Florida Regulator Approves Merger of Calusa Bank into Achieva CU

The Florida Office of Financial Regulation approved the merger of Calusa Bank (Punta Gorda, FL) into Achieva Credit Union (Dunedin, FL).

The order requires the consent of the National Credit Union Administration and the Federal Deposit Insurance Corporation.

Also, within six months after consummation of the merger and consolidation of assets and liabilities into Achieva, the Office of Financial Regulation is to be provided written documentation to verify that all existing depositors or borrowers of Calusa at the time of consummation of the transaction have either opted-in to become a member of Achieva or their account relationship has been moved to another financial institution, closed or paid off.

Read the order.