Members approve merger between Addition Financial and Envision credit unions
With a member vote finalizing the deal, the two Florida-based credit unions will officially merge on October 1 under the Addition Financial name, forming a $3.8 billion institution.
Members of Envision Credit Union have overwhelmingly approved a proposed merger with Addition Financial Credit Union, the final step in a process that will officially unite the two Florida-based financial institutions on October 1.
The vote, held on September 12, follows prior regulatory approvals from the National Credit Union Administration, the Georgia Department of Banking and Finance, and the Florida Office of Financial Regulation. The merger, first announced in July, will create a combined credit union with more than $3.8 billion in assets and over 250,000 members across 37 branches in Florida and Georgia.
Both credit unions share similar roots—founded by educators in the mid-20th century—and have long emphasized a member-first philosophy. Lake Mary-based Addition Financial, established in 1937, currently has $2.9 billion in assets and 191,697 members. Tallahassee-based Envision, founded in 1954, has $847 million in assets and 63,458 members.
Kevin Miller, President and CEO of Addition Financial, will lead the combined organization, which will retain the Addition Financial name.
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“On behalf of Addition Financial, I want to thank the Envision members for their support of this merger,” Miller said in a statement. “This is a historic moment for both credit unions and, most importantly, for our members. Together, we will provide even greater value and continue our shared legacy of service.”
Darryl Worrell, President and CEO of Envision Credit Union, echoed that sentiment, emphasizing the enhanced services and technology the merger will bring.
“By joining with Addition Financial, our members will benefit from a broader range of services, enhanced technology, and continued focus on the credit union philosophy of people helping people,” Worrell said.
The merger comes amid a wave of credit union consolidations. The NCUA approved 45 mergers in the second quarter of 2025, slightly down from the same period last year. In the first half of 2025, Addition Financial earned $13.6 million, an 8% decline from a year earlier, while Envision earned $1.1 million, down 50%.
The combined institution will be one of the largest credit unions in the Southeast.
“This is a historic moment for both credit unions and, most importantly, for our members. As we move forward in this new chapter, we are expanding our reach and creating new opportunities to improve members’ financial lives.”
– Kevin Miller
President & CEO
Addition Financial Credit Union
