Credit unions combine; assets top $600 million

SARASOTA — Sarasota's West Coast Federal Employees Credit Union merged with Tampa's USF Federal Credit Union.

The merger allows USF Federal Credit Union to deliver its financial products and services to members in Sarasota and Manatee counties. The combined institutions have more than $600 million in total assets and over 62,000 members, according to a press release.

“This partnership is a perfect example of how credit unions, working together, can find innovative opportunities to improve the products and services for all members,” says West Coast Federal Employees Credit Union President Marie Peet in a statement. “The boards of directors and executive teams from both credit unions are excited to see this partnership transpire.”

The 12 current West Coast Federal Employees Credit Union employees will become employees of USF Federal Credit Union. USF Federal Credit Union has branches in Tampa, New Tampa, St. Petersburg and Brandon. It has about 150 employees.

The National Credit Union Association approved the merger, effective July 1. The transition of the Sarasota branches to USF Federal Credit Union will take a few months, according to a press release.