Credit Union of Georgia

The Credit Union of Georgia was founded in the 1960s, and was originally a federal credit union offering credit to different educational groups, school systems, private schools, colleges and universities. The cooperative was initially named MACO Educators Federal Credit Union and was changed into its present name after being converted into a state chartered institution, opening its membership to other organizations. MACO stands for Marietta City and Cobb County school systems, and the union's management explains that the expansion of the institution to other school systems necessitates the name change.

Like other credit unions in Georgia, CUG works by offering loans accumulated from the savings of the union members. Membership is limited to students and employees in the union's list of eligible educational institutions. The minimum requirement for members is opening a saving account with an initial deposit of 10 dollars. Prospective members also have the option of opening checking accounts with a minimum of 25 dollars, high yield share and certificate accounts with 500 dollars, and money market accounts with 2,500 dollars initial deposit.

CUG is being managed by a board of directors elected by the members. The board of director assesses the union's financial status and progress to determine loan amount ceilings and design financial programs for its union members. Presently, the Credit Union of Georgia is being led by Cheryl Love.