management of HFCU have been working diligently to identify and add the products and services that our members want and need,” said Jessi Rothell, President and CEO of Habersham Federal Credit Union. “We made the decision to partner with HALLCO with our members first in our minds. HALLCO is the perfect partner for HFCU because we have the same founding principles and serve our members with the same core values. We genuinely believe that together we can achieve more for our members than we ever could apart."
Established in 1971, HALLCO Community Credit Union marks the oldest of the two entities. Although, Habersham Federal Credit Union wasn’t far behind with a founding date of 1978. HALLCO has branch locations in Gainesville, Oakwood, Flowery Branch and Cleveland, and HFCU has branch locations in Clarkesville, Homer and Clayton.
By June 1, all Habersham Federal Credit Union branches will be ready to begin offering HALLCO services. Existing HALLCO and HFCU members will be able to access all HALLCO services at each branch. On November 1, accounts from both entities will be merged under the newly established credit union.
“HALLCO and Habersham Credit Unions have both worked diligently to create a service first culture while maintaining a solid financial position,” said Joe Foster, President and CEO of HALLCO Community Credit Union. “We’re simply two financially stable credit unions teaming up to become one of the best community-based credit unions the State of Georgia has ever seen for the benefit of our members. Together, we can leverage our strengths and continue to build a credit union to meet the financial needs of the residents of Northeast Georgia."