Pensacola, Florida – Today, Gulf Winds Credit Union (Gulf Winds) announced plans to operate under a new name and identity: TruWorth Credit UnionTM. The creation of TruWorth Credit Union represents the belief that people are more than the transactions they make, and that banking should remain personal, trusted, and centered around community. This rebrand is expected to take effect in the Spring of 2027.
In addition to the rebrand, Madison County Community Bank (MCCB), headquartered in Madison, Florida, its parent holding company, Madison Community Bancshares Corporation, headquartered in Madison, Florida, and Gulf Winds, jointly announced today that they have entered into a definitive agreement pursuant to which Gulf Winds will acquire MCCB (the proposed “Transaction”), bringing together two community-focused financial institutions with a shared commitment to trusted relationships, local service, and long-term philanthropic impact.
Upon completion of the proposed Transaction, Gulf Winds will add approximately $200 million in assets as well as MCCB’s two branches, located in Madison and Perry, Florida, bringing the combined organization’s expected total asset size to over $1.7 billion and its retail network to 15 locations across Florida and Alabama. Together, the organization will serve more than 87,000 members, driving financial success and prosperity for all.
Leadership emphasized that throughout this transition, the values that define the institutions will remain the same, creating a stronger foundation for future growth, innovation, and service.
“This new identity is about putting a name to what Gulf Winds and Madison County Community Bank have always believed: people come first,” said Daniel Souers, President and CEO of Gulf Winds. “As a full-service financial provider serving first-time savers, growing families, small business owners, and future retirees, TruWorth Credit Union will be dedicated to helping people move forward for generations to come.”
“Madison County Community Bank was founded on a simple belief: people deserve a bank they know and trust,” said D. Edward Meggs, Sr., President and CEO of Madison County Community Bank. “That belief remains at the heart of this decision. TruWorth Credit Union will allow us to carry the best of Madison County Community Bank forward while combining our strengths with Gulf Winds’ strengths to create something even bigger for the future. This is not about leaving our history behind. It is about honoring it by building upon it.”
TruWorth Credit Union will be built around a simple promise: We See Your True Worth.
The proposed Transaction is contingent on approval by Madison Community Bancshares Corporation shareholders, the receipt of all required regulatory approvals, and the fulfillment of all customary closing conditions.
Final regulatory approval is expected in mid-2027. The two organizations are expected to be fully integrated by the beginning of 2028.
Learn more at GoGulfWinds.com/growingforgood.
Gulf Winds is being advised in the proposed Transaction by CEO Advisory Group and McQueen Financial Advisors as financial advisors and Luse Gorman, PC as legal counsel. Madison Community Bancshares Corporation was provided a Fairness Opinion for the Transaction by Performance Trust Capital Partners, LLC and Smith Mackinnon, PA served as its legal counsel.
Additional Information
This press release is not a solicitation of any vote or approval of the Madison Community Bancshares Corporation shareholders and is not a substitute for the proxy statement or any other documents which Madison Community Bancshares Corporation may send to its shareholders in connection with the proposed Transaction. In connection with the proposed Transaction, Madison Community Bancshares Corporation will provide its shareholders with a proxy statement and other relevant documents concerning the proposed Transaction. Shareholders of Madison Community Bancshares Corporation are urged to read the proxy statement and other relevant documents, and any amendments or supplements to those documents, because they will contain important information which should be considered before making any decision regarding the proposed Transaction.
About Gulf Winds Credit Union:
At Gulf Winds Credit Union, we believe financial success is the foundation for stronger communities. Since 1954, we’ve helped members move forward with confidence—providing innovative solutions, certified financial coaching, and a deep commitment to the people and communities we serve. With 12 branches, more than $1.3 billion in assets, powerful digital tools, and a nationwide network of surcharge-free ATMs, Gulf Winds delivers the reach of a major financial institution with the heart of a local partner. Together, our team of 260+ employees are unlocking financial greatness serving more than 74,000 members across North Florida, Southern Alabama, and Southern Georgia. See how we’re making an impact at GoGulfWinds.com.
About Madison County Community Bank and Madison Community Bancshares Corporation:
Madison County Community Bank is a locally owned, community-focused bank established in 1999 by a group of local residents in Madison County, Florida, with the mission of serving the banking and financial needs of local citizens and businesses. Since then, the Madison County Community Bank has expanded and operates two branch locations in each of Madison and Perry, Florida. Madison Community Bancshares Corporation is the bank holding company that owns Madison County Community Bank, which is FDIC-insured and operates as a Florida state-chartered bank. For additional information about Madison County Community Bank, visit: mccbflorida.com.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are not historical or current facts and they often include words like “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “will,” or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expected include, among others, facts or events that delay or prevent the completion of the Transaction or that complicate or delay the integration of MCCB’s operations into Gulf Winds’ business, legislative and regulatory changes that adversely affect Gulf Winds’ business, or Madison Community Bancshares Corporation shareholders may not approve the proposed Transaction. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. Except as required by law, none of Gulf Winds, Madison Community Bancshares Corporation, or MCCB undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, to reflect circumstances or events that occur after the date the forward-looking statements are made.
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