TAMPA, Fla. — Launch Credit Union announced Friday that it plans to merge with Suncoast Credit Union here, a move that would create one of the largest credit unions in the country with more than $21 billion in combined assets, according to reporting by Florida Today.
Launch Credit Union, based in Merritt Island, Fla., currently holds approximately $2.7 billion in assets, while Tampa-based Suncoast Credit Union has roughly $19.2 billion in assets, making it the largest credit union in Florida. Following completion, the combined organization would serve about 1.4 million members, employ nearly 3,000 people and operate 96 branches statewide, Florida Today reported.
The merger is expected to take effect in late 2026, with full operational integration extending into 2027. The organizations said there will be no job losses or branch closures as part of the transaction, which remains subject to regulatory approval and a membership vote by Launch Credit Union members.
Kevin Johnson, current president and CEO of Suncoast Credit Union, would lead the combined organization, while Launch President and CEO Joe Mirachi plans to retire after the merger closes, Florida Today reported.
“Our organization is strong, and this merger is a choice to grow from that position of strength,” Mirachi said. “Bringing our two credit unions together allows us to invest further in our employees, deepen service to our members, and extend our cooperative mission and invest more in the communities we serve.”