JACKSONVILLE, Fla. (8/2/12)--Alive CU, based in Jacksonville, Fla., has signed an agreement to purchase two Jacksonville branches of Space Coast CU, which is based in Melbourne.
The $112 million asset Alive CU's purchase is pending regulatory approval. The deal will increase Alive CU's number of total branches to 11 (Jacksonville Business Journal Aug. 1).
The $3.2 billion asset Space Coast CU operates about 24 branches, mostly in the coastal area of South Florida. Last December it entered into an agreement with MidFlorida CU, Lakeland, which assumed six Space Coast's branches in Pinellas and Hillsborough Counties (News Now Dec. 13). At the time, Space Coast noted the credit union was evaluating how best to serve the Tampa area members. In 2009, Space Coast acquired the ailing Eastern Financial Florida CU in Miramar.
Alive is the former Healthcare's Cooperative CU. Many of its branches are inside health care facilities. Its purchase is pending regulatory approval.