TULLAHOMA, Tenn. —The $4.67-billion Ascend Federal Credit Union in Tennessee and the $2.32-billion LGE Community Credit Union in Atlanta said they are seeking to merge and will put the proposal to a vote of the LGE membership.
The credit unions said the proposed partnership brings together two CUs that are each marking 75 years of service, adding that the decision reflects a shared commitment to the principle of “people helping people” while positioning the combined organization for future growth.
Ascend, which has approximately 264,000 members, had $53.6 million in net income at year-end 2025, to go with net worth of 14.47%. LGE Community, which has approximately 125,000 members, had $15.1 million in net income and net worth of 12.17%. The two credit unions are approximately 190 miles apart.
‘Rooted in Responsibility’
“This partnership is rooted in responsibility and care,” Chris Leggett, president and CEO of LGE Community Credit Union, said in a joint statement issued by the credit unions. “By coming together, we can strengthen our ability to support members and communities while staying true to the principles that have guided us for decades.”
Leggett added that the merger is intended to preserve the service culture members expect while expanding the organization’s ability to invest in products, services and long-term community impact.
‘Closely Aligned Values’
Ascend President and CEO Matt Jernigan said the two organizations share closely aligned values and a focus on member-first service.
“Both organizations share a deep commitment to member-first service and community impact,” Jernigan said in the statement. “This planned merger allows us to build on those strengths with intention, ensuring we continue to serve people with clarity, care and purpose — today and into the future.”
Jernigan said the partnership is designed to enhance the credit unions’ ability to meet evolving member needs while maintaining the relationship-based approach that has defined both institutions.
Nearly 1,000 Employees
Combined, the two CUs would have approximately 950 employees and more than 40 branch locations. The institutions said their geographic footprints are largely complementary, allowing them to extend reach without significant overlap.
The organizations also said they are committed to retaining all employees following the merger, a move they said is intended to preserve institutional knowledge and maintain the level of service members rely on.
Management Changes
Under the proposed structure, the combined entity would operate under the Ascend Federal Credit Union name, with Jernigan serving as president and CEO. Leggett would transition into an executive leadership role with the combined organization, according to the announcement.
The credit unions said the merger is expected to become legally effective in late 2026 or early 2027, subject to regulatory review and approval by LGE members, with systems integration continuing into 2027.
