Georgia's Own Credit Union announced CEO Charlotte S. Ayers is retiring after 11 years as President and CEO. David Preter, previously EVP of the organization, has been named the new President and CEO.

Georgia's Own Credit Union has 23 branches throughout the state, including in Conyers, and assets over $1.5 billion.

Ayers, a professional with a 41-year career with the organization, is credited with transforming the 76 year old financial institution from $600 million in 1999 when she was named President and CEO to over $1.5 billion today.

Under Ayers' leadership, the credit union's membership soared from 79,000 to close to 160,000, and its service area increased to include all of metro Atlanta, as well as parts of Savannah and Augusta. Ayers was also responsible for a significant branding transition over three years ago, which set the stage for greatly increased prominence in the marketplace. A testament to Ayers' direction is the organization's strong capital position despite a tumultuous economy. According to Ayers, "Georgia's Own has maintained capital levels far beyond what regulators consider 'healthy,' and most importantly, has been able to preserve its members' assets and continued to lend in a time when other organizations have scaled back significantly."

Ayers told the board that her retirement is part of a transition process that she initiated in 2008 to ensure that Georgia's Own continues to have a strong leadership team going forward. As part of that transition, David Preter, previously EVP of the organization, has been named President & CEO.

"It has been a wonderful 41 years," Ayers said. "I am extremely proud of all that the Georgia's Own team has accomplished. When I became President & CEO in 1999, I pledged that we would be a beacon of social responsibility, the industry leader in terms of growth and service, and provide unmatched value to our membership . . . and I believe we have succeeded in all of those goals."

"Charlotte's legacy will be building one of the most trusted financial institutions in the state," said Georgia's Own Credit Union Chairperson of the Board Joseph Mauriello. "She's a transformational leader and a person of great integrity. She has not only worked closely with the Board of Directors and management team to develop innovative, convenient, and value-packed products and services to the members of Georgia's Own, she has also profoundly influenced the credit union movement over the past 41 years - locally, nationally and internationally."

Georgia's Own was founded in 1934 by a group of telephone employees with an initial investment of $160. Since that time, the Credit Union has grown to be one of the largest Credit Unions in the state with assets over $1.5 billion and membership over 148,000. In addition, it serves the employees of more than 430 sponsor companies.