Space Coast Credit Union and Eastern Financial Florida Credit Union to Merge

Space Coast Credit Union and Eastern Financial Florida Credit Union to Merge
April 28, 2009 – Randall C. Smith, Managing Editor

Just days after the NCUA assumed control of Eastern Financial Florida CU it was announced that the credit union would merge with $1.6 billion Space Coast Credit Union. Space Coast will also function as interim management for Eastern until the merger is complete.

Doug Samuels, Space Coast’s President and CEO, stated in a credit union release that “We are excited about being able to apply the operating efficiencies SCCU has built to the new, larger credit union, and ensure that the member-owners receive a good return on their investment in the cooperative.”

Post merger Space Coast Credit Union will have over 350,000 members, over $3 billion in assets, and more than 60 branches.

Read the full release on the Press Release page of CUiNSIGHT.com