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In Brief — Feb. 24, 2005 {0253}

In Brief — Feb. 24, 2005 {0253}

e-Review Florida United Methodist News Service

In Brief — Feb. 24, 2005

Feb. 24, 2005    News media contact:  Tita Parham*    
407-897-1140     Orlando  {0253}

Members approve credit union merger

An e-Review News Item
By Tita Parham*

ORLANDO — Members of the Florida United Methodist Credit Union approved a proposal last January to merge with the Georgia Methodist Federal Credit Union.

The two will begin operating as one credit union, the Georgia Florida United Methodist Federal Credit Union, March 1.

Members were able to vote either for or against the merger by mail or at a special meeting Jan. 13 at College Heights United Methodist Church in Lakeland. The merger was approved with 325 votes in favor and 19 opposed, Florida credit union Chairman Douglas H. Zipperer said in a letter to members.

"While we could have remained a viable credit union as we were, it is the opinion of both boards that our union through this merger was the wisest and best way to move us more quickly towards our goal of providing our members with expanded and improved services," Zipperer said. "Combining our resources now will help us achieve that goal much sooner."

The merged credit union will have combined assets of about $20 million, according to Duane DeCorte, chief executive officer of the Florida credit union.

DeCorte said several factors led to the decision to merge, including members urging the credit union to provide a broader range of services. Now, members will have access to debit cards, first mortgage and student loans, automated phone service and the ability to check balances, and other services. DeCorte said meeting and staying abreast of the steady flow of new federal regulations was also becoming more difficult with a small staff.

The merger provides another benefit. "Georgia Methodist has the same field of members and philosophy on savings and loans as us," DeCorte said.

The Florida office will remain open and continue providing services through its current staff. Members received a letter earlier this month providing instructions regarding their accounts and explaining changes that will take place.

Individuals who would like more information should contact the Florida United Methodist Credit Union office at 800-282-8011, extensions 142 or 145.


*Parham is managing editor of e-Review Florida United Methodist News Service.