December 25th, 20190142Suncoast Credit Union recently announced the signing of an agreement to purchase Miami-based Apollo Bank.
The deal is the largest bank acquisition by a credit union in U.S. history and the 12th acquisition of its kind in Florida, according to a Florida Weekly article.
Apollo Bank is a leading community bank in Florida that is locally operated and owned by shareholders with $746 million in assets and about 100 employees. The bank, which launched in 2010, operates five branches in Miami's Brickell Financial District, Doral, Coral Gables, Kendall and Hialeah.
According to Suncoast Credit Union CEO Kevin Johnson, the agreement...
December 23rd, 20193125Georgia's Own Credit Union recently acted as a corporate sponsor in a #GivingTuesday campaign that resulted in a $13.5 million donation.
The campaign, led by the Georgia Center for Nonprofits, joined together nonprofits, businesses, media partners and thousands of individual Georgians to lead a statewide generosity movement which generated 73 percent more donations than last year. In total, Georgia's annual day of giving has galvanized more than $41.5 million in donations -- and more than 284,000 in individual gifts -- since it began in 2012, according to a Henry Herald article.
Georgia's Own CU was one of six foundation partners who...
December 23rd, 20192119Creditunions.com recently named two Florida credit unions in its article about the best lending programs of the year.
The article recognized Manatee Community Federal Credit Union for offering innovative employer-sponsored small-dollar loans. Employers enroll in the program and then offer the loans as a benefit of employment, sometimes with loan reserves bolstered by company contributions, according to the Creditunions.com article.The idea behind these loans is relatively simple -- but they act as a rescue for many who would have turned to predatory payday loans.
Pen Air Federal Credit Union also received recognition for its auto...
December 23rd, 20190105The Birmingham Chapter of credit unions donated $8,400 during the group's recent Christmas party.
The chapter collected the money both through its own efforts and through efforts by the Birmingham Chapter Young Professionals Group through the year. The donation will help credit unions in Birmingham and the surrounding areas with financial education outreach, professional development scholarships and community development efforts.
December 20th, 20191165Business Observer recently featured Suncoast Credit Union's recent acquisition of Miami-based Apollo Bank. The merger happened after Suncoast reached $10 billion in assets. Apollo Bank has $746 million in assets.
The following is an exert from the Business Observer article:
In banking, $10 billion is more than just a really big number. When an institution crosses that threshold with its assets, it becomes subject to several regulations within the Durbin Amendment of the Dodd-Frank Act. One of those is a cap on income from interchange fees, which immediately put pressure on Suncoast's earnings. And because Suncoast is a credit union, that...
December 20th, 20190228Space Coast Credit Union, the third largest credit union in Florida, is reolcating its existing South Florida operations center to the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida, according to a Caribbean Today article.
The credit union, which employees about 850 team members, is leasing the entire 48,604-square-foot space.
"We chose the Miramar Park of Commerce due to its proximity and convenient access to major nearby thoroughfares," SCCU Chief Operating Officer Alan Lewis told Caribbean Today. "We weren't necessarily looking at new construction, but we found that this building...
December 19th, 2019286Robins Financial Credit Union employees recently donated 55 Christmas gifts to elderly and disabled Central Georgia residents.
Robins Financial employees created Christmas gift boxes for donations to the Meals on Wheels of Houston County's "Shoeboxes for the Elderly" program. The packages contained a variety of items from games to personal care. These presents will be delivered to Meals on Wheels recipients for the holidays.
Also featured in: CUSocialGood, CUInsight, 13WMAZ,...
December 19th, 20190118The LGE Community Outreach Foundation recently presented $250,000 to local nonprofit organizations at LGE Community Credit Union's annual Christmas breakfast.
The event recognized nonprofit organizations from the metro Atlanta community and each nonprofit was invited to speak and share donor impact stories with the entire LGE team of roughly 300 employees. Nonprofits that received donations from the LGE Foundation included:
Children's Healthcare of Atlanta
SafePath Children's Advocacy Center
Next Step Ministries
MUST Ministries
McKenna Farms
United Military Care
Calvary Children's Home
CASA of Paulding County
...
December 19th, 20191137Robins Financial Credit Union will be giving back to the community during the holidays with its 25 Days of Holiday Giving.
Robins selected 25 different organizations within their county radius to provide a monetary donation to help the organizations with their holiday festivities. These donations will roll out over 25 days.
The following organizations received a donation during the first, second and third weeks:
ABBA House in Perry received a $1,000 donation.
This organization provides a safe place where women can recover from abuse or addiction and find healing.
Boys & Girls Club of Baldwin & Jones Counties received a...
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