Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
MidFlorida CU to acquire Space Coasts Tampa branches
LAKELAND, Fla.  (12/13/11)--MidFlorida CU, based in Lakeland, Fla., announced it will assume the Tampa Bay-area branches, assets and membership of SpaceCoast CU (SCCU), Melbourne, Fla., pending approval from regulators and members.

The move represents a small portion of SCCU's branch network and is viewed as a spinoff rather than a merger, said FloridaToday.com (Dec. 12) and TheLedger.com (Dec.9).

MidFlorida will take over six SCCU branches, three in Pinellas County and three in Hillsborough County. It already had expanded into the Tampa area last year with a merger withTampa-based Gulf CU, said The Ledger.

SCCU President/CEO Doug Samuels said the action is the result of the credit union's evaluation of how to serve its Tampa-area members. The options were to invest heavily in an expansion of the existing branch network or to seek a partner who would commit to developing this area, he told local media.

MidFlorida CU plans to retain existing staff. The membership vote is expected to be finalized March 31.  If approved, the spinoff would be completed on July 1.


RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
10 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
15 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
16 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
16 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
16 hours ago