JACKSONVILLE, Fla. – Alive CU, the former Blue Cross credit union known till last month as Healthcare’s Cooperative CU, is expanding outside of healthcare facilities with a deal to buy two stand-alone branches from Space Coast CU.
The purchase of the two Jacksonville branches will grow Alive’s branch network, most of which are inside health care facilities, to 11. The $110 million credit union, originally BlueCross BlueShield Employees's CU, changed its name last month as part of a rebranding campaign to reach out to a broader field of membership.
The deal is the latest by Space Coast to shed unwanted branches, following December’s unprecedented sale of six branches and 16,000 member accounts it had acquired in the 2009 purchase of Eastern Financial Florida CU to MidFlorida CU.
The sale of Space Coast’s only Jacksonville branches must still be approved by NCUA.