Wikipedia

Draft:Community First Credit Union of Florida

Community First Credit Union of Florida
IndustryFinancial services
Founded1935
HeadquartersJacksonville, Florida
Key people
John Hirabayashi (CEO)
Total assets$2.72B
Number of employees
450

Community First Credit Union of Florida (CFCUF) is a member-owned, non-profit credit union headquartered in Jacksonville, Florida. It serves 172,800 members across 17 counties in Northeast Florida and operates 21 full-service branches with a workforce of 450 employees.[1] CFCUF was recognized as the 2022 Florida Credit Union of the Year by the League of Southeastern Credit Unions[2] (LSCU) in the $500 million in assets and over category.[3] As of 2023, Community First reported $2.72 billion in assets.[4]

History

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Founded in 1935, Community First Credit Union started in a high school basement as the Duval County Teachers Credit Union.[5] The credit union then changed its name to Educational Community Credit Union (ECCU) in 1980.[6] ECCU served residents of Duval, Clay, and St. Johns counties before expanding its charter to include Baker and Nassau counties in 2000.[7] In 2005, ECCU formally changed its name to Community First Credit Union, aiming to alter the perception of serving only educators and to expand and diversify its membership.[6] At the time, only 25 percent of CFCU's members were employed in education-related fields.[6]

Community First Credit Union expanded its downtown Jacksonville headquarters in 2019 with the purchase of the 32,300-square-foot, two-story Diamond-S building, a 1.7-acre lot, and the adjacent parking lot for $4.6 million.[8] Renovations on the expanded headquarters were completed in 2020 and now house operational and administrative offices for about half of headquarters staff.[8] Community First has been headquartered in downtown Jacksonville since 1935. In 2002, the credit union transitioned its Main Street Branch to a regular banking services branch while relocating its headquarters to the current location near the LaVilla School of the Arts.[8]

St. Johns County Teachers Credit Union Merger

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CFCUF (then known as ECCU) merged with St. John's County Teachers Credit Union in 2005, adding an additional 3,848 members and $14 million in assets with the merger.[5]

8 Flags Credit Union Merger

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After changing its name in 2005, CFCUF merged with 8 Flags Credit Union in August of that year, gaining 4,000 new members and $25 million in assets.[9]

Organization

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Sam Inman replaced John Hirabayashi as Chief Executive Officer of Community First on August 31, 2024, after Hirabayashi served for 28 years, taking the position in 1996.[10] Since taking the reins, Hirabayashi has grown CFCUF to $2.72 billion in assets, with 21 branch locations and an expanded downtown headquarters.[1] He heads a 7-person Executive team. Hirabayashi announced he will be retiring as CEO in 2024 but will remain in the position until his successor is found. A nation-wide search for the CFCUF's next CEO is currently underway.[11]

Community First is governed by its Board of Directors, a team of nine elected volunteers.[12] This team formulates the policies and guiding principles that drive the actions of CFCUF's management and staff. As credit union members themselves, the directors act in the collective best interests of fellow members.

Membership

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Originally, membership to Community First Credit Union of Florida was restricted to educators in Duval, Clay, and St. John's counties when it opened as the Duval County Teachers Credit Union. CFCU expanded its charter to include Nassau and Baker counties in 2000, before expanding to all current counties it serves.

Today, Community First Credit Union of Florida has 172,800 members and is open to any resident of the following 17 counties: Baker, Clay, Duval, Flagler, Nassau, Putnam, St. Johns, Brevard, Palm Beach, Seminole, Volusia, Orange, Indian River, St. Lucie, Martin, Lake, and Broward.[1] Membership is also open to any relative of an existing or eligible Community First member, as well as those employed by Brooks Rehab, Web.com, and Miller Electric Company.[13]

Sponsorships

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Community First Igloo

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In August 2021, Community First announced a 10-year naming rights agreement with the Jacksonville Icemen, officially renaming the Jacksonville Ice & Sportsplex purchased by the Jacksonville Icemen the Community First Igloo.[14] The facility was approved for a $10.6 million[15] renovation to be converted to the Community First Igloo, but the official transformation cost came in at closer to $18.5 million and was funded by local investors and city grants/loan money.[16]

The Community First Igloo officially opened to the public on June 6, 2023, and will serve as the official practice facility for the Jacksonville Icemen.[16] Renovations included a second ice rink, a sports bar, an Icemen training facility, new locker rooms, an esports center, and a new Jacksonville Sports Hall of Fame.[16]

Community First Seawalk Music Festival

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Community First has sponsored the Seawalk Music Festival since 2012, serving as the only title sponsor in the festival's history.[17] The festival is an annual 2-day music festival held in February at Jacksonville Beach, featuring local artists, vendors, and performers. The event is free and open to the public.

