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Posted on: August 14, 2018 at 4:04 PM
Categorized in: MIDFLORIDA History

2018 First Half Financial Update

Financial results are in for the first two quarters of 2018, and we’re off to a fantastic start.

We’re proud to announce that assets at the close of the second quarter totaled $3.24 billion—up almost $190 million for the year! The credit union had a record-breaking second quarter, bringing our net income for the first half of the year to just over $20 million.

Our success is largely attributed to continued growth in the greater Orlando and Tampa areas, following the opening of six Orlando-area branches in 2017 and a new South Tampa branch in February 2018. As of June 30, the credit union has added 16,000 new members this year, with membership now totaling more than 300,000!

What’s to come?

We anticipate continued momentum throughout the remainder of 2018 and into 2019. By early next year, we will be opening two new branches in St. Lucie County and our first Hernando County-based branch in Spring Hill.

Article by Zelda V. Abram, Chief Financial Officer, who has more than 20 years of experience in the industry.