Sarasota Coastal Credit Union
Encyclopedia
Sarasota Coastal Credit Union (now Achieva Credit Union), was a state chartered credit union
and was regulated under the authority of the National Credit Union Administration
(NCUA). On November 1, 2009, Sarasota Coastal Credit Union merged with Achieva Credit Union, which is headquartered in Clearwater, Florida. The merger created a credit union with more than $800 million in assets and more than 90,000 members in seven counties. Before the merger, Achieva had members throughout Pinellas, Pasco, Hernando and Hillsborough counties while Sarasota Coastal Credit Union served members throughout Manatee, Sarasota, and Charlotte counties.
Like Sarasota Coastal, Achieva Credit Union was started as a teacher’s credit union in 1937 in Pinellas County. Throughout the years, their field of membership and number of counties served has expanded. The merger is seen as an excellent fit between the two credit unions, as the membership base is similar and the combined field of membership now encompasses counties from Hernando to Charlotte on the West Coast of Florida.
Sarasota Coastal Credit Union members voted their approval of the merger in a Special Member meeting, held in Sarasota on Oct. 26, 2009. "We are pleased that the members of Sarasota Coastal Credit Union have voted in favor of merging, and we look forward to working with them throughout the entire consolidation process," said Gary Regoli, President and CEO of Achieva. "The combined strengths of the two credit unions will provide even greater benefits to all of our members."
The credit union is a member of the Florida Credit Union League, through which it is associated with the Credit Union National Association
.
s, checking accounts, IRA accounts
, and certificates of deposit
, as well as consumer loan
s, credit card
s, mortgages, home equity loan
s and HELOC
s.
Sarasota Coastal Credit Union (now Achieva Credit Union), had five branch locations within Sarasota, Manatee, and Charlotte counties. And there were eight Achieva Credit Union locations throughout Pasco and Pinellas counties. Since the merger, there are now thirteen Achieva Credit Union branch locations throughout Pinellas, Pasco, Manatee, Sarasota and Charlotte counties.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
and was regulated under the authority of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA). On November 1, 2009, Sarasota Coastal Credit Union merged with Achieva Credit Union, which is headquartered in Clearwater, Florida. The merger created a credit union with more than $800 million in assets and more than 90,000 members in seven counties. Before the merger, Achieva had members throughout Pinellas, Pasco, Hernando and Hillsborough counties while Sarasota Coastal Credit Union served members throughout Manatee, Sarasota, and Charlotte counties.
History
On December 12, 1953, seven school teachers came together and signed a Certificate of Organization to form the credit union. The original amount of $130 used to organize the credit union was deposited by those seven individuals. The name of the credit union started as The Sarasota County Teacher’s Credit Union. In the years that followed, Sarasota Coastal adopted its current name in response to mergers with other credit unions, the inclusion of Sarasota County employees, and other select employer groups.Like Sarasota Coastal, Achieva Credit Union was started as a teacher’s credit union in 1937 in Pinellas County. Throughout the years, their field of membership and number of counties served has expanded. The merger is seen as an excellent fit between the two credit unions, as the membership base is similar and the combined field of membership now encompasses counties from Hernando to Charlotte on the West Coast of Florida.
Sarasota Coastal Credit Union members voted their approval of the merger in a Special Member meeting, held in Sarasota on Oct. 26, 2009. "We are pleased that the members of Sarasota Coastal Credit Union have voted in favor of merging, and we look forward to working with them throughout the entire consolidation process," said Gary Regoli, President and CEO of Achieva. "The combined strengths of the two credit unions will provide even greater benefits to all of our members."
Membership
Eligibility for Achieva Credit Union membership is open to anyone who is related to a current Achieva member; or individuals, trusts, associations, organizations and legal entities who live or work in Pinellas, Pasco, Hernando, Manatee, Charlotte, Sarasota and Hillsborough counties, excluding individuals and entities who live or work in ZIP codes 33565, 33566 and 33567.Organization
Like all credit unions, Sarasota Coastal Credit Union (now Achieva Credit Union), is governed by a volunteer Board of Directors, elected by and from its membership. The Board has seven members, who serve for three-year terms. Board members can be re-elected to consecutive terms by the membership.The credit union is a member of the Florida Credit Union League, through which it is associated with the Credit Union National Association
Credit Union National Association
The Credit Union National Association, commonly known as CUNA , is a national trade association for both state- and federally-chartered credit unions located in the United States. CUNA provides member credit unions with trade association services, such as lobbying, professional development, and...
.
Services
Sarasota Coastal (now Achieva) offers savings accountSavings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
s, checking accounts, IRA accounts
Individual Retirement Account
An individual retirement arrangement is the blanket term for a form of retirement plan that provides tax advantages for retirement savings in the United States...
, and certificates of deposit
Certificate of deposit
A certificate of Deposit is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions....
, as well as consumer loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
s, credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
s, mortgages, home equity loan
Home equity loan
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. These loans are useful to finance major expenses such as home repairs, medical bills or college education...
s and HELOC
HELOC
A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period , where the collateral is the borrower's equity in his/her house...
s.
Sarasota Coastal Credit Union (now Achieva Credit Union), had five branch locations within Sarasota, Manatee, and Charlotte counties. And there were eight Achieva Credit Union locations throughout Pasco and Pinellas counties. Since the merger, there are now thirteen Achieva Credit Union branch locations throughout Pinellas, Pasco, Manatee, Sarasota and Charlotte counties.