MidFlorida Credit Union will absorb the smaller company's assets.
Tampa-based Bay Gulf Credit Union is responding to the recession by merging with a larger local company. Lakeland's MidFlorida Credit Union will absorb the Tampa firm's eight branches and roughly 20,000 members.
The merger will give MidFlorida, with 25 branches and 128,000 members of its own, roughly $1.6 billion in assets to manage, according to a release.
Customers of either credit union should not expect any change in service, the release said.