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News Now

CU System
Members OK large Florida merger
TAMPA and LAKELAND, Fla. (9/23/10)--Members of Bay Gulf CU, Tampa, approved a merger into MidFlorida CU, in Lakeland, Fla., at a Friday meeting. Bay Gulf member voters cast 92% in favor of the merger, which was approved by regulators last month (Tampa Bay Business Journal Sept. 21). The merger of assets will occur Oct. 1, but the merger of account records--which will allow Bay Gulf members access to MidFlorida’s products and services--will not take place until early 2011, the Journal said. Operating under the MidFlorida name, the combined organization will have assets of $1.55 billion and nearly 150,000 members. “The decision to merge was not an easy one, but our board felt like the products, services and customer service offered by MidFlorida would benefit Bay Gulf's membership,” Bill DeMare, Bay Gulf president/CEO, said in June. He noted that MidFlorida also is open extended hours from 7 a.m. to 7 p.m., which would benefit Bay Gulf members (News Now June 16).


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