Press Release
FAIRWINDS Credit Union Completes Acquisition of Friends Bank
ORLANDO, FL – FAIRWINDS Credit Union today completed the successful acquisition of Friends Bank, a community financial institution with locations in Edgewater, New Smyrna Beach and Ormond Beach, further expanding the credit union’s footprint in Volusia County.
In addition to retaining current Friends Bank employees, FAIRWINDS will maintain all three of the bank’s branches, offer expanded hours and increase staffing at these locations. All Friends Bank accounts are expected to be transitioned to FAIRWINDS’ data processing systems in January 2020.
“As we carry on Friends Bank’s legacy of community involvement and exceptional customer service, FAIRWINDS is committed to working with our new members to ensure a seamless transition,” said Phil Tischer, COO of FAIRWINDS Credit Union. “We’re excited to officially welcome Friends Bank clients into the FAIRWINDS family and look forward to offering them the full suite of benefits that comes with credit union membership.”
With the merger complete, FAIRWINDS has doubled its number of branch locations in Volusia County and established a new presence in the county’s eastern region. Members will have access to a robust online banking platform that empowers them to easily access their money and account information, and may conduct business at the 32 FAIRWINDS branch locations across Central Florida.
As the credit union continues to receive national and regional recognition for its exceptional product offerings, customer service, employee benefits and workplace culture, the acquisition supports FAIRWINDS’ continued growth. Recognized by Forbes as one of America’s Best Credit Unions in June, FAIRWINDS ranked among the top 3% of U.S. financial institutions for overall customer satisfaction, consumer trust, branch services and financial advice.
FAIRWINDS Credit Union was represented in this transaction by Shutts & Bowen LLP as legal counsel and Skyway Capital Markets as financial adviser. Friends Bank was represented by Smith Mackinnon PA as legal counsel and Hovde Group LLC as financial adviser.
###
FAIRWINDS Credit Union, led by President and CEO Larry Tobin, is headquartered in Orlando and is consistently ranked as one of the best financial institutions and employers in the region. Founded in 1949, the company has 619 employees. At FAIRWINDS, we want our members to achieve financial freedom. To do this we encourage our members to save more, eliminate debt, build wealth, and live generously, supporting them every step along the way. FAIRWINDS empowers members to pursue and achieve their personal and business goals by offering products and services that promote healthy spending and saving habits.