Statement from HEMC Regarding Deposits with Community Bank & Trust
As the Vice President of Finance and Administration for Habersham EMC, it is my responsibility to keep track of all financial information and transactions for the co-op. I have been in this role for almost twenty years. I do not take this duty lightly. At HEMC, we do everything we can to protect and advance the interests of all our members. Our focus is keeping rates low and reliability high, and that guides all our decisions.
Recently, questions have been asked regarding HEMC deposits in Community Bank & Trust at the time the bank failed. HEMC did not lose one single penny when South State Bank took over Community Bank and Trust, and all co-op assets transferred to the new bank ownership group. HEMC never made any corporate investments in Community Bank and Trust. We had funds deposited there like many other businesses and individuals in this community, and those funds remained in place, safe and secure when the new bank took the lead.
Everyone at the EMC takes pride in what they do, and I am among them. We know we are in a position of trust, and we take our responsibility to our members very seriously.