TULLAHOMA, Tenn.— Two large credit unions are planning to merge in a deal that would create a roughly $7-billion institution.
The proposed merger would bring together Tullahoma-based Ascend FCU, which has more than $4.7 billion in assets, and LGE Community Credit Union, based in Atlanta, and has approximately $2.3 billion in assets.
“This partnership is rooted in responsibility and care,” said Chris Leggett, president and CEO of LGE Community Credit Union. “By coming together, we can strengthen our ability to support members and communities while staying true to the principles that have guided us for decades.”
“Both organizations share a deep commitment to member‑first service and community impact,” said Ascend President and CEO Matt Jernigan. “This planned merger allows us to build on those strengths with intention, ensuring we continue to serve people with clarity, care, and purpose — today and into the future.”
If approved, the combined organization would serve more than 390,000 members across Tennessee and Georgia, with approximately 950 employees and more than 40 branch locations.
Both organizations said they are committed to retaining all employees.
Following completion of the merger, the combined organization would retain the Ascend Federal Credit Union name, with Matt Jernigan serving as president and CEO. Chris Leggett would transition into an executive role with the combined credit union, the organizations stated.
The merger’s expected legal effective date is late Q4 2026/early Q1 2027, with systems integration extending into 2027.