Cornerstone Advisors, Inc. announced today that Space Coast Credit Union recently engaged Cornerstone to provide systems conversion and integration management for its merger with Eastern Financial Florida Credit Union.
(PRWEB) November 16, 2009 -- Cornerstone Advisors, Inc. announced today that Space Coast Credit Union, headquartered in Melbourne, Fla., recently engaged Cornerstone to provide comprehensive systems conversion and integration management for its merger with Eastern Financial Florida Credit Union in Miramar, Fla.
With more than 60 branches and over 145 ATMs along the Interstate 95 corridor in Southeast and East Central Florida, the combined $3.2 billion institution will provide services to 360,000 members serving 2,200 select employee groups.
“Cornerstone is excited to be a part of this largest-ever credit union merger,” said Cornerstone Principal Steve Williams. “Space Coast has an impressive track record of performance, and we look forward to putting our proven expertise with large mergers to work for their team.”
Bill McFarland, Managing Director for Cornerstone’s Conversion Services practice, observed that Cornerstone’s merger/integration team comprises senior managers with an average of 35 years of industry experience who have collectively managed hundreds of successful mergers and conversions in their careers. “Our methodology employs an understanding of the entire organization rather than focusing just on the system conversion,” he said.
Cornerstone Advisors provides strategic planning, benchmarking, process improvement, contract negotiation, technology, merger/conversion and risk management consulting services to mid-size banks and credit unions.
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