ORLANDO–FAIRWINDS Credit Union is buying Friends Bank, a 19-year-old institution based in New Smyrna Beach on Florida’s East Coast. The $95-million bank has approximately 3,500 customers who will become members upon completion of the acquisition.
Terms of the deal were not released. The $2.3-billion FAIRWINDS Credit Union has approximately 190,000 members.
“As an organization with deep roots in Volusia County, Friends Bank shares Fairwinds’ values of personalized service and community commitment,” Fairwinds President and CEO Larry Tobin said in a released statement.