The deal would create a $21 billion institution serving 1.4 million members, continuing a wave of large credit union consolidations nationwide.

Suncoast Credit Union, the largest credit union in Florida and one of the biggest in the nation, announced plans on Friday to merge with Launch Credit Union in a move that would further consolidate the state’s fast-growing cooperative banking sector.

The proposed merger, subject to regulatory approval and a vote of Launch’s membership, is expected to take effect in late 2026, with full operational integration extending into 2027. There will be no job losses and no branch closures as a result of the transaction, the institutions said.

Based in Tampa, Suncoast Credit Union traces its roots to 1934, when it was chartered as Hillsborough County Teachers Credit Union. It has since grown into the eighth-largest credit union in the United States by membership and the 10th largest by assets, with $19.2 billion on its balance sheet. The credit union operates 79 full-service branches and serves more than 1.3 million members across Florida. It earned $215 million in 2025, up from $136 million in 2024.

Launch Credit Union, based in Merritt Island, serves more than 86,000 members through 17 branches in Brevard and Volusia counties. It manages more than $1.4 billion in assets and reported earnings of $7.7 million in 2025, compared with $4.8 million the year before.

Following completion of the merger, the combined organization would hold more than $21 billion in assets, serve approximately 1.4 million members and employ nearly 3,000 people across 96 branches statewide. The merged institution would operate under the Suncoast name.

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“This decision is rooted in our commitment to members, employees, and the communities we serve,” Kevin Johnson, president and chief executive of Suncoast, said in a statement. “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.”

Joe Mirachi, president and chief executive of Launch, who plans to retire after the merger is completed, described the move as strategic rather than reactive. “Our organization is strong, and this merger is a choice to grow from that position of strength,” he said. “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.”

Board leaders from both institutions said they unanimously support the deal. Gary Gresham, chair of Suncoast’s board, said, “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.”

Hollimarie Montijo, chair of Launch’s board, called the merger “a thoughtful and strategic step forward,” adding that the combined organization would be “a stronger, more resilient credit union” positioned to invest in employees and communities for generations.

The transaction is the latest in a string of high-profile credit union mergers nationwide.

In January, Digital Federal Credit Union and First Tech Federal Credit Union officially combined for what is believed to be the largest credit union merger ever proposed in the United States, creating a nearly $30 billion institution.

Last year, Wings Credit Union announced a merger of equals with Ent Credit Union, forming a combined entity with roughly $19.2 billion in assets.

As consolidation accelerates, Florida’s largest credit union is betting that scale, paired with cooperative roots, will define its next chapter.

“Our organization is strong, and this merger is a choice to grow from that position of strength.”

– Joe Mirachi
President & CEO
Launch Credit Union