COLUMBIA, S.C. —Palmetto Citizens Federal Credit Union said it expects to complete its acquisition of four Georgia branches from Southern Bank on Aug. 1, with the locations scheduled to begin operating under the credit union’s name on Aug. 3.
According to Palmetto Citizens, the transaction with Southern Financial Corporation and Southern Bank will add branches in Waynesboro, Sardis, Gibson and Hephzibah, Georgia. Customers of those offices will automatically become members of the credit union following the closing.
Palmetto Citizens said the transition is designed to minimize disruption for customers. Existing branch employees will remain in place, branch hours will not change, and current loan terms and payment schedules will continue unchanged.
“We’re honored to welcome Southern Bank customers as members of our Palmetto Citizens family,” President and CEO Robert Dozier said in a statement. “Our goal is to combine the hometown service customers value with expanded financial products, modern banking conveniences and the long-term benefits of credit union membership.”
New Debit Cards Coming
The credit union said customers with checking accounts will receive new Palmetto Citizens debit cards in late July. The cards may be activated upon receipt but will not become operational until 9 p.m. on July 31, when the conversion is completed. Southern Bank debit cards will no longer function after that time.
Palmetto Citizens said it has mailed new member information packets outlining key dates, account details and transition information, and plans to continue communicating with customers throughout the conversion process.
Founded in 1936 as Columbia Teachers Federal Credit Union by 10 educators who each contributed $5, Palmetto Citizens has grown to serve more than 87,000 members across South Carolina, according to the credit union.
‘Questions & Opportunities’
“We understand that change brings questions, but it also brings opportunity,” Dozier said. “Our goal is to make this transition seamless while honoring the relationships that already exist.”
The four branches joining Palmetto Citizens are located in Sardis, Waynesboro, Gibson and Hephzibah, expanding the credit union’s presence into eastern Georgia. Until the transaction closes, both institutions will continue normal operations, according to Palmetto Citizens.
