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Synovus

From Academic Kids

Synovus is a financial services company with over $21 billion in assets. It is centered mainly in the southeastern United States, although it has spread to other parts of the country. The company owns 40 banks.

Synovus began in the 1880's when a mill worker's dress got tangled in a piece of machinery. She commonly sewed her money inside her dresses, believing that this was the safest place for it. When her dress became entangled, it ripped and her savings came pouring out. The mill secretary/treasurer offered to keep the money in the mill safe and pay her monthly interest. He soon began to offer the service to all of the mill workers. The rest is history.

Today, Synovus is one of the largest and strongest financial institutions in the Southeast with more than 39 affiliate banks throughout Georgia, Florida, Alabama, South Carolina and Tennessee, along with its complementary lines of business which include investment management, trust, mortgage, and insurance, and a more than 81 percent ownership in TSYS, one of the world‘s leading processors of payment transactions.

Fortune magazine ranked Synovus #9 on its 100 Best Companies to Work For list in 2003. It is also a member of the S&P 500.

Synovus is headquartered in Columbus, Georgia.

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