TAMPA, Fla.—Launch Credit Union members have approved the credit union’s merger with Suncoast Credit CU, clearing the way for the combination to take legal effect Sept. 1.
The NCUA and both credit unions’ boards previously approved the transaction, which CUToday.info reported when it was announced.
The $20.9-billion Suncoast, based here, will combine with the $1.4-billion Launch, based in Merritt Island, Fla. The resulting organization will operate under the Suncoast name, manage more than $22 billion in assets and serve more than 1.5 million members. Of the Launch members who voted during the 45-day balloting period, 79.5% supported the merger.
Suncoast President and CEO Kevin Johnson will lead the combined organization, while Launch CEO Joe Mirachi will retire.
“Today marks an exciting new chapter as Launch Credit Union members become part of Suncoast Credit Union,” Johnson said. “Together, we’ll continue investing in innovative products, enhanced services and meaningful community impact while remaining focused on our mission of helping our members achieve financial success.”
Launch will operate as “Launch, a Branch of Suncoast Credit Union” until full operational integration, expected in summer 2027. The institutions said no branches will close and no jobs will be eliminated.