Jacksonville ZOOLights Festival

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Community First is an ongoing sponsor of the annual Jacksonville ZooLights Festival, which celebrated its 12th anniversary in 2023.[18] The event transforms the Jacksonville Zoo into a winter wonderland with more than 2 million lights and colorful backdrops and features musical performances, special characters, themed treats, and Santa Claus.[19]

The Florida Theatre

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In 2017, Community First became the first season-long sponsor of the Florida Theatre, initially entering into a three-year agreement.[20] The sponsorship has since continued, and CFCU remains an annual sponsor of the Florida Theatre.[21]

Community First Thanksgiving Day Classic 40th Anniversary

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The Community First Thanksgiving Day Classic celebrated its 40th anniversary in 2023, attracting nearly 5,000 participants to the annual half-marathon and 5k held in the Mandarin section of the city on Thanksgiving morning.[22] The event serves as a fundraiser for the Mandarin Food Bank.

Stuff the Bus with First Coast News

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Community First partners with First Coast News and the United Way of North East Florida for the annual Stuff the Bus school supply drive. The initiative supports 87 schools and over 57,000 students in the region, aiming to ensure all students have access to necessary supplies for academic success.[21]

Blue Zone Commitment

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In 2023, Community First expanded its collaboration with the Blue Zone Project-Jacksonville. This initiative, aimed at promoting healthier and longer lives within the community, now includes a focus on financial health alongside other wellness efforts.[21]

School of the Month

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In conjunction with Duval County and Clay County public schools, Community First recognizes outstanding schools through the School of the Month program. More than 30 schools are honored each year across various categories, highlighting their achievements and contributions to the community.[21]

Philanthropy

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Community First Cares Foundation

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The Community First Cares Foundation[23] was founded in 2013 as the non-profit arm of Community First Credit Union.[24] The foundation supports different nonprofits and causes in Northeast Florida that improve financial literacy, educational programs, health and wellness initiatives, and other underserved needs in the First Coast community.[24]

The Cares Foundation has partnered with the Jacksonville Public Education Fund since 2020 to provide a classroom grant program that funds $50,000 in grants to support teachers and students in Duval County.[25][3] Eligible Duval County teachers can apply for funds to support high-impact projects that will encourage student achievement and financial literacy. In 2022 alone, the partnership funded 127 classroom projects in Duval County public schools.[26]

Additionally, in 2022, the Foundation partnered with Pete's Bar in Neptune Beach to fund "Joys and Toys," a toy drive and fundraiser benefiting beaches-area nonprofits BEAM, The HEAL Foundation, and Beaches Go Green.[27]

In 2023, the Community First Cares Foundation provided grant support to a wide range of non-profit organizations, including:[28]

  • Stage Aurora – The Little Mermaid Jr.
  • Jacksonville Public Library Foundation
  • Jacksonville Public Education Fund (JPEF)
  • Clay County Education Foundation
  • INK! (Investing in kids)
  • BASCA (Building Abilities of Special Children & Adults)
  • Edward Waters University

Awards and Recognition

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CFCUF has been recognized throughout the years for its service and contributions to the Northeast Florida area. Some of the awards it has received include:

