VyStar completes acquisition of First Coast Federal Credit Union, growing in Northeast Florida
JACKSONVILLE, FL (January 9, 2023) — VyStar Credit Union announced today it has completed its Merger Agreement with First Coast Federal Credit Union, a federally chartered credit union headquartered in Jacksonville, Florida. The transaction was completed following standard closing conditions, a positive First Coast member vote and regulatory agency approval.
“As we welcome First Coast Federal members to VyStar, we look forward to offering them a wide variety of benefits, including great rates, low or no fees, unique product offerings and access to friendly service from employees in Florida and Georgia,” said VyStar President/CEO, Brian Wolfburg. “As part of our long-term growth plan, we will continue to look for strategic opportunities that bring additional benefits and convenience to our growing membership and communities.”
First Coast Federal Credit Union has served Northeast Florida residents since 1935 and has approximately 1,700 members and $11.2 million in assets. Members of the credit union consist of employees of Select Employee Groups (SEGs) and their families. VyStar, which has more than 860,000 members and over $13 billion in assets, will remain the 13th-largest credit union in the country by asset size.
First Coast Federal has one branch located in Jacksonville. VyStar employees began supporting the First Coast Federal team in 2022. Three VyStar employees provided in-branch support and member services throughout the acquisition process. First Coast Federal employees were also offered employment opportunities at VyStar. VyStar plans to utilize the branch to give back to local nonprofit organizations in support of its purpose to Do Good.
“VyStar has been a strong partner throughout the acquisition process and I know our members have a very bright future with the credit union,” said Marsha Hart, President, FCFCU Board of Directors.
To bring the benefits of credit union membership to more people, VyStar plans to open up to 25 branches across Florida and Georgia over the next several years. As VyStar continues to grow, so does its ability to give back to the places it calls home through charitable donations, volunteerism, board participation and more.
For more information, visit vystarcu.org.
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 top 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.
