The $20 million Mercy Credit Union in Miami has agreed to merge into the $134 million JetStream Federal Credit Union in Miami Lakes, Fla.
When the merger becomes effective Dec. 31, it will create a credit union with more than $150 million in assets, eight branch locations, and more than 19,000 members throughout Miami Dade County and Puerto Rico.
JFCU President/CEO Jeanne Kucey will remain president/CEO of the newly combined organization, which will retain the JFCU name. MCU President Joe Lanteigne will retire after 20 years of service at the Mercy helm. The MCU branch will remain open with the same operating hours. All employees of JFCU and MCU will continue to be employed following the merger.
“JFCU is an outstanding organization, and we couldn’t be more excited about a shared future,” said Lanteigne. “This partnership brings our members many immediate benefits including access to additional branch locations and expanded product offerings — with the same friendly, personalized and efficient service we’ve had for over 61 years. In addition, this partnership also creates a bright future for all employees.”
Kucey said, “Culture is a critical component to the success of any partnership. We both share a commitment to building better lives for our members, employees and residents in the communities we serve. A combined credit union will also allow us to strengthen our commitment and provide more opportunities for the members and employees of both credit unions.”