DFCU Financial completes First Citrus Bank acquisition
DEARBORN, MI (January 3, 2023) — DFCU Financial and First Citrus Bank have closed on their previously announced business combination and are now branded as DFCU Financial. This transaction creates a stronger and more comprehensive financial institution for its members.
“We are enthusiastic about this partnership and are committed to providing the exceptional level of service and support that our Florida and Michigan members have come to expect from both entities,” said Ryan Goldberg, President & Chief Executive Officer at DFCU Financial. “Together, we will offer our Florida members an enhanced banking experience with expanded product offerings, like mortgages, consumer loans, and investment services.”
Within Florida, DFCU Financial will primarily serve people who live, work, worship or attend school in and around Tampa, in Hillsborough, Pinellas, Pasco, Polk, Manatee, and Sarasota counties. All legacy First Citrus Bank account holders will be members of DFCU Financial, and services will continue uninterrupted at all six offices. DFCU’s full product and service offerings will be available at all locations after a full systems integration in mid-2023.
At DFCU Financial, former First Citrus Bank President & Chief Executive Officer John M. Barrett has been named Florida Market President and Chief Commercial Services Officer. In this leadership role, Barrett will grow the Florida market and lend his extensive business banking expertise to direct commercial banking in Florida and Michigan.
“Our combined full suite of products and services parlays well into helping Michigan and Florida families become more financially secure and businesses economically successful,” said Barrett.
About DFCU Financial
Founded in 1950 and headquartered in Dearborn, Michigan, DFCU Financial is one of the top performing credit unions in the country with assets of approximately $6.3 billion and a net worth of about $850 million, serving more than 240,000 members. DFCU is committed to its members and the communities they serve, operating 28 full-service branches in metro Detroit, Ann Arbor, Grand Rapids, and Lansing, MI, and six in the Tampa Bay area, staffed by local financial specialists qualified to help members and businesses achieve important financial milestones. Recognized by Forbes as one of the Best-in-State credit unions and by Newsweek Magazine as a Top Credit Union in the Nation, DFCU is known for its member Cash Back program, which over 18 consecutive years has paid out an aggregate total of more than $470 million. To find out more please visit www.dfcufinancial.com.
