MidFlorida Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1954 in Lakeland, Florida, United States |
| Headquarters | Lakeland , United States |
Area served | Florida |
| Products | Banking, credit union services |
| Website | www |
MidFlorida Credit Union (branded as MIDFLORIDA) is a credit union with its main office located in Lakeland, Florida. As of December 31, 2021, the institution operates 58 branches throughout the state, serves a membership base of 421,180 individuals, and manages assets totaling $6.05 billion. This places it as the fourth-largest credit union within Florida. MidFlorida functions under the supervision of the National Credit Union Administration (NCUA) as a federally insured, state-chartered credit union, holding NCUA charter number 68600.
History
Established in 1954 in Lakeland under the name Polk County Teachers Credit Union, MidFlorida has grown to serve members across Central Florida. In 2002, the credit union expanded its community charter to incorporate Okeechobee, Sumter, and Hardee counties. It converted to a state charter in 2009 and adopted the MidFlorida Credit Union name to better represent its expanded regional reach.
Bay Gulf Merger
The merger between MidFlorida and Bay Gulf Credit Union took place on June 15, 2010. This consolidation brought approximately 20,000 Bay Gulf members and $140 million in assets into MidFlorida’s portfolio, which at that time included 130,000 members and $1.4 billion in assets. The integration extended MidFlorida’s service area into the Tampa Bay area and increased its coverage to 14 counties across Florida.
Space Coast acquisition
Toward the end of 2011, MidFlorida acquired six branches from Space Coast Credit Union, headquartered in Melbourne, Florida, located in the Tampa region. This transaction added 16,000 members and expanded MidFlorida’s presence to a total of 35,000 members and 14 branches across Hillsborough, Pasco, and Pinellas counties.
Indian River Credit Union merger
In 2012, MidFlorida combined with Indian River Federal Credit Union based in Vero Beach, Florida, bringing an additional 9,100 members and $55.5 million in assets under its management. The merger included two branch locations situated in Vero Beach and Sebastian, Florida, broadening MidFlorida’s geographic coverage from Tampa Bay to the Treasure Coast.
In November 2019, MidFlorida finalized two mergers: it acquired all assets of Community Bank & Trust located in Ocala and took over the Florida operations of First American Bank. Notably, the merger with Community Bank & Trust marked the largest bank-to-credit union acquisition on record.