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About Achieva: Achieva Credit Union was founded in 1937 as Pinellas County Teachers Credit Union. It currently has approximately $850 million in assets and thirteen branches serving over 90,000 members. Anyone who lives or works in these Florida counties: Pinellas, Pasco, Hernando, Manatee, Sarasota, Charlotte or in these Hillsborough county zip codes: 33556, 33558, 33607, 33614, 33615, 33618, 33624, 33625, 33626, 33634, 33635; or whose family member has an Achieva Credit Union account, can bank with us. For more information, please contact Dawn Dixon at (727) 431-7360.
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Achieva, Sarasota Coastal Credit Unions Start Initial Talks on Possible Merger
5/4/2009 12:00:00 AM
CLEARWATER, FL (May 4, 2009) – Achieva Credit Union and Sarasota Coastal Credit Union have begun initial discussions to discuss the feasibility of a merger of the two companies, following a due diligence review that starts this week.
“Sarasota Coastal Credit Union is a fine credit union with excellent leadership and loyal members,” said Gary Regoli, President and CEO of Achieva Credit Union. “Our credit unions have similar values and philosophies that would make for a strong partnership.”
Combining the assets of the two organizations would allow for market efficiencies and the benefits of a larger asset base. Achieva currently serves Pinellas, Pasco, and Hernando counties. Sarasota Coastal Credit Union serves Manatee, Sarasota, and Charlotte Counties. The combined assets of the two organizations would be in excess of $800 million.
“We are constantly looking for ways to strengthen our offering to our members,” said Tom Randle, who has been the President of Sarasota Coastal Credit Union for nearly 20 years. “During these tough economic times, we need to be looking at mutually beneficial partnerships with strong, like-minded organizations like Achieva.”
The merger will have to be approved by both the OFR and the NCUA and could be completed by the end of September.
About Achieva Credit Union: Achieva Credit Union is a $650 million credit union headquartered in Clearwater, FL, with over 65,000 members at six branches in Pinellas County and one in Pasco County.
About Sarasota Coastal Credit Union: Sarasota Coastal Credit Union is a $235 million credit union headquartered in Sarasota, FL, with over 25,000 members at five branches in Sarasota County.
