CFE Federal Credit Union Plans to Change Name to Addition Financial

The $1.8 billion CFE Federal Credit Union in Lake Mary, Fla., will change its name to Addition Financial on May 1.

“Our new name will better encompass our mission to bring financial success and education to everyone,” CFE Federal Credit Union President/CEO Kevin Miller said. “The word ‘addition’ ties into our legacy of teaching and learning, while also demonstrating our dedication to adding value to our members’ lives.”

CFE, which stands for Central Florida Educators, was founded in 1937 to serve local educators, but over the years the credit union has expanded to serve anyone who lives, works, worships, volunteers, or attends school within its four-county region.

Under the new Addition Financial brand, the credit union will adopt a new trademarked tagline: Count us in.

“As Addition Financial, we want our brand to reflect our commitment to education and financial empowerment,” Miller said. “We strive to help our members create successful outcomes in their lives by building trusted relationships through our people-first mindset. No matter where our members are in their financial journeys, we want them to count us in.”

CFE also said it is pursuing a state charter, which will allow the credit union to expand to new counties and open more convenient branches for members.

To advance CFE’s strategic plan to increase its market share in Central Florida, the credit union announced in January plans to purchase the $174 million Fidelity Bank of Florida in Merritt Island.

The transaction, which is subject to regulatory and FBOF shareholder approval, is expected to be completed in the third quarter of 2019.

The credit union operates 22 branches and employs 490 staff members who serve a membership of more than 160,000.

CFE is Florida’s ninth largest by assets and eight largest by members.