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Space Coast CU Wastes No Time Assessing Eastern Financial's Operations

Members of Space Coast Credit Union's executive management team are scheduled to meet with management at Eastern Financial Florida Credit Union today to begin the process of assessing every operational area of the troubled financial institution.

By Michelle A. Samaad | Updated on April 26, 2009

Starting this morning, members of Space Coast Credit Union’s executive management team are scheduled to meet with management at Eastern Financial Florida Credit Union to begin the process of assessing every operational area of the troubled financial institution.

According to SCCU spokeswoman Meredith Gibson, $1.5 billion Space Coast in Melbourne, Fla. was officially notified to step in on April 24, the same day NCUA placed the $1.6 billion EFFCU into conservatorship. Gibson told Credit Union Times SCCU was chosen because it is “similar in size and scope” to EFFCU.

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