The combined entity will have $766 million in assets and serve more than 73,000 members worldwide. Operational integration among the credit unions is expected to be complete by December 31, 2022.
“Life Credit Union’s journey began sixty-four years ago. In 1958, nine employees of Nashville’s Baptist Hospital had an idea: to create a financial cooperative that would serve the unique needs of employees in the healthcare industry. Through the years, we have grown and built lifelong relationships with our members. As we look to the future, a partnership with Fortera aligns seamlessly with Life’s mission and culture while offering the resources and stability of a premier financial institution. We have tremendous confidence in the value it provides to our members and look forward to strengthening our legacy together,” said Bubba McIntosh, Chairman of Life Credit Union’s Board of Directors.
McIntosh is slated to continue his involvement while serving as a member of the Fortera Credit Union Board of Directors.
The unique partnership allows Life Credit Union to maintain its brand identity and offers an alternative to the traditional merger process.
“Change is inevitable, but Fortera believes there are some things that should always remain constant. These core values are the tenants of who we are as an organization. Just as we stand behind the authenticity of Fortera’s brand, we believe in upholding the same for Life Credit Union. Life will keep its name, branch location and the same familiar staff. Our ‘powered-by’ partnership enhances Life’s operational and competitive strengths while honoring the heritage and relationships it will continue to build,” said Rick Hackwell, Chairman of Fortera Credit Union’s Board of Directors.
With over $41 million in assets, Life Credit Union was established to serve the employees and their families of Baptist Hospital, and later expanded its field of membership to include anyone who works in or for the healthcare industry in Middle Tennessee, including the counties of Davidson, Cheatham, Robertson, Rutherford, Sumner, Williamson and Wilson.
Life CU has grown in its 64-year history to serve the financial needs of over 3,900 members and is located in the Midtown Medical Plaza at 2004 Hayes Street, Suite 120, Nashville, TN.
Originally chartered in 1954 to serve families of the United States Army Base at Fort Campbell, Kentucky, Fortera Credit Union expanded as a full-service financial cooperative and now serves the primary regions of Davidson, Cheatham, Robertson, Rutherford, Sumner, Williamson, Wilson, Montgomery, Stewart, Chester, Decatur, Lewis, McNairy, and Perry Counties in Tennessee and Christian, Trigg, Todd, McLean and Webster counties in Kentucky, as well as other counties in Tennessee, Kentucky, Alabama, and Arkansas.
Through its multiple common bond charter, membership eligibility is available to anyone who:
- lives, worships or attends school in one of Fortera’s service regions;
- joins an affiliate partner;
- or is an immediate family member of a Fortera member.
Headquartered in Clarksville, TN, Fortera has more than 70,000 members worldwide and over $725 million in assets.
*Pictured in photo from left to right: Tom Kane/CEO, Fortera Credit Union, Pam Nolan/CEO, Life Credit Union and Jennifer Ventimiglia/President, Fortera Credit Union.