Mmastodon BusinessBanking first seen 18 h ago, last 5 h ago, peak #3

Gulf Winds Credit Union to buy second bank in a month

Original: Florida credit union to buy 2nd bank in a month Gulf Winds Credit Union agreed to buy Madison County Community Bank in A

Gulf Winds Credit Union, based in Florida, has agreed to acquire Peoples Exchange Bank in Alabama, its second bank purchase in a month after a deal for Madison County Community Bank in August. The credit union is expected to rebrand next year, and the rapid string of acquisitions is drawing attention as credit unions increasingly move into traditional banking territory.

Why now: Credit unions buying banks is a notable and somewhat controversial trend in the financial industry, and two deals in one month is unusual.

Gulf Winds Credit UnionPeoples Exchange BankMadison County Community Bank

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Evidence

• Florida credit union to buy 2nd bank in a month Gulf Winds Credit Union agreed to buy Madison County Community Bank in August. Now it’s following up with a deal for Alabama’s Peoples Exchange Bank before a scheduled rebrand next year. https://www. bankingdive.com/news/gulf-wind… · AlexJimenez@mas.to · 1

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