By Paul Bolster
Pinnacle, which opened a new branch on Glenwood in East Atlanta has announced plans to merge with Peach State Credit Union. The merger will provide members with additional services and branches throughout Georgia and parts of South Carolina. Pinnacle, founded by the Atlanta Public School System in 1926, has three branch offices while Peach State has 27 locations. The merger statements say that Pinnacle has $87 million in assets while Peach State has assets of $934 million. Both entities have focused on school system employees but due to changes in National Credit Union rules, they are now able to serve community members with no connection to school systems. The new entity will have combined assets of just over a billion dollars. According to Pinnacle CEO Matt Selke, the merger will give Pinnacle members “greater access to a wider selection of products and services” and remain competitive in the market place.
