TAMPA – Launch Credit Union members have approved the proposed merger with Suncoast Credit Union following a 45-day voting period conducted earlier this summer, the credit unions announced Aug. 26.
With approval from Launch members, both boards of directors and the National Credit Union Administration, the merger will take effect Sept. 1, with the combined organization operating under the Suncoast Credit Union name.
Launch Credit Union serves more than 86,000 members across Florida’s Space Coast and operates 17 branches in Brevard and Volusia counties. The combined credit union will serve more than 1.5 million members and manage over $22 billion in assets.
“Today marks an exciting new chapter as Launch Credit Union members become part of Suncoast Credit Union,” said Kevin Johnson, president and CEO of Suncoast Credit Union. “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.”
Johnson will lead the combined organization. Joe Mirachi, CEO of Launch Credit Union, is retiring.
“Our members’ approval reflects confidence in a partnership that positions us to deliver even greater value while preserving the member-first philosophy that has guided Launch Credit Union for more than 60 years,” Mirachi said. “We’re grateful for the trust our members have placed in us and look forward to the opportunities this new partnership creates.”
The integration process will continue over the coming months, and members will not experience immediate changes to their accounts or day-to-day services. Operational Day One, when members and employees are fully operating under the Suncoast umbrella, is expected in summer 2027.
Launch Credit Union will operate as Launch, a Branch of Suncoast Credit Union, during the transition period while both organizations work to integrate operations. Members will be notified in advance of any changes.
During the transition period, Launch and Suncoast will continue operating on separate systems. Members should continue conducting transactions through their existing credit union’s branches, digital banking platforms and service channels.
No branches will close. The credit union said the merger will not result in job losses and will create new opportunities for employees to grow.
The merger will create opportunities to expand products and services, enhance technology, increase access to financial resources and provide additional value and convenience for members.
A special dividend of up to $15 million will be paid to qualified Launch accounts before the effective date of the merger. The credit union announced that $5 million will be invested in nonprofits and school districts throughout Florida’s Space Coast.
