For more than 75 years, Ascend Federal Credit Union and LGE Community Credit Union have been guided by a shared purpose: to serve people, strengthen communities, and earn the trust placed in us by our members.
Planned Partnership Between Ascend Federal Credit Union and LGE Community Credit Union
With that responsibility in mind, Ascend and LGE have announced plans to merge later this year, pending regulatory approval and a vote by LGE members. This planned partnership brings together two credit unions founded on the same principle – people helping people – and reflects a thoughtful step forward in how we continue to serve our members. As we share this news, we want to be clear about what this partnership means for you – and what will remain the same.
The Same Trusted Service
The people you know and trust will still be here to serve you. Our commitment to personalized, member-first service will not change. This partnership is designed to preserve the care, familiarity, and support our members expect – intentionally and with purpose.
Continued Commitment to Our Communities
Both Ascend and LGE have deep roots in the communities we serve. Together, we will strengthen our ability to invest in local initiatives, support community organizations, and provide financial education – while remaining grounded in the places we call home.
More Access and Convenience
Members will have access to additional branch locations and ATMs across Tennessee and Georgia, providing greater convenience and flexibility as needs change over time.
This planned merger is focused on long-term stability and ensuring we can continue to show up for our members today and in the future.
By joining forces, we will be better positioned to thoughtfully invest in products, services, and technology, which make banking simpler and more supportive – while staying true to who we are. The merger is expected to be completed in late Q4 2026/early Q1 2027, pending regulatory and LGE member approvals. As the process moves forward, we are committed to communicating openly and sharing updates along the way. Thank you for the trust you place in us. We approach this next chapter with care, gratitude, and a deep sense of responsibility to the members and communities we serve.
FAQs
This announcement marks an exciting step forward as Ascend Federal Credit Union and LGE Community Credit Union plan a strategic merger, pending regulatory and member approval.
This partnership is about strengthening how we serve you — bringing together two strong, community-focused credit unions to further our mission of people helping people and creating even greater value for our members.
Together, we’ll expand our reach, enhance our products and services, and create more ways to support your financial journey, all while staying true to our values and commitment to the communities we serve.
Strategic mergers – or merger of peers – offer a unique opportunity to combine strengths, expand our impact, and adapt to the evolving financial landscape. By coming together, we can unlock value for members, provide better tools and resources for employees, and strengthen our community initiatives.
This is a true partnership, not an acquisition or takeover. Both organizations are uniting, with a shared vision to better serve our members and communities. This merger represents another way to grow, allowing us to pool resources, leverage our collective expertise, and expand opportunities for innovation and service excellence. By working together, we can achieve more than either of us could on our own.
LGE was chosen for its deep roots in its communities, its longstanding tradition of member-first service, financial stewardship, and dedication to employees. It exemplifies excellence in serving members and fostering a positive workplace culture. This strong alignment of values makes them an ideal partner for this next chapter.
Originally chartered 75 years ago to assist Lockheed Georgia constituents, more than 300 employees now serve 125,000 members across 17 locations in Georgia. With assets topping $2.3 billion, it is the epitome of strength and stability in the credit union landscape.
Organizations in different geographies choose to merge because their differences are complementary, not competitive. By combining strengths, expertise, and resources from distinct markets, both organizations can expand our collective reach, improve long-term stability, and better serve our members. Geographic diversity also reduces concentration risk, creates new growth opportunities, and allows best practices from each region to be shared and scaled across the combined organization.
Just as important, this partnership represents and respects the strong local pride that employees and members have in their communities. Each geography brings its own history, culture, relationships, and way of serving members – these are assets, not obstacles. Being “United in Purpose, Focused on Service” does not mean losing local identity; it means preserving what makes each organization unique while creating a stronger, more resilient future. The goal is to be a combined organization that honors local roots, empowers employees in every market, and leverages regional strengths to create greater impact for all.
Absolutely. Both boards of directors enthusiastically support the merger and are excited about the opportunities it brings for growth and enhanced benefits for everyone involved.
