Planned Partnership

A Thoughtful Step Forward

Planned Partnership Between Ascend Federal Credit Union and LGE Community Credit Union

For more than 75 years, Ascend Federal Credit Union and LGE Community Credit Union have been guided by a shared purpose: to serve people, strengthen communities, and earn the trust placed in us by our members.

With that responsibility in mind, Ascend and LGE have announced plans to merge later this year, pending regulatory approval and a vote by LGE members. This planned partnership brings together two credit unions founded on the same principle – people helping people – and reflects a thoughtful step forward in how we continue to serve our members.

As we share this news, we want to be clear about what this partnership means for you – and what will remain the same.

Read the Press Release

FAQs

• What does this merger announcement mean?
  

  This announcement marks an exciting step forward as LGE Community Credit Union and Ascend Federal Credit Union plan a strategic merger, pending regulatory and member approval.

  This partnership is about strengthening how we serve you — bringing together two strong, community-focused credit unions to further our mission of people helping people and creating even greater value for our members.

  Together, we’ll expand our reach, enhance our products and services, and create new opportunities for members and employees while preserving our shared values and dedication to the communities we serve.

• Why are we merging?
  

  Strategic mergers – or merger of peers - offer a unique opportunity to combine strengths, expand our impact, and adapt to the evolving financial landscape. By coming together, we can unlock value for members, provide better tools and resources for employees, and strengthen our community initiatives.

  This is a true partnership, not an acquisition or takeover. Both organizations are uniting, with a shared vision to better serve our members and communities. This merger represents another way to grow, allowing us to pool resources, leverage our collective expertise, and expand opportunities for innovation and service excellence. By working together, we can achieve more than either of us could on our own.

• Why Ascend Federal Credit Union?
  

  Ascend was chosen for its deep roots in its communities, longstanding tradition of member-first service, financial stewardship, and dedication to employees. It exemplifies excellence in serving members and fostering a positive workplace culture. This strong alignment of values makes them an ideal partner for this next chapter.

  Originally founded 75 years ago, Ascend is a federally chartered credit union based in Tullahoma, Tennessee, with more than 265,000 members, $4.7 billion in assets, and 600+ employees serving members with 28 locations across the state.

• Why an out of state credit union?
  

  Organizations in different geographies choose to merge because their differences are complementary, not competitive. By combining strengths, expertise, and resources from distinct markets, both organizations can expand our collective reach, improve long-term stability, and better serve our members. Geographic diversity also reduces concentration risk, creates new growth opportunities, and allows best practices from each region to be shared and scaled across the combined organization.

  Just as important, this partnership represents and respects the strong local pride that employees and members have in their communities. Each geography brings its own history, culture, relationships, and way of serving members—these are assets, not obstacles. Being “United in Purpose, Focused on Service” does not mean losing local identity; it means preserving what makes each organization unique while creating a stronger, more resilient future. The goal is to be a combined organization that honors local roots, empowers employees in every market, and leverages regional strengths to create greater impact for all.

• Do both credit unions support this merger partnership?
  

  Absolutely. Both boards of directors enthusiastically support the merger and are excited about the opportunities it brings for growth and enhanced benefits for everyone involved.

• What would this partnership mean for the credit unions?
  

  This partnership brings together two strong organizations with a shared commitment of supporting the financial wellbeing of our members, with approximately 950 employees and more than 40 branch locations across Tennessee and Georgia, serving more than 390,000 members.

  The combined organization offers a stronger, deeper leadership team, improved stability of business and earnings, and the ability to provide enhanced products, services, and technologies that could facilitate enhanced operational performance, strategic growth, and risk management for the combined institution.

  The combined credit union also will have increased resources to invest in future growth opportunities in comparison to on a stand-alone basis.

• Does this merger mean we will operate like a big bank?
  

  No. Both credit unions are committed to remaining member-owned, not-for-profit financial cooperatives. This merger will allow us to grow responsibly while staying true to our mission of putting members first.

• What are the member benefits?
  

