Space Coast Credit Union
Formerly called | Patrick Air Force Base Credit Union |
|---|---|
| Credit Union | |
| Industry | Financial Services |
| Founded | 1951 |
| Headquarters | Melbourne, Florida, USA |
Number of locations | 58[1] |
Area served | Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, Volusia Counties in Florida |
Key people | Doug Samuels, CEO/President |
| Products | Savings; Checking; Consumer loans; Mortgages; Credit cards; Investments; Online banking |
| Total assets | US$3.4 billion (2015) |
Number of employees | 750[1] (2015) |
| Website |
SCCU |
Space Coast Credit Union (also known as SCCU) is a state-charted credit union headquartered in Melbourne, Florida. It is insured and regulated by the National Credit Union Administration (NCUA).[2] As of 2015, SCCU had over 300,000 members and $3.4 billion in assets, making it the third largest credit union in Florida.[1]
History
SCCU was formed in 1951 as Patrick Air Force Base Credit Union, serving Patrick Air Force Base.[3] The credit union started with $372 and 7 members.
The company changed its name to Space Coast Credit Union in 1980.[4]
In 2009, SCCU merged with Eastern Financial Florida Credit Union, growing SCCU's assets to $3.2 billion and 380,000 members.[5] Prior to the merger, bad loans and investments made during the 2007–2008 financial crisis put Eastern Financial into distress.[6] NCUA took control of Eastern Financial and turned operations over to SCCU.
In 2011, SCCU spun off its Tampa Bay area operations to MidFlorida Credit Union, gaining MidFlorida 16,000 members, 6 branch locations, and $115 million in assets.[7]
Alive Credit Union acquired two of SCCU's branches in Jacksonville in 2012.[8]
Membership
Membership at SCCU is open to anyone who works or lives in one of 14 Florida counties: Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, or Volusia.[9]
References
- 1 2 3 Price, Wayne T. (June 24, 2015). "Space Coast CU Begins $30 Million Expansion". Florida Today. Retrieved June 25, 2015.
- ↑ "2012 Directory of Federally Insured Credit Unions" (PDF). National Credit Union Administration. Retrieved June 25, 2015.
- ↑ Oates, Sarah (September 24, 1989). "Brevard Credit Union Takes Off Like Rocket". Orlando Sentinel. Retrieved June 17, 2014.
- ↑ "Space Coast Credit Union: Private Company Information". Bloomberg Businessweek. Retrieved August 22, 2014.
- ↑ Samaad, Michelle A. (July 1, 2009). "Space Coast, Eastern Financial Merger Gets Green Light". Credit Union Times. Retrieved June 17, 2014.
- ↑ Harrington, Jeff (April 24, 2009). "Regulators seize Eastern Financial Florida Credit Union". Tampa Bay Times. Retrieved August 6, 2014.
- ↑ Roberts, Ed (December 12, 2011). "Space Coast CU Spins Off Six Branches, 16,000 Members to MidFlorida CU". Credit Union Journal. Retrieved June 17, 2014.
- ↑ Roberts, Ed (August 2, 2012). "NCUA Clears Space Coast CU Spin-Off of Jacksonville Branches". American Banker. Retrieved August 22, 2014.
- ↑ Berman, Dave; Price, Wayne T. (December 4, 2014). "Space Coast Credit Union's Plan May Add 600 Jobs". Florida Today. Retrieved December 5, 2014.