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News Now

CU System
Pinellas FCU acquires POC FCU in merger
LARGO, Fla. (10/28/11)--Pinnellas FCU, Largo, Fla., has acquired the assets of POC FCU, St. Petersburg, Fla., in a merger.

The $82.6 million asset Pinellas added $500,000 in assets and roughly 650 members to its 12,554-member existing base from the merger with POC (Tampa Bay Business Journal Oct. 21).

The Aug. 31 merger is one of at least six credit union mergers in Florida so far this year, the Journal said.

In the U.S., between Jan. 1 and Sept. 29, there were 125 reported mergers, according to the National Credit Union Administration.

POC pursued a merge following the loss of its sponsorship from the Pinellas Opportunity Council--a network of 1,100 private nonprofit and public community action agencies, the Journal said.


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