Dothan, AL (PRWEB) November 17, 2014
Georgia Coastal Federal Credit Union (Georgia Coastal) of Brunswick, GA, merged with Five Star Credit Union (Five Star) of Dothan, AL, effective November 1, 2014. Five Star will continue as the ongoing credit union and Georgia Coastal’s Stadium Street office will become Five Star’s third Glynn County branch, according to Robert A. Steensma, Five Star’s President and CEO. “The merger positions the combined organization to better serve our members in Glynn County. We believe the recovering economic conditions in Glynn County present an opportunity for our continued expansion there,” said Steensma. “Our next step will be the integration of computer systems, member accounts and the many services offered by each credit union,” Steensma said. “The integration process is expected to be completed in December. Georgia Coastal’s Stadium Street office will continue to serve members before, during and after this process and we believe the members of Georgia Coastal will quickly realize the increased benefits Five Star offers.”
Five Star currently operates 13 branches in Southeast Alabama and across South Georgia. With the acquisition of the $13.7m asset and 1,848 member Georgia Coastal, Five Star now has combined assets of approximately $310 million and serves 29,000 members.
Five Star Credit Union is a member-owned cooperative financial institution open to anyone who lives, works, worships, or attends school in 8 Southeast Alabama counties, as well as anyone who lives, works, worships, volunteers, and attends school in Glynn, and those who live in Early, Grady, Decatur, Quitman, Miller, Mitchell and Seminole counties in South Georgia. Founded in Cedar Springs, GA in 1964, Five Star Union is headquartered in downtown Dothan, AL.
Georgia Coastal Federal Credit Union, originally chartered in 1941, had its sole office in Brunswick, GA. The credit union chose to merge into Five Star to enhance their ability to meet the loan, deposit and ongoing needs and expectations of its member-owners.