Achieva Credit Union announced Tuesday it signed a definitive agreement to acquire Calusa Bank, a Florida state-chartered bank in Sarasota and Charlotte counties with $165 million in assets. This would be the first acquisition of a bank by a credit union in Florida, and the seventh nationally. This merger will bring Achieva’s total number of branches to 24 and total assets to $1.3 billion.Established in 2007, Calusa has four branches in North Port, Port Charlotte, Punta Gorda and Venice. All four branches will continue to operate as branches of Achieva after the sale is finalized later this year.

“As we expand our presence on the Gulf Coast, we are excited to be able to offer Calusa Bank customers the tremendous benefits that come from being members of Achieva Credit Union,” said Achieva CEO Gary Regoli. “We are also looking forward to becoming an integral part of these great Florida communities. Being strong partners in all the communities where we have members is a big part of who we are as an institution.”

Achieva Credit Union