Sarasota Coastal Credit Union

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Sarasota Coastal (now Achieva Credit Union)
Credit Union
Industry Financial Services
Founded 1953
Headquarters Sarasota, Florida, United States
Area served
Sarasota, Manatee, Charlotte, Pasco, Pinellas, Hernando, Hillsborough Counties, FL
Key people
Gary Regoli, CEO/President
Products Savings; Checking; Consumer loans; Mortgages; Credit cards; Investments
Website http://www.sccu.org/

Sarasota Coastal Credit Union (now Achieva Credit Union), was a state chartered credit union and was regulated under the authority of the National Credit Union Administration (NCUA). On November 1, 2009, Sarasota Coastal Credit Union merged with Achieva Credit Union, which is headquartered in Clearwater, Florida. The merger created a credit union with more than $800 million in assets and more than 90,000 members in seven counties. Before the merger, Achieva had members throughout Pinellas, Pasco, Hernando and Hillsborough counties while Sarasota Coastal Credit Union served members throughout Manatee, Sarasota, and Charlotte counties.[1]

History[edit]

On December 12, 1953, seven school teachers came together and signed a Certificate of Organization to form the credit union. The original amount of $130 used to organize the credit union was deposited by those seven individuals. The name of the credit union started as The Sarasota County Teacher’s Credit Union. In the years that followed, Sarasota Coastal adopted its current name in response to mergers with other credit unions, the inclusion of Sarasota County employees, and other select employer groups.

Like Sarasota Coastal, Achieva Credit Union was started as a teacher’s credit union in 1937 in Pinellas County. Throughout the years, their field of membership and number of counties served has expanded. The merger is seen as an excellent fit between the two credit unions, as the membership base is similar and the combined field of membership now encompasses counties from Hernando to Charlotte on the West Coast of Florida.

Sarasota Coastal Credit Union members voted their approval of the merger in a Special Member meeting, held in Sarasota on Oct. 26, 2009.[2] "We are pleased that the members of Sarasota Coastal Credit Union have voted in favor of merging, and we look forward to working with them throughout the entire consolidation process," said Gary Regoli, President and CEO of Achieva. "The combined strengths of the two credit unions will provide even greater benefits to all of our members." [1][3]

Membership[edit]

Eligibility for Achieva Credit Union membership is open to anyone who is related to a current Achieva member; or individuals, trusts, associations, organizations and legal entities who live or work in Pinellas, Pasco, Hernando, Manatee, Charlotte, Sarasota and Hillsborough counties, excluding individuals and entities who live or work in ZIP codes 33565, 33566 and 33567.

Organization[edit]

Like all credit unions, Sarasota Coastal Credit Union (now Achieva Credit Union), is governed by a volunteer Board of Directors, elected by and from its membership. The Board has seven members, who serve for three-year terms. Board members can be re-elected to consecutive terms by the membership.

The credit union is a member of the Florida Credit Union League, through which it is associated with the Credit Union National Association.

Services[edit]

Sarasota Coastal (now Achieva) offers savings accounts, checking accounts, IRA accounts, and certificates of deposit, as well as consumer loans, credit cards, mortgages, home equity loans and HELOCs.

Sarasota Coastal Credit Union (now Achieva Credit Union), had five branch locations within Sarasota, Manatee, and Charlotte counties. And there were eight Achieva Credit Union locations throughout Pasco and Pinellas counties. Since the merger, there are now thirteen Achieva Credit Union branch locations throughout Pinellas, Pasco, Manatee, Sarasota and Charlotte counties.

References[edit]

  1. ^ a b "Achieva Credit Union Press release". Retrieved November 3, 2009. 
  2. ^ "Sarasota Herald-Tribune". Retrieved December 8, 2009. 
  3. ^ Harrington, Jeff. Clearwater-based Achieva Credit Union and Sarasota Coastal Credit Union agree to merge. St. Petersburg Times 29 Oct. 2009

External links[edit]