MERRITT ISLAND, Fla.—Two large Florida CUs—$1.4 billion Launch Credit Union here and $1.3 billion Community Credit Union of Florida, based in Rockledge—plan to merge, the Viera Voice reported.
The combined organization will serve more than 143,000 members with 22 branches in Brevard and Volusia counties.
Pending regulatory approval and a membership vote, the merger is expected to be approved in July 2025, the credit unions stated.
“This collaboration demonstrates the credit union philosophy of people helping people, because together our combined resources and shared commitment enable us to offer enhanced products and services to our members while maintaining the high level of personalized service our members have come to expect,” said Launch President/CEO Joe Mirachi, in the Viera Voice report.
Laurie Cappelli, the president/CEO of Community Credit Union, stated the merger “will create a stronger, more resilient financial institution” dedicated to excellence, Viera Voice said.
Like-Minded
“We’re definitely very like-minded,” Cappelli said. “We’re committed to our members, committed to our employees and committed to our communities. So, we’re very excited about this new partnership and our new future.”
After the merger’s anticipated approval next summer, Mirachi will become the combined credit union’s president/CEO. Cappelli will retire and serve as a consultant during the merger process, Viera Voice said.
A name for the new credit union has not been chosen yet, Mirachi said. A branding firm likely will be hired to determine the name, he said, Viera Voice noted.