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Volume 6 | Issue 2 | February 2023
Our Mission: Providing financial solutions for every stage of life.

Dear Valued Member,

A recent news headline reporting that Jacksonville’s population has eclipsed 1 million confirmed what we have been seeing at Community First for some time — our region is vibrant and growing. In 2022, we saw that growth in the addition of more than 15,000 new members and record-breaking demand for loans to help members with everything from purchasing new homes to starting new businesses. And we continue to see it in your feedback about the need for additional locations in growing neighborhoods.

As a people-driven organization whose purpose is to help our members live their best lives, Community First has been working hard to meet the needs of an increasing population for banking services. At the same time, we recognize that growth alone isn’t what makes a strong community — or a strong credit union. That requires growth with a purpose, which has been Community First’s guiding principle as we look for opportunities to support and help drive our region’s vibrancy.

You’ll see more about how we’re growing with a purpose in our annual report, which will be published in March. In addition to membership growth of more than 6 percent and loan growth of 20 percent, we reached new highs for deposits, total assets and income. We also added front-line employees who directly serve our members; our Investment Services team set a new high for helping members invest and manage their money; and we continued to grow our community engagement programs.

Perhaps the most visible aspect of our growth has been the addition of new branches, as we have taken a strategic approach to deciding where and how to respond to the growing need for neighborhood banking services. By analyzing our membership and branch activity, along with demographic trends, we identified two neighborhoods where we will be adding branches in 2023, and another where we plan to make an announcement later in the year. We also plan to add ATM locations and continue to add staff as necessary to meet members’ needs.

In addition to establishing a presence in neighborhoods where we haven’t had a branch in the past, we want to ensure we’re growing along with the neighborhoods we already serve. In January, we opened a new location in Mandarin, where we established our first expansion branch nearly 30 years ago. Replacing the old location, the new branch at 11200 San Jose Blvd. is bigger, more attractive and offers drive-through service as well as a walk-up ATM. If you visit our Mandarin location, you’ll immediately notice something featured at all of our new branches — a mural reflecting the history of the neighborhood.

The two new branches planned for this year are in Northpoint and Boulevard Crossing. We’re going to break ground Feb. 7 at the Northpoint location, which will be our 20^th branch. Adjacent to the newly opened Publix supermarket at Northpoint Village, the branch will be a 3,300-square-foot stand-alone facility with a drive-through window and an open, contemporary floor plan. We chose Northpoint to fill a need we identified for neighborhood branch banking and ATM services in this growing area of the city.

The new Boulevard Crossing branch is expected to open later this year in a strategic location between two of our busiest existing branches — Lakewood and Arlington. The new 2,500-square-foot facility will anchor a small shopping center near the intersection of Beach and University boulevards.

Population growth isn’t confined to Duval County, of course, and we’re keeping an eye on opportunities in adjacent counties where we can fill gaps in the availability of banking services. St. Johns County is an area we have been evaluating for some time, and I am pleased to report that we will soon be announcing plans to build a free-standing branch at a St. Johns location. Stay tuned for more news about that exciting development.

Meanwhile, we’ve been working hard to identify sites for additional drive-through ATMs, with three additional locations already slated to open in the next six to nine months. The first to open will be in the Walmart parking lot on San Jose Boulevard in Mandarin, not far from our relocated Mandarin branch. We also will be installing a drive-through ATM in Riverside near our branch in that neighborhood and on Phillips Highway near Baymeadows later this year.

These are some of the many ways Community First is pursuing growth with a purpose and meeting the banking needs of a vibrant city and region. It has been tremendously rewarding for all of us at your credit union to be on this journey with you, as we work to enhance the lives of our 168,000 members. ■