JACKSONVILLE, FLA. – Two long-standing, Jacksonville-based credit unions have announced plans to partner in forming a larger, stronger institution with almost 60,000 members throughout Florida. First Florida Credit Union (FFCU), established in 1950, and Jacksonville Postal & Professional Credit Union (JPPCU), originally chartered in 1929, recently signed an “intent to merge” agreement. The proposed merger would bring 2,600 new members to FFCU while helping both credit unions meet strategic objectives, said FFCU President and CEO Brent Lister.
“The proposed merger represents two financially healthy institutions with similar philosophies coming together to build strength in one of our state’s key markets,” Lister said. “The merger would increase products and services available to JPPCU members, while helping FFCU expand its field of membership to include postal and other professional industries.”
The merger also helps further FFCU’s goals of smart growth as outlined in its 2025 Strategic Plan, Lister said. Downtown Jacksonville-based FFCU currently includes approximately 57,000 members and 200 employees, and is ranked among the top 20 Florida-based credit unions with $1.3 billion in assets. JPPCU, headquartered in the city’s Arlington area, has more than 2,600 members and assets of almost $47 million. While regulatory review is currently underway, a vote on the merger by members is not planned until early September 2022.
FFCU has been recognized by DepositAccounts.com as one of the Top Healthiest Credit Unions in America. It offers a wide variety of benefits to its members including loans, investment services, and digital banking. With multiple locations throughout Florida and a shared branching network that provides nationwide reach, First Florida Credit Union gives its members the broad access and flexibility that enables them to meet all their financial needs.
Headquartered in Jacksonville, FFCU operates 17 branches throughout the state of Florida. The organization’s guiding principle is to support its members’ financial aspirations by providing affordable financial products and services with outstanding member service.
For more information, please visit FirstFlorida.org.