Press
CFE and Seminole Schools Federal Credit Union announce merger
LAKE MARY, FL (April 2, 2015) — Two Central Florida credit unions with a heritage of service to education merged on April 1, 2015.
Seminole Schools Federal Credit Union (SSFCU) members approved the merger during a special meeting held on February 26, 2015. Under the approved merger agreement, current SSFCU members will join CFE Federal Credit Union (CFE) as full-fledged members with complete access to its suite of financial products, services, and branches after a computer conversion later in the year.
The merger marks an important point in the history of the two credit unions. CFE and SSFCU share a similar heritage and both credit unions are committed to enhance the credit union philosophy, “people helping people.”
“Anticipation is high for both our members and employees,” said Paula Lindamood, Chairwoman of the Board of Directors for Seminole Schools Federal Credit Union. “This merger will benefit our members for years to come. Combining resources creates greater economies of scale, directly and positively affecting the experience our members will share.”
CFE’s newest members will have access to a broader array of financial products and services than previously offered by SSFCU. CFE boasts 21 full-service branches along with 5 high school branches designed to provide real-life work experience for high school students. CFE is currently working to develop financial products tailored to fit the unique needs of SSFCU members.
“The two credit unions complement each other,” said Joseph A. Melbourne, Jr., President and CEO of CFE. “We share the same commitment to education and financial literacy. The inclusion of our newest members will certainly strengthen CFE’s potential for positive community impact.”
To learn more about becoming a member of CFE Federal Credit Union, visit any CFE branch location or mycfe.com.
About CFE Federal Credit Union
Founded in 1937 by 23 educators, CFE Federal Credit Union serves over 147,000 members. With more than $1.5 billion in total assets, CFE offers its members an array of financial products and services at 23 full-service branches, five high school branches, and 42 non-surcharge ATM locations. Anyone who lives, works, worships, volunteers, or attends school in Orange, Seminole, Osceola, and Lake Counties may become a member. Qualified businesses and other entities may join as well. CFE is the Official Financial Institution of the UCF Knights and owns the naming rights to the CFE Arena on the University of Central Florida campus. CFE is the Preferred Credit Union for Seminole State College. CFE ranked #5 for mid-size companies (100 to 499 employees) in the Orlando Sentinel’s 2014 Top 100 Companies for Working Families. CFE was named Community Champion in the Orlando Sentinel’s 2014 Top 100 Companies for Working Families.