EMBROKE PINES, Fla. – Power Financial CU is the latest credit union to expand into the underserved Florida Keys, a 160-mile long string of islands south of Miami connected by a single causeway.
The $490 million credit union has applied to state regulators to serve residents in Islamorada, Key Largo, Summerland Key, Big Pine Key, Sugarloaf Shores, Marathon, Key Colony Beach, Marathon Shores, Tavernier, and all the way to the southern tip of the islands in Key West, where the Keys’ only credit union, Keys FCU, has been under NCUA conservatorship for the past year.
The bid by Power Financial follows last month’s approval by state regulators to Space Coast CU, located 150 miles north of Miami in the community of Melbourne, to expand into the Keys.
