CLARKSVILLE, TN – Fortera Credit Union has completed its merger with Life Credit Union, effective April 1.
As a subsidiary of Fortera, Life Credit Union will operate as Life Credit Union, Powered by Fortera. The combined entity will have $766 million in assets and serve more than 73,000 members worldwide. Operational integration among the credit unions is expected to be complete by Dec. 31.
“Life Credit Union’s journey began 64 years ago. In 1958, nine employees of Nashville’s Baptist Hospital had an idea: to create a financial cooperative that would serve the unique needs of employees in the healthcare industry. Through the years, we have grown and built lifelong relationships with our members,” said Bubba McIntosh, chairman of Life Credit Union’s Board of Directors.
“As we look to the future, a partnership with Fortera aligns seamlessly with Life’s mission and culture while offering the resources and stability of a premier financial institution. We have tremendous confidence in the value it provides to our members and look forward to strengthening our legacy together.”
McIntosh is slated to continue his involvement while serving as member of the Fortera Credit Union Board of Directors.
The partnership allows Life Credit Union to maintain its brand identity and offers an alternative to the traditional merger process.
“Change is inevitable, but Fortera believes there are some things that should always remain constant. These core values are the tenants of who we are as an organization. Just as we stand behind the authenticity of Fortera’s brand, we believe in upholding the same for Life Credit Union. Life will keep its name, branch location and the same familiar staff. Our ‘powered-by’ partnership enhances Life’s operational and competitive strengths while honoring the heritage and relationships it will continue to build,” said Rick Hackwell, chairman of Fortera Credit Union’s Board of Directors.
With over $41 million in assets, Life Credit Union was established to serve the employees and their families of Baptist Hospital, and later expanded its field of membership to include anyone who works in or for the healthcare industry in Middle Tennessee, including the counties of Davidson, Cheatham, Robertson, Rutherford, Sumner, Williamson and Wilson. Life CU has grown in its 64-year history to serve the financial needs of over 3,900 members and is located in the Midtown Medical Plaza at 2004 Hayes Street, Suite 120, Nashville, TN.