Launch Credit Union Merger Vote

On behalf of the board of directors of Launch Credit Union, I am pleased to share we have received regulatory approval to pursue a merger with Suncoast Credit Union. We are excited to have this opportunity to grow Coast to Coast! This strategic partnership will bring together two well-respected, member-owned financial institutions serving communities across Florida. Launch is a strong and healthy organization, and this merger strengthens our ability to support members and make a bigger impact in the communities we serve now and well into the future.

To recognize its members, immediately prior to the merger, Launch will give back $15 million to eligible members as a Special Patronage Dividend. Additionally, through its existing foundations, which have a strong history of supporting education, health, and the emotional well-being of local children, Suncoast is making significant commitments to Brevard and Volusia Counties totaling $5 million to support scholarships, a food bank, and affordable housing initiatives.

Earlier this year Launch Credit Union’s board of directors unanimously voted in support of this merger. Now that we have also received regulatory approval, the final approval is up to you. You are being asked to vote on a proposal for a merger with Suncoast Credit Union. Unlike bank mergers that are designed to make money for stockholders, this merger represents a partnership between two Florida credit unions that are committed to members, employees, and the communities they serve.

Your vote is important, and the proposed merger between Launch Credit Union and Suncoast Credit Union must be approved by a majority of Launch Credit Union members who vote on the proposal. For members other than natural persons, such as businesses or trusts, the authorized agent of record for your account may vote on behalf of the entity.

We look forward to this next important step in serving your best interests and financial needs. If you have questions, please don’t hesitate to call us at (800) 662-5257 or email memberquestions@launchcu.com. You can also find more information about this proposed merger at https://www.launchcu.com/growing-together-coast-to-coast/.

We recommend that you vote to “APPROVE” the proposed merger with Suncoast Credit Union.

Thank you for your membership! We’re excited to Ignite a Bright Future for our members, employees, and the communities we serve.