  This merger brings exciting opportunities, including:

  • More Locations: 40+ branches across Tennessee and Georgia, connecting the region for even greater convenience.
  • Enhanced Experience: Streamlined processes and better tools for personalized service. With more locations, enhanced products and services, and ongoing investment into evolving digital banking technology, member interaction with the combined credit union will be even more convenient.
  • Increased Innovation: Greater resources and combined expertise mean we develop innovative financial products and services and other enhanced digital solutions.
  • Stronger Communities: Increased outreach programs, financial education, and local support.
  • Greater Stability: A sound financial institution with more resources to serve you.
  • Pricing: A continued focus on offering competitive deposit and loan rates and delivering value back to our members.

  And don’t worry, our friendly, knowledgeable team members will still be here to help you every step of the way.

• What changes will members experience?
  

  For now, it’s business as usual. Members will continue to access their accounts, use their checks, and enjoy the same friendly service they’re used to at both credit unions.

  As we move forward with the merger, some enhancements will roll out over time. We’ll keep you informed every step of the way, ensuring any updates are shared well in advance. Rest assured, our commitment to exceptional service and putting members first remains our top priority.

• Would my rates change?
  

  The rates on fixed-rate loans and certificates will remain the same through the end of their existing terms. Other rates may adjust over time based on market conditions, as they do today.

• Would my accounts continue to be federally insured?
  

  Yes. Member deposits will continue to be federally insured by the National Credit Union Share Insurance Fund (NCUSIF), up to applicable limits. Information regarding NCUA insurance, and a calculator to help determine your coverage, is available at www.mycreditunion.gov/estimator.

• What if I have an account at both credit unions already?
  

  We are glad to hear you're a member of both credit unions! For now, it's business as usual, and you can continue using your accounts as you always have.

  We are committed to ensuring a seamless experience for all members. As we move closer to the merger date, we'll provide clear and timely updates to guide you through the transition and support you every step of the way.

• What does this mean for employees?
  

  This partnership brings exciting opportunities for our employees. Both organizations are committed to maintaining a workplace that rewards, recognizes, and supports our teams. Employees will benefit from the combined resources, career development opportunities, and expanded support systems.

  As we merge, we are expanding our family, not reducing it. We are thrilled to retain all current team members as we move forward together, building a stronger, more resilient culture with our people at the center of everything we do. Throughout the process, we remain focused on supporting our talented teams to ensure continuity in the exceptional service you expect.

• Who will lead the newly combined credit union?
  

  Matt Jernigan, Ascend’s president and CEO, will lead the combined organization. Chris Leggett, our president and CEO at LGE, will be retained in an executive role after the merger.

• Who is Matt Jernigan?
  

  Matt has more than 20 years of experience in the credit union industry. His leadership journey at Ascend began in 2005 when he was hired as an internal auditor. After holding multiple leadership roles, he was selected as CEO in 2023. Matt is a strong advocate for financial well-being programs that empower members to achieve long-term financial success. He has driven efforts to introduce small-dollar, short-term loans as an alternative to predatory payday lenders, launched a credit score monitoring program for members, and established financial health checkups that provide personalized counseling and support.

  Matt is deeply committed to community service and the credit union movement. In 2025, Ascend was voted as the best credit union by multiple local outlets and has received multi-year recognition as a top-contributing credit union to America's Credit Unions. He also serves on the Hospital Advisory Board for the Monroe Carell Jr. Children's Hospital at Vanderbilt and is a Trustee for The Nature Conservancy of Tennessee.

• What will the name of the combined credit union be?
  

  The combined credit union will be called Ascend Federal Credit Union. LGE will retain its name during the transition until the core system conversion of the combined organization is completed.

• Will LGE lose its identity as a result?
  

  Absolutely not. This is a merger of peers, and as we move through the process, we have adopted a “best practices” approach, meaning we’ll incorporate the best of both worlds. While the name will change, the service and commitment you’ve come to expect will remain best in class.

• What is the timeline?
  

