The National Credit Union Administration (NCUA) announced that 1st Choice Credit Union of Atlanta, Georgia has merged into Hope Federal Credit Union of Jackson, Mississippi, effective immediately. Member services are expected to continue without interruption, and deposits remain protected by the National Credit Union Share Insurance Fund. Share insurance covers individual accounts up to USD 250,000, a member’s combined interest in all joint accounts up to USD 250,000, and IRA and KEOGH retirement accounts separately up to USD 250,000. The merger follows NCUA’s placement of 1st Choice Credit Union into conservatorship on 14 June 2024, in consultation with the Georgia Department of Banking and Finance, to address safety and soundness issues. At the time of the merger, 1st Choice Credit Union reported 7,637 members and USD 31 million in assets, while Hope Federal Credit Union reported 40,628 members and USD 739 million in assets, based on their most recent Call Reports.
National Credit Union Administration 2025-10-02
National Credit Union Administration announces immediate merger of 1st Choice Credit Union into Hope Federal Credit Union
The NCUA announced the merger of 1st Choice Credit Union into Hope Federal Credit Union, effective immediately, with uninterrupted member services and deposits protected by the National Credit Union Share Insurance Fund. The merger follows NCUA's conservatorship of 1st Choice due to safety and soundness issues. At the time of the merger, 1st Choice had 7,637 members and USD 31 million in assets, while Hope Federal had 40,628 members and USD 739 million in assets.