LAKE MARY, Fla. and TALLAHASSEE, Fla.— Members of $847-million Envision Credit Union have approved a proposed merger with $3.8-billion Addition Financial Credit Union, the CUs reported in a joint release.
The membership vote, along with previous regulatory approval, paves the way for the legal merger to go into effect on Oct. 1.
Founded in 1937 and 1954 respectively, Addition Financial, based in Lake Mary, Fla., and Envision, based in Tallahassee, Fla., share similar histories and philosophies. Both credit unions were founded by educators and have grown into leading institutions known for their community impact and member-first approach, the CUs explained.
Once finalized, the combined organization will operate as Addition Financial Credit Union under the leadership of Kevin Miller, president and CEO of Addition Financial.
“On behalf of Addition Financial, I want to thank the Envision members for their support of this merger,” said Miller. “This is a historic moment for both credit unions and, most importantly, for our members. As we move forward in this new chapter, we are expanding our reach and creating new opportunities to improve members’ financial lives. Together, we will provide even greater value and continue our shared legacy of service.”
“For more than 70 years, Envision has been committed to providing trusted financial services and giving back to the communities we serve,” stated Darryl Worrell, president and CEO of Envision Credit Union. “By joining with Addition Financial, our members will benefit from a broader range of services, enhanced technology, and continued focus on the credit union philosophy of people helping people. We are proud of our journey together and excited for what lies ahead.”