Two Jacksonville CUs Announce Merger Plans
Alive CU and City & Police FCU plan a merger to better serve their memberships.
Officials with two Jacksonville, Fla.-based credit unions, Alive Credit Union ($173 million in assets, 13,749 members) and City & Police Federal Credit Union ($109 million in assets, 6,627 members), said Tuesday they plan to merge the credit unions to bring extensive experience and resources together for the benefit of the collective membership.
According to a statement released by both credit unions, City & Police will merge into Alive to provide “more opportunities for innovation and expansion, while retaining the same friendly faces and great service their members are accustomed to.”
Alive Board Chair Camille Cossa said, “This is an exciting time for both credit unions. By joining together, we will strengthen our services to our members, and make a more visible impact on our communities.”
In a joint statement, Alive President/CEO Rose Gunter and City & Police President/CEO Aaron Logue said, “It is an honor to serve our members and we look forward to continuing to deliver excellent member service through this merger. Our vision is to provide the services our members need so they can succeed financially while impacting our community in a positive way. This merger helps us fulfill our vision and secure our legacies.”
According to Tuesday’s statement, once the merger is complete, Logue will become president/CEO of Alive upon Gunter’s retirement.
The merger is expected to be finalized later this year, pending regulatory and City & Police membership approval.
If approved, Alive will serve more than 20,000 members in the healthcare industry, City of Jacksonville employees, law enforcement and select retail employee groups.