07 Jun. 2012

By 1970, the Company employed a total of 70 employees. In 1972, Founder Ben F. Cheek, Jr. resigned as President of the Company turning over the reigns to son, Ben F. Cheek, III. Ben Cheek, Jr. maintained an active role as Chairman of the Board until his death in 1988. In order to reinsure credit insurance written by the Company, the decision was made to form its own insurance company. This resulted in the formation of Frandisco Life Insurance Company in 1977. 1979 was a year of big change when the Company moved from manual to computer loan processing. By the end of the 70’s, loans were being served out of 49 branches in Georgia, and investment sales had reached $14.8 million through 2500 investment customers.