NCUA Approves Southwest Corporate/Georgia Corporate Merger
ALEXANDRIA, Va. – NCUA this afternoon approved the combination of Southwest Corporate (Bridge) FCU with Georgia Corporate FCU, one of half-dozen pending corporate mergers.
The new corporate will be known as Catalyst Corporate FCU and serve 875 credit unions. The two corporates say they have raised almost $93 million in new capital, more than enough, to launch the new corporate.
The NCUA’s approval is one of three important steps that the merging corporates seek to accomplish this week. The others include approval from the Southwest Bridge Corporate membership, to be decided during a special member meeting on August 30, and final approval from the Georgia Corporate Board, scheduled for August 31.