VyStar Credit Union

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VyStar Credit Union
Type Credit union
Industry Financial services
Founded 1952
Headquarters Jacksonville, Florida, U.S.
Key people Terry R. West, President & CEO
Products Savings; checking; consumer loans; mortgages; credit cards
Total assets $4.4B USD (2011)
Website vystarcu.org

VyStar Credit Union is a state-chartered credit union headquartered in Jacksonville, Florida and regulated under the authority of the National Credit Union Administration (NCUA). VyStar is Northeast Florida's largest credit union.[1] As of 2011, VyStar had $4.4 billion in assets, Over 405,000 members, and 30 branches.[2]

History[edit]

VyStar was chartered on April 29, 1952 as Jax Navy Federal Credit Union at Naval Air Station Jacksonville. Membership was originally open to military and civil employees and their families. Within five years, the credit union's assets exceeded $1.6 million and their membership expanded to over 6000. In 1975 Jax opened a second branch. By 1978, membership exceeded 60,000 and a third branch was opened. Over the years, membership and assets increased, reaching 111,000 members and $319 million in assets in 1986. Jax continued to open branches and increase its membership and in 2001 became a state-chartered credit union and changed its name to Jax Navy Credit Union. Early the next year, Jax Navy received permission from the State of Florida to accept members from people living or working in Baker, Clay, Duval, Nassau, and St. Johns counties. On Jax Navy's 50th anniversary, they changed their name to VyStar Credit Union. In September 2007, VyStar opened a branch in Bartram Trail High School. Vystar opened 6 branches in 2008, bringing its total number of branches to 32.

In 2008, VyStar acquired a license to operate a real estate agency through VyStar Financial Group, a subsidiary of the credit union.[3]

VyStar Academy of Business and Finance[edit]

VyStar partnered with Bartram Trail High School in 2007 and formed the VyStar Academy of Business and Finance. The course teaches skills related to the financial services and business management industries.[4][5]Since then, three other high school branches have opened at Fleming Island High School, Pedro Menendez High School, Samuel W. Wolfson High School, Jean Ribault High School, and Orange Park High School.[6]

References[edit]

  1. ^ Witkowski, Rachel. Jacksonville credit unions hurt by extra deposit insurance payments. Jacksonville Business Journal. 24 April 2009.
  2. ^ VyStar 2011 Annual Report. VyStar Credit Union Official Website.
  3. ^ Witkowski, Rachel. VyStar gets license to run its own real estate agency. Jacksonville Business Journal. 11 January 2008.
  4. ^ "Bartram Trail High School VyStar Academy of Business and Finance: Academy Description". www.stjohns.k12.fl.us. Retrieved 2009-12-05. 
  5. ^ Weeder, Roger (2007). "Students Run Bank at Bartram Trail". First Coast News. Retrieved 2009-12-05. 
  6. ^ "At Wolfson High's Academy of Finance, lessons come with extra credit". The Florida Times Union. Retrieved 2012-08-07. 

External links[edit]