VyStar completes acquisition of 121 Financial Credit Union, growing in Northeast Florida
JACKSONVILLE, FL (March 1, 2024) — VyStar Credit Union announced today it has completed its Merger Agreement with 121 Financial Credit Union. As of March 1, 2024, 121 Financial is officially operating as a division of VyStar Credit Union. The transaction was completed following standard closing conditions, a positive 121 member vote and regulatory agency approval.
“We are delighted that our two Jacksonville hometown credit unions have come together to serve our members and our community,” said VyStar President/CEO Brian Wolfburg. “We are committed to continuing the legacy of 121 Financial by offering member-centric service, best-in-class products and increased access to financial services in Florida and Georgia.”
121 Financial has served Northeast Florida residents since 1935 and has approximately 50,000 members and $709 million in assets. 121 Financial was founded during the Great Depression as Florida Telco Credit Union and was one of the first credit unions in the United States.
In fall 2024, all 121 Financial accounts will be converted to VyStar accounts. Until then, 121 Financial members will continue to visit 121 Financial branches, use 121 Financial Online Banking or call the 121 Financial contact center.
“We want to recognize David Marovich for his leadership,” said VyStar President/CEO Brian Wolfburg. “David has been President and CEO of 121 Financial Credit Union for more than four years and has spent over 17 years serving our community at 121 Financial.”
VyStar grows because it expands our ability to Do Good. Last year, the credit union opened six new branches, including the first in Metro Atlanta. The credit union plans to open three additional branches in Georgia and three branches in Florida this year. VyStar donated more than $6.6 million to over 400 nonprofit organizations and employees contributed more than 32,000 volunteer hours in 2023 in the communities it serves.
For more information, visit vystarcu.org/121financial
About VyStar Credit Union
VyStar Credit Union is the second-largest credit union headquartered in Florida, with over 80 branches and now serves more than 975,000 members with assets of over $14 billion. VyStar is the largest mortgage lender in Northeast Florida and a major employer in the region with over 2,500 employees across the communities it serves. VyStar membership is open to everyone who lives or works in the 49 contiguous counties of Central to North Florida, 29 Georgia counties, and past and present military members and their families all over the world. For more information, visit vystarcu.org, and follow us on Facebook, Instagram, X (Twitter), and LinkedIn.
