FSU Credit Union is pleased to announce its expansion to Pensacola and Panama City through a merger with Pensacola-based Gulf Power Company Employees (GPCE) Credit Union. The merger is effective October 1, 2020, after final vote tallies showed a 96% member vote affirming the merger. The combined institution now holds nearly $300 million in assets and serves nearly 30,000 members.
“This partnership will bring a brighter financial future to FSU Credit Union members while also allowing us to grow our footprint in Northwest Florida as we expand our services in the Pensacola and Panama City communities,” said Chuck Adcock, President/CEO of FSU Credit Union.
“The Board and Management of GPCE Credit Union are excited to become a division of FSU Credit Union,” said Anita Cooper, former President/CEO of GPCE Credit Union, now Senior Vice-President of Northwest Operations for FSU Credit Union. “We are happy to continue to serve our members while also providing additional opportunities for them through expanded products and services and new technology.”
Two GPCE Credit Union branches are located in Pensacola, Fla., and one in Panama City, Fla. Membership of GPCE Credit Union was previously limited to individuals affiliated with Gulf Power Company or NextEra Energy, which purchased Gulf Power Company in 2018. Membership of FSU Credit Union, with seven branches in Leon, Wakulla, and Jefferson Counties, is open to Florida State University alumni living anywhere in the U.S. and anyone who lives or works in Bay, Calhoun, Escambia, Franklin, Gadsden, Gulf, Holmes, Jackson, Jefferson, Leon, Liberty, Okaloosa, Santa Rosa, Taylor, Wakulla, Walton, or Washington counties.
Chuck Adcock will remain the President/CEO of FSU Credit Union and all employees of the GPCE Credit Union are now employees of FSU Credit Union.