Addition Financial Credit Union and Envision Credit Union Submit Merger Application to Regulators

/EIN News/ -- LAKE MARY, Fla. and TALLAHASSEE, Fla., March 25, 2025 (GLOBE NEWSWIRE) -- Addition Financial Credit Union and Envision Credit Union are pleased to announce they have submitted their merger application to the National Credit Union Administration (NCUA) and Florida’s Office of Financial Regulation (OFR). This marks a significant step forward in the planned merger of these two award-winning institutions, which aims to expand service to members across Central Florida, North Florida, and South Georgia.

Under the terms of the agreement, the combined credit union will continue to operate as Addition Financial Credit Union under the leadership of current President and CEO, Kevin Miller. Pending the approval by the NCUA and OFR, and an Envision Credit Union membership vote, the merger is expected to be finalized by the end of 2025.

Founded in 1937 and 1954 respectively, Addition Financial, based in Lake Mary, Florida, and Envision, based in Tallahassee, Florida, share similar histories, philosophies, and values. Both credit unions were created by small groups of educators seeking better financial options than those provided by banks.

“Submitting our merger application to the NCUA brings us one step closer to uniting our teams and building on our legacies of service,” said Darryl Worrell, President and CEO of Envision Credit Union. “Bringing Envision Credit Union into another people-first organization like Addition Financial will enable us to provide more access to services, broaden offerings of innovative products, and deliver personalized support to every member and future member.”

Kevin Miller, President and CEO of Addition Financial Credit Union added, “This merger application submission is a crucial milestone in our journey to better serve our members and communities. By joining forces with Envision Credit Union, we are poised to make an even greater impact to the areas our credit unions have served for the greater part of the last century.”

Both boards of directors and leadership teams unanimously support the merger. While Addition Financial and Envision will work in concert, the credit unions will remain separate entities until an anticipated approval vote by the Envision CU membership, later this year.

About Addition Financial Credit Union:

Addition Financial Credit Union is a trusted banking and financial education partner that members of the Central Florida community rely on to help them along their financial journey. Founded in 1937, Addition Financial is a not-for-profit financial cooperative headquartered in Lake Mary, Florida with assets approaching $3 billion. As a member-owned credit union, Addition Financial puts the financial well-being of its more than 185,000 members at the heart of everything it does. With 26 full-service branches, 11 student-run high school branches, and financial products designed to provide better saving and loan rates and lower fees, Addition Financial is constantly growing and evolving to meet the needs of its members. Addition Financial is the Official Financial Institution of the UCF Knights and owns the naming rights of the Addition Financial Arena on the University of Central Florida campus. Addition Financial was named as one of the “Best Credit Unions for 2025” by Newsweek and one of the “Best-In-State Credit Unions for 2024” by Forbes. For more information, visit AdditionFi.com. 

Envision Credit Union:

Founded in 1954 by Leon County educators, Envision Credit Union is a not-for-profit financial institution focused on providing personalized products and services of exceptional value to members at the lowest possible cost. Today, Envision serves more than 63,000 members across 19 counties in Florida and Georgia. In addition to the credit union’s unparalleled support of the local education community, it has been recognized by Florida Trend Magazine as a Best Place to Work for the past 2 years and was recently honored with the inaugural Legacy Partner Award by Second Harvest of the Big Bend. With over $880 million in current assets, it maintains a strong focus on giving back to education-based initiatives and upholding the credit union philosophy of people helping people. For more information, please visit EnvisionCU.com.

Contact:

Aaron Sanders		Hollie Maddox
Public Relations Specialist		COO
Addition Financial Credit Union		Envision Credit Union
asanders@additionfi.com		hmaddox@envisioncu.com
(904) 703-9278		850-942-9000

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc37ea94-a5a3-4f9c-b8c7-c4966777db26