Florida's largest credit union and the $1.4 billion, Merritt Island, Fla.-based Launch Credit Union announced their intent to merge Friday, pending regulatory approval and a vote by Launch members.
If approved, the merger of Launch and the $19.6 billion, Tampa-based Suncoast is expected to take effect in late 2026, with full operational integration extending into 2027, the credit unions said. The combined organization would hold more than $21 billion in assets, serve approximately 1.4 million members, and employ almost 3,000 people across 96 branches throughout Florida. It would operate under the Suncoast Credit Union name, uniting both memberships under a single brand.
Kevin Johnson, current president/CEO for Suncoast, would continue serving as president/CEO of the combined credit union, while Launch President/CEO Joe Mirachi plans to retire after the merger is completed. What's more, the merger would not result in any job losses or branch closures for either credit union, according to the announcement.
"This decision is rooted in our commitment to members, employees and the communities we serve," Johnson said in a prepared 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."
Mirachi added, "Our organization is strong, and this merger is a choice to grow from that position of strength. 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."
The credit unions emphasized that both Boards of Directors are fully aligned on and unanimously support the proposed merger.
"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," Suncoast Board Chair Gary Gresham said in a prepared statement.
Launch Board Chair Hollimarie Montijo added, "This partnership represents a thoughtful and strategic step forward for our members, our employees and the communities we proudly serve. Launch has always operated from a position of strength, and joining with Suncoast allows us to build upon that foundation in a way that expands opportunity while honoring our cooperative values. Together, we are creating a stronger, more resilient credit union – one that will continue to deliver exceptional service, invest deeply in our people and enhance the financial well-being of members across Florida for generations to come."
As of Dec. 31, 2025, Suncoast sat at number 10 on CU Times' list of Top 10 credit unions and was expected to fall to No. 12 as a result of two large industry mergers that have since been completed (First Tech Federal Credit Union with Digital Federal Credit Union, and Ent Credit Union with Wings Financial Credit Union). However, Suncoast's merger with Launch would allow it to retain its spot at No. 10, while Chicago's Alliant Credit Union ($20.3 billion, 923,396 members) would fall off the list to No. 11.
Launch serves more than 86,000 members with 17 branches located throughout Florida's Brevard and Volusia counties.
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