Growing Together Coast to Coast.
Launch Credit Union and Suncoast Credit Union are pleased to announce plans to merge, subject to regulatory approval and a Launch Credit Union membership vote. The strategic partnership brings together two healthy, member-owned financial institutions serving communities across Florida, strengthening their ability to support members and communities well into the future.
For decades, cooperative credit unions like Launch and Suncoast have delivered value through competitive loan rates, meaningful dividends, and a deep commitment to community support. As the financial services landscape continues to evolve, this merger reflects a proactive and intentional step forward – one that builds on existing strength to better serve members, support employees, and expand positive impact in the communities where both organizations operate.
The effective date of the merger is expected to be late 2026, with full operational integration extending into 2027. There will be no job losses and no branch closures because of the merger. Following completion, the combined organization will hold more than $21 billion in assets, serve approximately 1.4 million members, and employ almost 3,000 people across 96 branches throughout Florida.
Kevin Johnson, current President/CEO of Suncoast Credit Union, would lead the combined credit union following the merger. Joe Mirachi, current President/CEO of Launch Credit Union, is retiring after the merger is completed.
“Our organization is strong, and this merger is a choice to grow from that position of strength,” said Joe Mirachi, President/CEO of Launch Credit Union. “Bringing our two credit unions together allows us to invest further in our employees, deepen service to our members, and extend our cooperative mission and invest more in the communities we serve.”
“This decision is rooted in our commitment to members, employees, and the communities we serve,” said Kevin Johnson, President/CEO of Suncoast Credit Union. “With Launch Credit Union we found an ideal partner that shares our values, financial strength, and commitment to employees and communities. Together we’re ensuring the members we serve 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 preserving a shared commitment to service, trust, and community impact.
Both Boards of Directors are fully aligned and unanimously support the proposed merger, recognizing the powerful opportunity it creates to amplify value and deliver greater impact for members, employees, and the communities they serve.
“This partnership represents a thoughtful and strategic step forward for our members, our employees, and the communities we proudly serve,” said Hollimarie Montijo, Launch Credit Union Board Chair. “Launch has always operated from a position of strength, and joining with Suncoast allows us to build upon that foundation in a way that expands opportunity while honoring our cooperative values. Together, we are creating a stronger, more resilient credit union—one that will continue to deliver exceptional service, invest deeply in our people, and enhance the financial well‑being of members across Florida for generations to come,” she added.
“This partnership expands our reach across Florida from coast to coast, creating powerful new opportunities for our teams to make a meaningful difference in more members’ lives,” said Gary Gresham, Suncoast Credit Union Board Chair. As member-owned cooperatives governed by the National Credit Union Administration, final approval of the merger is contingent upon a vote of the Launch Credit Union membership. As the process moves forward, both credit unions will continue to share timely and transparent information with their respective memberships through their websites and other communication channels.
Frequently Asked Questions
1. WHAT DOES THIS MERGER ANNOUNCEMENT MEAN?
Launch Credit Union is planning to merge with Suncoast Credit Union – pending regulatory and Launch member approval. This merger represents a strategic partnership between two well-established, member-focused credit unions united by a shared commitment to service, community, and long-term financial well-being. Together, we will expand access to products, services, and opportunities for both members and employees, broaden our ability to invest in and support the communities we serve, and position the organization to respond to evolving member needs with greater reach and capability.
2. WHY ARE WE MERGING?
By bringing our strengths together, this partnership helps us better serve our members, support our employees, and strengthen our communities by supporting causes at more impactful level. It improves our long-term stability and allows us to better compete with new, non-traditional companies entering the financial space. By sharing resources, expertise, and technology, we can deliver more value while continuing to focus on innovation and excellent service.
3. WHY SUNCOAST CREDIT UNION?
Suncoast is a well-respected, mission-driven credit union founded 92 years ago and rooted in a strong member-first philosophy. Like Launch, Suncoast puts members at the center of everything it does from offering lower loan rates to providing a wide range of free services designed to meet members’ financial needs. The organization is known for its positive workplace culture, strong alignment of values, and a deep commitment to giving back, both to its members and to the communities it serves.
