If Space Coast Credit Union and Eastern Financial Florida Credit Union were to merge, there would be approximately $200 million in net worth after writing off all expected losses from Eastern Financial, Space Coast said.

The expanded credit union would "remain adequately capitalized and will not be under capitalized," said Space Coast spokeswoman Meredith Gibson.

"After writing off all expected losses from EFFCU's loan and investment portfolios, the combined entity will still have approximately $200 million in net worth," Gibson said.

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