VyStar Credit Union
Encyclopedia
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. As of 2010, VyStar had $4.2 billion in assets, approximately 380,000 members, and 30 branches.
. 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.
in 2007 and formed the VyStar Academy of Business and Finance. The course teaches skills related to the financial services
and business management industries.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Jacksonville, Florida
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
and regulated under the authority of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA). VyStar is Northeast Florida's largest credit union. As of 2010, VyStar had $4.2 billion in assets, approximately 380,000 members, and 30 branches.
History
VyStar was chartered on April 29, 1952 as Jax Navy Federal Credit Union at Naval Air Station JacksonvilleNaval Air Station Jacksonville
Naval Air Station Jacksonville or NAS Jacksonville is a military airport located four miles south of the central business district of 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
Baker County, Florida
Baker County is a county located in the U.S. state of Florida. As of 2000, the population was 22,259. The U.S. Census Bureau 2008 estimate for the county is 26,164 . Its county seat is Macclenny, Florida. While primarily rural, the county is included in the Jacksonville Metropolitan Area.-...
, Clay
Clay County, Florida
Clay County is a county located in the U.S. state of Florida. As of 2010, the population was 190,895. Its county seat is Green Cove Springs, Florida. Clay County is part of the Greater Jacksonville Metropolitan area.- History :...
, Duval
Duval County, Florida
Duval County is a county located in the U.S. state of Florida. As of 2010, the population was 864,263. Its county seat is Jacksonville, with which the Duval County government has been consolidated since 1968...
, Nassau
Nassau County, Florida
Nassau County is a county located in the state of Florida. As of 2000, the population was 57,663. The U.S. Census Bureau 2008 estimate for the county was 69,835. Its county seat is Fernandina Beach, Florida....
, and St. Johns
St. Johns County, Florida
St. Johns County is a county located in northeastern Florida. As of the 2010 census, the population was 190,039. The county seat is St. Augustine. Due to the inclusion of Ponte Vedra Beach, it is one of the highest-income counties in the United States....
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
Bartram Trail High School
Bartram Trail High School is a public high school in the St. Johns County School District, located in northwest St. Johns County, Florida that opened in 2000...
. 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.
VyStar Academy of Business and Finance
VyStar partnered with Bartram Trail High SchoolBartram Trail High School
Bartram Trail High School is a public high school in the St. Johns County School District, located in northwest St. Johns County, Florida that opened in 2000...
in 2007 and formed the VyStar Academy of Business and Finance. The course teaches skills related to the financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
and business management industries.