A merger this fall will unite two southern institutions, Atlanta’s 1st Choice Credit Union and HOPE Credit Union of Jackson, Mississippi.
HOPE Credit Union announced the merger via press release, July 30. The move is aimed at boosting financial access in historically underserved communities across the Deep South. Once completed this fall, the merger will expand HOPE’s reach into urban Georgia. The merger will add 1st Choice’s assets and members to its existing footprint spanning Alabama, Arkansas, Georgia, Louisiana, Mississippi, and Tennessee. The combined institution will support new mortgage and business lending roles and deepen ties with healthcare systems and HBCUs.
HOPE CEO Bill Bynum emphasized the aligned mission and the value the company hopes to bring to more Georgia cities.
“We are really excited about the opportunity to be a part of the Atlanta community. … We feel like we can add value to those efforts and work in partnership with others who share our commitment to economic prosperity and inclusive economic mobility.”
He added that while partnership discussions had spanned years, financial strains at 1st Choice prompted the decision to merge.
“There are other organizations that are serving … historically under-resourced people … and we feel like we can add value … and work in partnership” to strengthen community-level financial support,” Bynum said.
For members of 1st Choice, branches at Grady and Sweet Auburn locations will remain open under the new name, Hope Credit Union. Operations will not be jeopardized as all staff will be retained.
“1st Choice was founded in 1946 as Hospital Authority Credit Union to improve the financial health of Grady Hospital employees, their families and our neighboring communities,” said Billy Wright, Chief Financial Officer at Grady Health System. “We look forward to partnering with Hope Credit Union to continue and expand this 79-year legacy.”
When 1st Choice Credit Union first opened its doors nearly 80 years ago, it primarily served employees at Grady Health System. Since then, its reach has expanded beyond the hospital walls, with branches rooted in Grady Memorial and Atlanta’s historic Sweet Auburn community. With more than 8,000 members and long-standing partnerships with institutions like Morehouse and Emory Schools of Medicine, the credit union has functioned as a neighborhood financial anchor. Consequently, HOPE Credit Union sees Atlanta as a natural extension of its mission.
HOPE Credit Union, founded in 1994, has grown to become one of the nation’s largest Black- and woman-owned financial institutions. The institution manages nearly $739 million in assets and serves more than 40,000 members across the six states.
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