This partnership brings together two strong organizations with a shared commitment of supporting the financial wellbeing of our members, with approximately 950 employees and more than 40 branch locations across Tennessee and Georgia, serving more than 390,000 members.
The combined organization offers a stronger, deeper leadership team, improved stability of business and earnings, and the ability to provide enhanced products, services, and technologies that could facilitate enhanced operational performance, strategic growth, and risk management for the combined institution.
The combined credit union will also have increased resources to invest in future growth opportunities in comparison to operating on a stand-alone basis.
No. Both credit unions are committed to remaining member-owned, not-for-profit financial cooperatives. This merger will allow us to grow responsibly while staying true to our mission of putting members first.
This merger brings exciting opportunities, including:
More Locations: 40+ branches across Tennessee and Georgia, connecting the region for even greater convenience.
Enhanced Experience: Streamlined processes and better tools for personalized service. With more locations, enhanced products and services, and ongoing investment into evolving digital banking technology, member interaction with the combined credit union will be even more convenient.
Increased Innovation: Greater resources and combined expertise mean we develop innovative financial products and services, and other enhanced digital solutions.
Stronger Communities: Increased outreach programs, financial education, and local support.
Greater Stability: A stronger financial institution with more resources to serve you.
Pricing: A continued focus on offering competitive rates and delivering value back to our members.
And don’t worry, our friendly, knowledgeable staff will still be here to help you every step of the way.
For now, it’s business as usual. Members will continue to access their accounts, use their checks, and enjoy the same friendly service they’re used to at both credit unions.
As we move forward with the merger, some enhancements will roll out over time. We’ll keep you informed every step of the way, ensuring any updates are shared well in advance. Rest assured, our commitment to exceptional service and putting members first remains our top priority.
The rates on fixed-rate loans and certificates will remain the same through the end of their existing terms. Other rates may adjust over time based on market conditions, as they do today.
Yes. Member deposits will continue to be federally insured by the National Credit Union Share Insurance Fund (NCUSIF), up to applicable limits. Information regarding NCUA insurance, and a calculator to help determine your coverage, is available at www.mycreditunion.gov/estimator.
We are glad to hear you're a member of both credit unions! For now, it's business as usual, and you can continue using your accounts as you always have.
We are committed to ensuring a seamless experience for all members. As we move closer to the merger date, we'll provide clear and timely updates to guide you through the transition and support you every step of the way.
This partnership brings exciting opportunities for our employees. Both organizations are committed to maintaining a workplace that rewards, recognizes, and supports our teams. Employees will benefit from the combined resources, career development opportunities, and expanded support systems.
As we merge, we are expanding our family, not reducing it. We are thrilled to retain all current team members as we move forward together, building a stronger, more resilient culture with our people at the center of everything we do. Throughout the process, we remain focused on supporting our talented teams to ensure continuity in the exceptional service you expect.
Matt Jernigan, Ascend’s president and CEO, will lead the combined organization. Chris Leggett, president and CEO at LGE, will be retained in an executive role after the merger.
The combined credit union will be called Ascend Federal Credit Union. LGE will retain its name during the transition until the core system conversion of the combined organization is completed.
We’re still in the early stages. To complete the merger process, we must receive approval from three sources: our Boards of Directors, our regulators, and LGE members. Here’s a tentative timeline:
April 2026: The boards of both credit unions approved and signed a merger agreement.
We are now in the process of submitting a merger application to the regulators for approval before an LGE member vote can occur.
Q4 2026: Special Meeting/Member vote for LGE members anticipated.
We expect to complete the legal merger in late Q4 2026/early Q1 2027, with operational integration continuing throughout 2027. Rest assured, we are committed to keeping you informed throughout the entire process.
We’re committed to keeping you informed along the way. As the process continues, Ascend will share important notices, dates, and events. If you do have any questions, please email memberservice@ascend.org.
This partnership is about creating a credit union that’s even more capable of serving you and our communities. Thank you for your trust and support as we embark on this exciting journey together!