MERRITT ISLAND, Fla.–Two large Florida credit unions are proposing a merger that will stretch from one coast of the state to the other.
The $1.43-billion Launch Credit Union on Florida’s east coast is seeking to merge into the $19.6-billion Suncoast Credit Union in Tampa on the state’s west coast.
Launch Credit Union, so named after originally being chartered as Kennedy Space Center FCU, has 37,000 members and 17 branches in Brevard and Volusia counties.
Suncoast Credit Union, the largest CU in Florida, has more than 1.3 million members and 79 branches. The proposed merger is subject to regulatory approval and a vote of the Launch Credit Union membership. The combined CU under the Suncoast brand would have approximately 3,000 employees.
Both credit unions are profitable. Launch Credit Union posted $7.69-million in net income for 2025, with net worth of 9.21%. Suncoast Credit Union had $215 million in net income, with net worth of 10.22%.
If approved, the merger is expected to take effect in late 2026, with full operational integration continuing into 2027. Officials emphasized that there will be no job losses or branch closures as a result of the merger.
Johnson to Lead Combined CU
Under the proposed leadership structure, Kevin Johnson, president and chief executive officer of Suncoast Credit Union, would lead the combined organization. Joe Mirachi, president and CEO of Launch Credit Union, plans to retire following completion of the merger.
“Our organization is strong, and this merger is a choice to grow from that position of strength,” Mirachi said in a statement. “Bringing our two credit unions together allows us to invest further in our employees, deepen service to our members, and extend our cooperative mission while investing more in the communities we serve.’
‘Ideal Partner’
Added Johnson in a statement. “With Launch Credit Union, we found an ideal partner that shares our values, financial strength, and dedication to communities. Together, we’re ensuring members today—and those we’ll serve in the future—benefit by growing together coast to coast.”
