Reporter's Guide to
Georgia Credit Unions 2008

Georgia Credit Union Affiliates (GCUA) is the state trade association serving Georgia's credit unions and exists to assist credit unions in becoming the premier providers of financial services to consumers in Georgia. GCUA is a not-for-profit organization, governed by volunteer directors who are elected by their credit union peers. The organization represents 80 percent of credit unions in Georgia. The primary support organizations of GCUA include: Georgia Credit Union League, Cooperative Services, Inc. and Georgia Central Credit Union. GCUA provides a range of services to credit unions in Georgia.

Advocacy is the primary responsibility of GCUA, representing the interests of Georgia credit unions before legislators and regulatory agencies that govern credit union operations. In addition, GCUA works with credit unions to provide compliance information, education and business development assistance to member credit unions.

Assistance is provided to consumers interested in forming a credit union, and through our consumer Web site, individuals can determine their eligibility to join any of the over 180 credit unions in the state. For state, national and worldwide statistics about credit unions, view our Media Kit.

For an overview of GCUA’s accomplishments, view our Annual Reports.

Georgia Credit Union Affiliates
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
770-476-9625
800-768-4282
770-497-9534 (fax)
www.gcua.org

Mike Mercer, President/CEO
Ralph Jones, Executive Vice President
Cindy Connelly, Senior Vice President, Association Services
Michael D. Culbertson, Chief Advocacy Officer
Anita R. Paul, Director of Communications

The first credit unions were founded in Germany in the 1840s to provide savings and borrowing opportunities to working-class people. The guiding principles were simple and still govern most of the credit unions in the world today:

• Only people who were credit union members could borrow there.
• Loans should be for prudent and productive purposes.
• A person's desire to repay (character) would be considered as important as a person's ability to repay (income).

In Georgia, the credit union movement started when Edward A. Filene, a Boston merchant, visited Atlanta in 1922 and persuasively explained the need for credit unions. Later that year, Atlanta attorney E. Marvin Underwood drafted a state credit union bill, which was introduced in the Georgia General Assembly that year and each following year until it was passed in 1925.

Today, credit unions provide consumers a secure financial services alternative and help advance the economic well-being of all people, including those of modest means, through a system which is cooperative, member-owned, volunteer-directed, not-for-profit and therefore tax-exempt.

The National Credit Union Share Insurance Fund (NCUSIF) insures member deposits in credit unions up to the $100,000 federal limit. Administered by the National Credit Union Administration, the NCUSIF is backed by the "full faith and credit" of the United States Government.

When seeking comment from a credit union official, speak with the credit union President/CEO. At smaller credit unions, this person often holds the title of Manager and may also serve in another capacity, such as Treasurer. Credit union CEOs/Managers can usually be reached at the credit union office.

Georgia Credit Union Affiliates can provide reporters with statistics for credit unions in specific areas, the state as a whole or on a national level.

For more information, to arrange an interview with a credit union, or to speak with a credit union expert, contact the Georgia Credit Union Affiliates Public Relations Department. Learn more about how credit unions help Georgia consumers.

Georgia Credit Union Affiliates
6705 Sugarloaf Parkway, Suite 200
Duluth, GA 30097
770-476-9625
800-768-4282
770-497-9534 (fax)
www.gcua.org

Media Contacts:

Anita Paul
Director of Communications
Cindy Connelly
Senior Vice President, Association Services

Other Resources:

Credit Union National Association (CUNA)
National Credit Union Administration (NCUA)
NCUA Region III Office (Atlanta)
Georgia Department of Banking & Finance