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News Now

CU System
Mergers announced in Florida and Hawaii
PENSACOLA, Fla., and HONOLULU (12/18/12)--Credit union mergers in Florida and Hawaii were announced Monday.

Gulf Winds FCU, Pensacola, Fla., said SCORE FCU, Tallahassee, will become Gulf Winds FCU on Jan. 1. Also, Kapalama Pacific FCU, Honolulu, merged with Honolulu-based Hawaii Central FCU on Dec. 2.

The Florida merger, approved by the National Credit Union Administration, will add more than 5,500 members and three branches in the Tallahassee area to Gulf Winds.

Once the merger is complete, Gulf Winds will have 12 branches, assets more than $475 million, more than 56,000 members, and a field of membership that includes Escambia, Santa Rosa, Leon, Gadsden, Wakulla and Jefferson counties, Fla., and Escambia County, Ala.

SCORE FCU members will have access to more competitive savings and loan rates, enriched online banking capabilities, mobile banking, a convenient contact center, and more.

"We are already working hard with the SCORE FCU team in preparation to offer our market leading savings and loan rates," said Chris Rutledge, president/CEO of Gulf Winds. "As we plan for the future, our goal is to find ways we can expand our footprint within the communities we serve and beyond."

Randy Glover, president/CEO of SCORE, noted its board "invested a significant amount of time searching for a merger partner. Gulf Winds is the best merger partner for our credit union and this partnership insures that our members will receive increased benefits and quality service."

In Honolulu, with the merger of Kapalama Pacific, Hawaii Central now has more than 13,000 members and $157 million in assets (Pacific Business News Dec. 17). Kapalama had roughly 2,228 members and $5.3 million in assets. The Kapalama Pacific board and NCUA have approved the merger.

Hawaii Central FCU President/General Manager Drake Tanabesaid said the credit union is "committed to helping build stronger financial futures for all our members." Hawaii Central is the 10th largest credit union on Oahu.


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