The board of Gulf Power Company Employees Credit Union (GPCECU) recently voted to enter into a partnership agreement with Florida State University (FSU) Credit Union to merge later this year. The merger is pending regulatory approval and a special GPCECU membership vote.
“The board and management of GPCECU are excited about the partnership with FSU Credit Union,” said Anita Cooper, President/CEO of GPCECU. “Combining our institutions will allow the credit union to continue our premier service while offering more products and services to GPCECU members as well as open up new lending opportunities to the membership.”
GPCECU, with $46 million in assets and 3,259 members, currently has two branch locations in Pensacola, Fla., and one in Panama City, Fla., with membership limited to individuals affiliated with Gulf Power Company or NextEra Energy, which purchased Gulf Power Company in 2018. FSU Credit Union, with an asset size of $223 million, serves nearly 26,000 members through seven locations in Tallahassee, Fla., Crawfordville, Fla., and Perry, Fla. Membership to FSU Credit Union is open to Florida State University alumni living anywhere in the U.S. and anyone who lives or works in Bay, Calhoun, Escambia, Franklin, Gadsden, Gulf, Holmes, Jackson, Jefferson, Leon, Liberty, Okaloosa, Santa Rosa, Taylor, Wakulla, Walton, or Washington counties.
“The partnership between GPCECU and FSU Credit Union will not only translate to additional products and opportunities for GPCECU members, but will also secure a brighter financial future for FSU Credit Union, allowing us to enhance our services for current members and expand to serve the Pensacola and Panama City communities,” commented FSU Credit Union President/CEO Chuck Adcock.