Tallahassee, Fla. – The board of Florida Department of Transportation Credit Union (FDOTCU) recently voted to enter into a partnership agreement with Florida State University (FSU) Credit Union to merge in early 2022. The proposed merger has received preliminary approvals from the National Credit Union Administration and the Office of Financial Regulation and is pending a special FDOTCU membership vote.
“The board and management of FDOTCU are pleased to announce our partnership with FSU Credit Union,” said Kevin Keith, President/CEO of FDOTCU. “Combining our institutions will allow the credit union to continue our exceptional member service while expanding product and service options to FDOTCU members.”
FDOTCU, with $58 million in assets and 3,204 members, currently has two branch locations in Tallahassee, Fla., and Lake City, Fla. FSU Credit Union, with an asset size of $326 million, serves nearly 29,000 members through nine locations in Tallahassee, Fla., Crawfordville, Fla., Perry, Fla., Panama City, Fla., and Pensacola, Fla. The special member vote is scheduled for December 17, 2021, with an expected effective merger date of January 1, 2022.
“The partnership between FDOTCU and FSU Credit Union will not only provide new products and services to FDOTCU members but also keeps FSU Credit Union on our path of growth, allowing us to continue to enhance and broaden our member offerings,” commented FSU Credit Union President/CEO Chuck Adcock.
In 2020, FSU Credit Union merged in GPCE Credit Union, which expanded FSU Credit Union’s branch footprint to Pensacola and Panama City. Membership to FSU Credit Union is open to the Florida State University community 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, and following the merger with FDOTCU, will also include Columbia county.
For more information, contact Jessie Watson at 850-224-4960, ext. 1020 or 850-544-2901.