DUNEDIN, Fla. – Achieva Credit Union said it has successfully completed its merger with Preferred Community Bank, a Florida state-chartered bank in Lee County with $118 million in assets that
it purchased earlier this year.
The credit union said its purchase brings its total number of branches to 26 and total assets to $1.7 billion.
Preferred Community Bank’s three branches in Fort Myers, Lehigh Acres, and Cape Coral are now operating as branches of Achieva.
“Achieva Credit Union is excited about welcoming new members from Preferred Community Bank, and we are thrilled to offer residents of Lee County the opportunity to experience our member benefits,” said Achieva CEO Gary Regoli. “Nearly two-thirds of Preferred customers have already voluntarily opted-in to transfer their accounts to Achieva over the last several months, and more customers are signing up every day.”
The deal closes the second bank acquisition by Achieva Credit Union in the past three years. It earlier purchased Calusa Bank, and has since launched Achieva Merger Services, to provide expertise to other credit unions and community banks also seeking to conduct similar transactions.