Churches, GSB credit unions merge Aug. 1

Effective August 1, Churches Co-operative Credit Union and GSB Co-operative Credit Union will be merged to form First Heritage Co-operative Credit Union Limited.

The new entity will boast a combined membership of more than 165,000 and a combined asset portfolio of J$8.04 billion, thus strengthening its presence and clout in the financial arena, according to a press release.

“Both credit unions have a combined heritage of over 100 years and both survived the financial meltdown of the 1990’s”, said Basil Naar, CEO of Churches.

“We believe that the name First Heritage connotes our combined history and rich legacy of sound traditions, strong leadership and proven experience”, he added.

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