4. WHO IS SUNCOAST CREDIT UNION?
Suncoast Credit Union is the largest credit union in the state of Florida, the 8th largest in the United States based on membership, and the 10th largest in the United States based on its $19.2 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 79 full-service branches and serves more than 1.3 million members across Florida. As a community credit union, anyone who lives, works, attends school, or worships in Suncoast Credit Union’s service area is eligible for membership. In 2021, Suncoast Credit Union’s field of membership was expanded to include public K-12 teachers, college educators, and educational support staff from all of Florida’s 67 counties. Suncoast is passionate about community support. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $55 million to organizations and initiatives that support the health, education, and emotional well-being of children in the communities that the credit union serves. For more information, visit suncoast.com.
5. DO BOTH CREDIT UNIONS SUPPORT THIS MERGER PARTNERSHIP?
Yes, absolutely! Both boards of directors and executive leadership teams support the merger. They are excited about the opportunities for growth and enhanced benefits for members, employees, and communities.
6. WHAT WILL THIS PARTNERSHIP MEAN FOR THE CREDIT UNIONS?
This merger creates an over $21 billion organization serving more than 1.4 million members, strengthening our ability to invest in innovation, resources, and support for both members and employees. By combining the best of both credit unions—our products, services, technology, and talent—we remain firmly committed to our mission, our people, and the communities we serve.
7. WILL WE STILL BE A CREDIT UNION UPHOLD CU VALUES AFTER THE MERGER?
Yes, absolutely! Both credit unions are committed to remaining member-owned and not-for-profit financial cooperatives. This merger will allow us to grow responsibly while staying true to our mission of putting members first.
8. WHAT ARE THE MEMBER BENEFITS?
This merger brings meaningful benefits designed to enhance access, convenience, and long-term value for our members:
- More Locations & Access: Access to 96 branch locations across Florida, providing added convenience and broader reach, along with access to more than 30,000 fee-free ATMs nationwide, including convenient locations at Publix and Wawa.
- Expanded Products & Services: A broader range of savings and account options designed to support diverse financial goals, commercial analyzed checking solutions for growing and complex businesses, and insurance offerings that support both personal and business needs.
- Increased Innovation: Greater capacity to invest in new products, services, and digital solutions over time.
- Stronger Communities: Greater investment in local outreach, financial education, and community support. For example, with every debit card swipe, three cents are donated to support education and local children—contributions that total millions of dollars each year—along with ongoing efforts in Hispanic community outreach and expanded access to financial literacy and economic opportunity.
- Long-Term Stability: A well-positioned organization with the scale and resources to support members now and into the future.
- Member Giveback: A special dividend up to $15 million will be paid to qualified accounts before the effective date of the merger to demonstrate our commitment to putting members first and honoring that legacy as we move forward pending regulatory approval.
- Community Giveback: $5 million community giveback to Launch counties (Brevard and Volusia) – to support scholarships, foodbank, and affordable housing initiatives.
9. WHAT CHANGES WILL MEMBERS EXPERIENCE?
For now, it’s business as usual! You’ll still use the same account number, access your accounts, use your checks, debit card, online banking and enjoy the same great service you’ve always received. As the merger moves forward, expect some exciting enhancements over time. We’ll keep you updated every step of the way, with plenty of notice for any changes.
10. WILL MY RATES CHANGE?
Your rates on fixed-rate loans and certificates will stay the same until the end of their current terms. Other products will adjust as usual, based on market conditions.
11. WILL MY ACCOUNTS CONTINUE TO BE FEDERALLY INSURED?
Yes! Your deposits will still be federally insured by the National Credit Union Share Insurance Fund (NCUSIF). You can find more info and use the NCUA insurance calculator at www.mycreditunion.gov/estimator.
