Eleven years after the now-defunct Eastern Airlines first flew the skies from its Miami-based hub, a credit union chartered to serve the carrier's employees made its debut.
Originally chartered in 1937, for more than 70 years, Eastern Financial Florida Credit Union built its presence alongside its airline sponsor, which started operating in 1926 and shut down for good in 1991 after succumbing to financial woes, layoffs, strikes and eventually bankruptcy. On May 3, at branches across South Florida, the lights went out on the Eastern Financial Florida Credit Union name.
The change is the next phase following a merger with the $1.6 billion Space Coast Credit Union in June 2009. EFFCU had been operating as a division of Space Coast and combined, the $3 billion cooperative served more than 350,000 members, had 60 branches and 140 ATMs, making it the third largest CU in the Sunshine state. It now serves members in 17 counties in Florida.
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