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Jax Federal Credit Union to serve more residents

JACKSONVILLE -- The city's primary credit union for federal employees will start serving the community at large, making it the latest occupational credit union to shift to more general residency requirements for membership.

Jax Federal Credit Union's old guidelines permitted only federal employees or workers at one of the credit union's partner organizations to join. Now, it is open to anyone who lives or works in Baker, Clay, Duval, Nassau or St. Johns counties.

Jax Federal, the fourth largest credit union in the market at $285 million in assets and 29,000 members, joins the other top three credit unions in Jacksonville -- VyStar Credit Union, Community First Credit Union of Florida and Florida Telco Credit Union -- that base membership on residency, rather than an occupational or employment requirement. Florida Telco serves residents of the five-county area as well as telecommunications industry employees throughout the state.

Jax Federal's charter change comes after 18 months of review by federal regulators, and more than two years after the credit union's board began discussing the possibility, CEO Gerri Sexsion said.....for more of the story