12. WHAT IF I ALREADY HAVE AN ACCOUNT AT BOTH CREDIT UNIONS?
We’re happy to have you as a member of both credit unions! For now, it’s business as usual - you can continue using your accounts as normal. As we get closer to the merger date, we’ll keep you informed with clear updates and support you throughout the transition.
13. WHAT DOES THIS MEAN FOR EMPLOYEES?
This merger brings exciting opportunities for our teams. Both credit unions are committed to retaining employees and maintaining the teams our members know and trust. Over time, employees will benefit from expanded career growth opportunities made possible by broader functional areas, greater role specialization, and integration with a larger team.
14. WOULD ANY EMPLOYEES LOSE THEIR JOBS AS THE RESULT OF THE MERGER?
No! There will be no layoffs as a result of this merger. Our team members are integral to our success, and both credit unions recognize the importance of retaining talented and dedicated team members. We know a successful merger depends on retaining top talent and strong leadership.
As a testament, Suncoast has never had layoffs – even during the great recession of 2007-2009.
15. WHO WILL LEAD THE NEWLY COMBINED CREDIT UNION?
Kevin Johnson, Suncoast’s President/CEO of will continue to lead the combined organization.
Kevin D. Johnson is the President and Chief Executive Officer of Suncoast Credit Union and serves on the Boards of TruStage, Filene Research Institute, Members Development Company, and Credit Union Data Exchange (CUDX). He is also a member of the Visa Executive Client Council.
With a career spanning four decades at Suncoast Credit Union, Johnson has played a central role in the organization’s growth into Florida’s largest credit union, now serving more than 1.3 million members with over $19 billion in assets and more than 80 branch locations across the state.
Johnson was appointed President and CEO in 2016 after 16 years in senior leadership roles, including Executive Vice President and Senior Vice President & Chief Information Officer (CIO). As CIO, he led the development of Suncoast’s online and mobile banking platforms, including the internally built mobile app that set a new standard for digital member experience. His background brings deep expertise in information technology, cybersecurity, data analytics, digital delivery, and operations to his role as CEO.
A strategic, mission‑driven leader, Johnson is committed to advancing the credit union movement and strengthening the communities Suncoast serves. He is also active in philanthropic leadership through his service on the Tampa Bay Partnership Council of Governors.
Johnson earned a B.S. in Business Management from the University of Tampa and holds the America’s Credit Union Certified Credit Union Executive designation. He and his family reside in Tampa, Florida.
16. WHAT WILL THE NAME OF THE COMBINED CREDIT UNION BE?
Launch will become Suncoast Credit Union. At legal merger, Launch branches will be denoted as “Launch Credit Union”, a division of Suncoast Credit Union or similar designation.
The official name change will take place closer to or on Operational Day 1, when core systems change.
17. WHAT IS THE TIMELINE?
We’re still in the early stages. To complete the merger process, we must receive approval from three sources: our Boards of Directors, our regulators, and Launch Credit Union members. Here’s a tentative timeline:
- January 30, 2026: The boards of both credit unions approved and signed a merger agreement.
- Current – Q2 2026: We are in the process of submitting a merger application to the regulators for approval, before a Launch Credit Union member vote can occur.
- Q2 -Q3 2026: Special Meeting for Launch Credit Union Member vote anticipated.
We anticipate completing the legal merger late 2026 with full operational integration extending into 2027. Rest assured, we are committed to keeping you informed throughout the entire process.
18. DO MEMBERS HAVE A SAY IN THE MERGER?
Yes! Members of Launch Credit Union will have an opportunity to vote on the merger (the voting period would occur after we receive regulatory approval). Members will receive notices and ballots later in the process.
19. HOW WILL I BE KEPT INFORMED?
We’re committed to keeping you informed along the way. As the process continues, Launch Credit Union will share important notices, dates, and events. If you do have any questions, please email memberquestions@launchcu.com.
This partnership is not about changing what you already value, it is about building upon our strong foundations and unlocking even greater benefits for every member—we’re growing together and positioning our organizations to deliver additional convenience, access, and value—today and into the future.