The board of the Gulf Power Company Employees Credit Union voted to merge into Tallahassee-based Florida State University Credit Union. The merger is still subject to regulatory approval, which is expected by midyear. GPCECU members will also have to approve the deal.
“The board and management of GPCECU are excited about the partnership with FSU Credit Union,†Anita Cooper, president and CEO of GPCECU, said in a press release. “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.â€
GPECU has two branch locations, in Pensacola and Panama City, and serves about 3,200 members affiliated with Gulf Power Co. and NextEra Energy, which purchased Gulf Power in 2018.
“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,†Adcock said in a press release.