PenAir Credit Union to purchase Service 1 Federal Credit Union branch in Mobile, AL

Pensacola, Florida (October 24, 2025) – PenAir Credit Union (PenAir) has agreed to purchase certain assets related to Service 1 Federal Credit Union’s (Service 1 FCU) branch in Mobile, Alabama.

The transaction between the Michigan-based Service 1 FCU and Florida-based PenAir is expected to be completed by Jan. 1, 2026, and includes assets related to the operation of the Service 1 FCU facility in Mobile, Alabama. Branch employees also will become part of the PenAir organization.

“The Gulf Coast has been our home since 1936, and we’re excited to deepen our roots with the Service 1 FCU Mobile branch, employees, and members,” said Lee Morgan, president and CEO at PenAir. “With its proximity to our headquarters in Pensacola, we can effectively enhance products, services, and opportunities for both members and employees. In fact, members will gain access to more products and services, a larger network of branches, ATMs across the Gulf Coast, and enhanced digital banking tools.”

PenAir operates three other branches near Mobile in the eastern Alabama area, which will provide additional synergies, benefiting members around the community, Morgan added. Kim Bourdo, CEO at Service 1 FCU, is pleased with the partnership.

“PenAir is the right choice to partner with as it’s a nearby, well-respected credit union that is known for its member-first service,” Bourdo said. “It maintains a positive workplace culture with a strong alignment of values and is dedicated to giving back in their communities. PenAir has the local staff, resources, and commitment to give the Mobile community the close support it deserves.”

All Service 1 FCU employees working in Mobile have been offered jobs at PenAir Credit Union. “The same friendly staff you know, and trust will continue serving you at the Mobile branch,” Morgan said.

No other PenAir or Service 1 FCU jobs or branches are intended to be affected by this transaction.