Members of Rose City Federal Credit Union, a $32.5 million institution based in Thomasville, Ga., have voted to merge the credit union with Envision Credit Union, a $481 million institution based in Tallahassee, Fla, about 35 miles southwest of Thomasville.
On August 1, Rose City will effectively merge into Envision CU. The combined entity will have more than 50,000 members.
In connection with the transaction, the two current branches of Rose City in Thomasville will continue to be known as the “Rose City Financial Centers.”
“We are proud to come together with Envision in order to provide the best products and services to our members,” Lee W. Bryant, CEO of Rose City, said in a statement. “The needs of our members have always been a top priority of Rose City, and this merger will allow us to offer them more opportunities while remaining financially strong.”
Darryl G. Worrell, president and CEO of Envision, stated that “like Rose City Federal Credit Union, Envision is dedicated to serving the people of Thomasville.”
The current staff of Rose City, Worrell added, have “served their members well, and they will continue to do so. Rose City members will see the same staff they know and trust at both branch locations.”
Worrell said that Rose City employees and executives will all retain their jobs.
According to its call reports, Envision posted net income of about $2.5 million in 2016, after recording $4.5 million in the prior year. Meanwhile, Rose City recorded net income of about $120,000 last year, after incurring a net loss of almost $37,000 in 2015.