Sarasota Coastal, MidFlorida Plan Merger

Published April 08, 2009, 4:44 p.m. EDT

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Updated August 27, 2020, 12:44 a.m. EDT

1 Min Read

SARASOTA, Fla.–The $235-million Sarasota Coastal Credit Union said it will be absorbed via merger by the $1.4-billion MidFlorida Federal Credit Union, based in Lakeland, Fla.

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All 74 of Sarasota Coastal’s employees are being offered positions with MidFlorida. Plans call for the merger to be completed by June 30, with MidFlorida reporting it will remodel the existing Sarasota Coastal branches “into more traditional banking centers” and to increase staffing at each office.
Kevin Jones, MidFlorida’s president and chief executive officer, will remain in that position, with Sarasota Coastal President Tom Randle to become senior vice president of governmental affairs for MidFlorida. “

Sarasota Coastal has five branches and 25,000 members. MidFlorida has 24 branches, 450 employees and 126,000 members.

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