  To complete the merger, we must receive approval from three sources: our Boards of Directors, our regulators, and LGE’s members. Here’s the current timeline:

  • April 2026: The boards of both credit unions approved and signed the merger agreement.
  • August 2026: Regulators approved the merger application.
  • September 22 – November 9, 2026: Member voting period for LGE members.
  • November 9, 2026: LGE Special Meeting to conclude member voting.
  • January 1, 2027: Target legal merger date, pending member approval.
  • Q1 2028: Target operational integration – date all of our systems are combined

  We’re in the early stages of planning operational integration, and we are committed to keeping you informed every step of the way.

• Who gets to vote on the merger?
  

  Any individual LGE member as of June 30, 2026 will have the opportunity to vote on the merger.

• When and how will members receive ballots to vote?
  

  Members will receive either an electronic ballot by email or a paper ballot in the US mail, depending on their communication preferences. Voting packets will be emailed or mailed September 22nd to all eligible members.

• How will members vote?
  

  Members will be able to vote by:

  1. Using the online election URL https://lgeccu.cuballot.com/ to vote electronically, or
  2. Returning their ballot using the pre-paid postage envelope provided, to CU Ballot, the independent third party conducting the vote, or
  3. Bring their ballot to the Special Meeting to submit when votes are called.
• What if a member loses a ballot?
  

  Members who lose their ballot are encouraged to vote online at https://lgeccu.cuballot.com/. If a member would like to receive a new paper ballot, they can contact CU Ballot directly at 800-969-9153 and CU Ballot will send them a new ballot.

• What if I want a paper ballot instead of voting electronically?
  

  Members who wish to receive a paper ballot instead of voting electronically can contact CU Ballot directly at 800-969-9153 and CU Ballot will send them a new ballot. Paper ballots should be returned using the pre-paid postage envelope provided, to CU Ballot, the independent third party conducting the vote, or brought to the Special Meeting to submit when votes are called.

• Can members turn in their paper ballots at an LGE branch?
  

  No. We have hired CU Ballot, an independent third party, to validate and tabulate member votes. If a member chooses to mail their ballot instead of voting electronically, they should use their postage-paid return envelope provided with the notice and personally send it to CU Ballot.

• How will members identify themselves to vote online?
  

  Members may enter their account number or unique election ID, which will be printed on their ballot along with the last four digits of their social security number to vote online.

• How can a member find their account number, if they don't know it?
  

  Members can find their account number within digital banking, on their personal checks, by contacting us at 770-424-0060, or by visiting a LGE branch.

• What if a member doesn't vote?
  

  A non-vote is neither a ‘yes’ nor a ‘no’ vote. Only returned ballots will be counted.

• Can members who join LGE during the election vote?
  

  No. Any member who joins the credit union after June 30, 2026, will NOT be eligible to vote.

• Is voting anonymous?
  

  Votes will remain anonymous to both credit unions; however, CU Ballot, the third party handling the tally, requires member data to verify eligibility.

• When will the results be announced?
  

  Voting results will be announced at the culmination of the special meeting on November 9, 2026, then as soon as possible after that via press release, and other announcement channels.

• When will the merger officially take effect?
  

  Pending member approval, the merger is expected to legally become effective January 1, 2027, when LGE Community Credit Union will become a division of Ascend Federal Credit Union. The targeted operational integration is planned for Q1 2028, when both credit union systems are expected to be fully integrated.

• When will my accounts or services change?
  

  For now, there are no changes to how you bank today. Your accounts, digital banking, and the services you use will remain the same. As we work toward operational integration, we’ll keep you informed and provide updates well in advance of any future changes that affect how you bank.

• Who can I contact with questions?
  

  If you have questions during this period, please reach out to us at ContactCenterMailbox@LGEccu.org and our member support team will be happy to help.

• How will I be kept informed?
  

  We’re committed to keeping you informed along the way. As the process continues, LGE will share important notices, dates, and events. If you do have any questions, please email ContactCenterMailbox@LGEccu.org. 

  This partnership is about creating a credit union that’s even more capable of serving you and our communities. Thank you for your trust and support as we embark on this exciting journey together!