Launch Credit Union – Suncoast Credit Union Merger Would Create $21 Billion, Member-Owned Financial Institution

Deal subject to regulatory approval and member vote; no job losses or branch closures expected

Launch Credit Union and Suncoast Credit Union announce plans to Merge, proposed merger is subject to regulatory approval.

BREVARD COUNTY • MERRITT ISLAND, FLORIDA — Launch Credit Union and Suncoast Credit Union have announced plans to merge, a strategic move designed to strengthen services, expand community impact, and enhance long-term stability for members across Florida.

Launch Credit Union is a full-service, community-based credit union serving more than 86,000 members through 17 branches in Brevard and Volusia counties.

The credit union manages more than $1.4 billion in assets and has received an “Excellent” rating from BauerFinancial, along with recognition in Newsweek’s rankings of top regional credit unions.

Suncoast Credit Union is Florida’s largest credit union, serving more than 1.3 million members with $19.2 billion in assets across 79 branches.

Founded in 1934, Suncoast is known for its extensive community support efforts, including more than $55 million raised and donated through the Suncoast Credit Union Foundation to support children’s health, education, and emotional well-being statewide.

The proposed merger is subject to regulatory approval and a vote of the Launch Credit Union membership.

Leaders from both member-owned financial institutions said the partnership reflects a proactive response to a rapidly evolving financial services landscape, while preserving the cooperative values that have defined both organizations for decades.

Credit unions such as Launch and Suncoast have traditionally emphasized competitive loan rates, strong dividends, and deep community engagement, principles both organizations say will remain central following the merger.

If approved, the merger is expected to take effect in late 2026, with full operational integration continuing into 2027. Officials emphasized that there will be no job losses or branch closures as a result of the merger.

Once combined, the organization would hold more than $21 billion in assets, serve approximately 1.4 million members, and employ nearly 3,000 people across 96 branches statewide.

Under the proposed leadership structure, Kevin Johnson, president and chief executive officer of Suncoast Credit Union, would lead the combined organization. Joe Mirachi, president and CEO of Launch Credit Union, plans to retire following completion of the merger.

“Our organization is strong, and this merger is a choice to grow from that position of strength,” Mirachi said.

“Bringing our two credit unions together allows us to invest further in our employees, deepen service to our members, and extend our cooperative mission while investing more in the communities we serve.”

Johnson said the partnership reflects shared values and a mutual commitment to members and employees.

“With Launch Credit Union, we found an ideal partner that shares our values, financial strength, and dedication to communities,” he said. “Together, we’re ensuring members today—and those we’ll serve in the future—benefit by growing together coast to coast.”

Following the merger, the combined organization will operate under the Suncoast Credit Union name, uniting both memberships under a single brand while maintaining a focus on service, trust, and community impact.

Both boards of directors have unanimously approved the proposed merger. Hollimarie Montijo, chair of the Launch Credit Union Board of Directors, described the agreement as a thoughtful and strategic step forward.

“Joining with Suncoast allows us to build upon a strong foundation in a way that expands opportunity while honoring our cooperative values,” she said.

Gary Gresham, chair of the Suncoast Credit Union Board, said the merger would extend the organization’s reach across Florida.

“This partnership expands our footprint from coast to coast, creating new opportunities for our teams to make a meaningful difference in more members’ lives,” he said.

As federally regulated, member-owned cooperatives overseen by the National Credit Union Administration, the merger will require final approval from Launch Credit Union members.

Both institutions said they will continue to provide timely updates throughout the process via their websites and other communication channels.

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