Coosa Pines FCU Acquires Failed CDCU

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CHILDERSBURG, Ala. – Coosa Pines FCU has completed a merger of Jefferson Community Development FCU, a failed $1.6 million Birmingham-based credit union.

The $185 million Coosa Pines completed the conversion of member accounts for the tiny CDCU on July 31.

Jefferson Community Development FCU, which operated one branch in Roebuck, had net worth less than 2% and lost $38,000 for the first six months of 2010.

Coosa Pines FCU is celebrating 60 years of service to members in 2010. It has five branches in Central Alabama: Chelsea, Childersburg, Pell City, Roebuck, and Sylacauga.

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