"This merger will provide members of both credit unions with an expanded service area that provides branches and ATMs along the I-95 corridor and beyond," stated Doug Samuels, Space Coast Credit Union's President and CEO.
"We are also 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.
Samuels stated, "Both credit unions have grown up with Florida, EFFCU with Eastern Airlines starting in 1937, and Space Coast Credit Union, which began in 1951 as Patrick Air Force Base Credit Union serving employees of the Space Program.
We both know how to serve members in a friendly and convenient way."
further stated, "The two credit unions have a common purpose in serving the working families of Florida.
This is a partnership of two like organizations who both grew up along with the communities they serve, and have been strongly committed to branching in order to meet the needs of the members.
"In fact," stated Samuels
, "some of the similarities are uncanny.
As Doug Samuels
explained, "Although the credit union has merged with a few smaller credit unions in its 57-year history, growth has been achieved through continuous improvement and expansion of the services offered to members.
We were honored to have been approached several months ago to discuss the possibility of combining the two credit unions.
What was of interest were our operating efficiencies, our strong member base, and our branch and member service offerings.
We felt that blending the two together would create a significantly stronger credit union to improve the value delivered to the members of both credit unions."
"Ultimately, this merger will provide greater convenience and an expanded product and service selection to the members of both credit unions," stated Samuels