Gulf Winds Credit Union Announces Acquisition of Madison County Community Bank
Pensacola, FL (August 25, 2026) | Today, Gulf Winds Credit Union (Gulf Winds) announced plans to operate under a new name and identity: TruWorth Credit UnionTM. The creation of TruWorth Credit Union represents the belief that people are more than the transactions they make, and that banking should remain personal, trusted, and centered around community. This rebrand is expected to take effect in the Spring of 2027.
In addition to the rebrand, Madison County Community Bank (MCCB), headquartered in Madison, Florida, its parent holding company, Madison Community Bancshares Corporation, headquartered in Madison, Florida, and Gulf Winds, jointly announced today that they have entered into a definitive agreement pursuant to which Gulf Winds will acquire MCCB (the proposed “Transaction”), bringing together two community-focused financial institutions with a shared commitment to trusted relationships, local service, and long-term philanthropic impact.
Upon completion of the proposed Transaction, Gulf Winds will add approximately $200 million in assets as well as MCCB’s two branches, located in Madison and Perry, Florida, bringing the combined organization’s expected total asset size to over $1.7 billion and its retail network to 15 locations across Florida and Alabama. Together, the organization will serve more than 87,000 members, driving financial success and prosperity for all.
Leadership emphasized that throughout this transition, the values that define the institutions will remain the same, creating a stronger foundation for future growth, innovation, and service.
Leadership officials said that throughout this transition, the values that define the institutions will remain the same, creating a stronger foundation for future growth, innovation, and service.
Statement from Gulf Winds Credit Union
“This new identity is about putting a name to what Gulf Winds and Madison County Community Bank have always believed: people come first,” said Daniel Souers, President and CEO of Gulf Winds. “As a full-service financial provider serving first-time savers, growing families, small business owners, and future retirees, TruWorth Credit Union will be dedicated to helping people move forward for generations to come.”
Statement from Madison County Community Bank
“Madison County Community Bank was founded on a simple belief: people deserve a bank they know and trust,” said D. Edward Meggs, Sr., President and CEO of Madison County Community Bank. “That belief remains at the heart of this decision. TruWorth Credit Union will allow us to carry the best of Madison County Community Bank forward while combining our strengths with Gulf Winds’ strengths to create something even bigger for the future. This is not about leaving our history behind. It is about honoring it by building upon it.”
TruWorth Credit Union will be built around a simple promise: We See Your True Worth.
The proposed Transaction is contingent on approval by Madison Community Bancshares Corporation shareholders, the receipt of all required regulatory approvals, and the fulfillment of all customary closing conditions.
Final regulatory approval is expected in mid-2027. The two organizations are expected to be fully integrated by the beginning of 2028.
Gulf Winds is being advised in the proposed Transaction by CEO Advisory Group and McQueen Financial Advisors as financial advisors and Luse Gorman, PC as legal counsel. Madison Community Bancshares Corporation was provided a Fairness Opinion for the Transaction by Performance Trust Capital Partners, LLC and Smith Mackinnon, PA served as its legal counsel.
About Gulf Winds Credit Union
Back in 1954, starting with just a few employees, we began helping members with their financial goals. Since then, we have successfully opened numerous new branches, started a contact center, instituted digital banking, completed multiple mergers, started our own foundation, and expanded our reach to a three-state area. Along the way, we’ve grown to carry more than 1 billion in assets and serve more than 73,000 members. From daily banking needs to investment services, our members aren’t treated like an account number, but as part of the family.
About Madison Community Bank
Back in 1954, starting with just a few employees, we began helping members with their financial goals. Since then, we have successfully opened numerous new branches, started a contact center, instituted digital banking, completed multiple mergers, started our own foundation, and expanded our reach to a three-state area. Along the way, we’ve grown to carry more than 1 billion in assets and serve more than 73,000 members. From daily banking needs to investment services, our members aren’t treated like an account number, but as part of the family.
About McQueen Financial Advisors
McQueen Financial Advisors is an SEC-registered investment advisory firm, specializing in three specific areas of the business. Investment management, Asset Liability Management and CECL, and Mergers and Valuations. Our Investment team manages over $16 billion in investment portfolios for our clients, including financial Institutions, foundations and nonprofits, and individuals. The investment team includes world-class credit analysis and reporting. Our Asset Liability Management team provides a full suite of reporting to our clients who are in nearly every state in the country. Reporting includes IRR, liquidity, concentration, prepayment, and core deposit studies. Our Valuation and Advisory services provide merger valuation reporting, advisory services, and MSR valuations. This area is consistently a leader in advisory services nationwide.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Christian Aberlade
Vice President
Jeremiah Vroman
Senior Analyst