Business
Gulf Winds Credit Union Rebrands as TruWorth, Acquires Madison County Community Bank
Pensacola-based credit union will become a $1.7 billion institution serving more than 87,000 members across Florida, Alabama and Georgia.
Gulf Winds Credit Union announced today that it will operate under a new name and identity, TruWorth Credit Union, as part of a broader growth push that also includes the acquisition of Madison County Community Bank (MCCB), a Madison, Florida-based community bank.
- The rebrand is expected to take effect in the Spring of 2027. The MCCB acquisition, structured as a definitive agreement between Gulf Winds and MCCB’s parent, Madison Community Bancshares Corporation, still requires approval from Bancshares shareholders, regulators, and standard closing conditions.
- Final regulatory approval is expected in mid-2027, with full integration targeted for the beginning of 2028.
By the numbers:
- Gulf Winds currently holds $1.3 billion in assets, 12 branches, and serves 74,000+ members across North Florida, South Alabama and South Georgia.
- MCCB adds roughly $200 million in assets and two branches, in Madison and Perry, Fla.
- Combined, the new organization is expected to top $1.7 billion in assets, operate 15 locations across Florida and Alabama, and serve more than 87,000 members.
“This new identity is about putting a name to what Gulf Winds and Madison County Community Bank have always believed: people come first,” said Daniel Souers, President and CEO of Gulf Winds.
MCCB’s president and CEO, D. Edward Meggs, Sr., framed the deal as continuity rather than a break from the bank’s roots, founded in 1999 by a group of Madison County residents. He said the move lets MCCB “carry the best” of its history forward while combining strengths with Gulf Winds.
New tagline: TruWorth Credit Union will be built around the promise “We See Your True Worth.”
- Gulf Winds is being advised by CEO Advisory Group, McQueen Financial Advisors, and legal counsel Luse Gorman, PC. Madison Community Bancshares Corporation received a fairness opinion from Performance Trust Capital Partners, LLC and legal counsel from Smith Mackinnon, PA.
More information on the transaction is available at GoGulfWinds.com/growingforgood.