SFB Customers Get Letter on Oconee Federal Merger

A letter sent to Stephens Federal Bank customers provides details about the merger between the Toccoa bank and Oconee Federal Savings and Loan.

That letter, which was also posted on the bank’s website, states that the merger transaction was finalized in early December.

It goes on to say that the system integration will take place over the weekend of January 16, 2015.

At that time, Stephens Federal’s three existing office locations will be converted to Oconee Federal branches.

The letter goes on to say that Stephens Federal customers will receive a booklet containing more information about the conversion.

In the letter, bank officials say that “other than new signs over the door, we assure you that will you see very few changes as an Oconee Federal customer.”

It was announced in February that Oconee Federal Financial Corporation had reached an agreement to acquire Stephens Federal Bank.

Oconee Federal Financial Corporation is the holding company for Oconee Federal Savings and Loan Association.

Oconee Federal Savings and Loan operates from its administrative offices in Seneca, South Carolina with four other branches in Oconee County, South Carolina.