On Friday, February 17, the announcement was made that Martin Federal Credit Union’s membership voted overwhelmingly to merge with MIDFLORIDA Credit Union, with 90 percent of the votes cast in favor of the merger. “We are very happy with the results of the membership vote,” stated Kevin Jones, President and CEO of MIDFLORIDA. “It solidifies our confidence in this merger as a mutually beneficial move, offering significant value to the blended membership as a whole.” The merge of assets will take place on March 1, 2017. The merge of account records, which will allow Martin members access to MIDFLORIDA’s products and services, will not take place until later this year.
This represents the fifteenth merger for MIDFLORIDA since 1990 and brings the locally owned financial institution to assets of $2.8 billion and more than 265,000 members throughout Central Florida, from coast to coast. “This merger will not only provide Martin members with access to high-tech services and an assortment of new products,” explained Jones, “but also offers our existing members additional branch options while expanding our footprint further into the Orlando market. Our vision is to represent what our name already signifies – a credit union servicing all of Central Florida, while maintaining the same community credit union feel. This merger is one step closer to achieving that goal.”
Following the merge of account records, MIDFLORIDA members will be able to use the new MIDFLORIDA-Martin branded locations acquired from the merger, and former Martin members will have access to MIDFLORIDA’s network of branches. Once combined, MIDFLORIDA will employ a staff of 790 with 44 branch locations serving all or parts of 25 Central Florida counties.