  • Induction into the Eddy Awards Hall of Fame as Educational Community Credit Union in 1997
  • Won the Statewide Community Involvement Award from the Florida Credit Union League as Educational Community Credit Union in 1999 for its contribution to the book "60 Ways the Internet Can Simplify Your Life"[29]
  • Clay County Honored Business at the 14th Annual Commissioner's Business Recognition Awards in Orlando, FL as the Educational Community Credit Union in 2001[30]
  • Awarded the Commissioner's Business Recognition Award from the Florida Commissioner of Education, Charlie Crist as the Educational Community Credit Union in 2002[31]
  • Named Number 11 nationwide in a poll published by the Credit Union Times in 2007
  • Awarded the University of North Florida's Excellence in Employee Development Award in 2007, 2008, and 2009[32][33]
  • Named the Employer of the Year by the Jacksonville Society for Human Resource Management at their 50th anniversary banquet in 2008.[1]
  • Awarded Medium Business of the Year by the Amelia Island-Fernandina Beach-Yulee Chamber of Commerce in 2008[34]
  • Recognized by the Florida Department of Education and awarded the Commissioner's Business Recognition Award in 2009[3]
  • Awarded the 2019 Diamond Award by the CUNA Marketing & Business Development Council in 2019[35]
  • Ranked as the Best Place to Work in the Extra-Large Company category by the Jacksonville Business Journal in 2019[36]
  • Recognized as "Credit Union of the Year" for 2020 by the League of Southeastern Credit Unions and Affiliates (LSCU)[37]
  • Recognized as the Florida Credit Union of the Year for 2022 by the League of Southeastern Credit Unions and Affiliates (LSCU)[38]
  • Recognized in 2023 as one of the region's Best Places to Work by the Jacksonville Business Journal[39]

References

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  1. ^ a b c "Community First Credit Union 2023 Annual Report" (PDF). Community First Credit Union. p. 4.
  2. ^ https://www.lscu.coop/
  3. ^ Dickerson, Penny (June 20, 2023). "Community First named Florida Credit Union of the Year by LSCU". Jacksonville Business Journal.
  4. ^ Coppola, Maria (March 14, 2024). "Community First Credit Union Releases 2023 Annual Report". Community First Credit Union of Florida.
  5. ^ a b "Area credit unions merge, create 96,000-member firm St. Johns County Teachers". The Florida Times-Union. June 30, 2004.
  6. ^ a b c Calnan, Christopher (April 2, 2005). "Credit union changing its name; Membership of Educational Community Credit Union has expanded, changed". The Florida Times-Union.
  7. ^ Barker-Benfield, Simon (September 18, 2000). "Educational Community Credit Union broadens charter". The Florida Times-Union.
  8. ^ a b c Butler, Scott (September 15, 2020). "Community First completes renovation of expanded headquarters in downtown Jacksonville". The Florida Times-Union.
  9. ^ Calnan, Christopher (June 30, 2005). "CREDIT UNION TO MERGE WITH COMMUNITY FIRST". The Florida Times-Union.
  10. ^ Brune Mathis, Karen (March 21, 2022). "John Hirabayashi: Proud of helping the community grow". Jacksonville Daily Record.
  11. ^ Basch, Mark (September 6, 2023). "Community First Credit Union CEO Hirabayashi retiring". Jacksonville Daily Record.
  12. ^ "Community First Credit Union 2023 Annual Report" (PDF). Community First Credit Union. p. 2.
  13. ^ Braren, Neily (March 2, 2023). "WJCT Public Media Partners with Florida Theatre to Launch Untold Stories Radio Show". WJCT Public Media.
  14. ^ Garwood, Katie (August 2, 2021). "Community First Igloo new name for Jacksonville Ice & Sportsplex". Jacksonville Daily Record.
  15. ^ Brune Mathis, Katie (December 2, 2021). "$10.6 million Community First Igloo conversion approved". Jacksonville Daily Record.
  16. ^ a b c Luter, Carianne (June 6, 2023). "Take a look inside the new and improved Community First Igloo sportsplex". News4Jax.
  17. ^ "The Community First Seawalk Music Festival is returning for its 11th year". ActionNewsJax.com. February 26, 2023.
  18. ^ "Jacksonville Zoo and Gardens to hold 'ZOOLights' event". floridapolitics.com. December 2, 2022.
  19. ^ "ZOOLights". Jacksonville Zoo and Gardens. December 11, 2022.
  20. ^ Patton, Charlie (January 5, 2017). "Community First Credit Union to sponsor Florida Theatre The commitment, said to be substantial, will continue for 3 years". The Florida Times-Union.
  21. ^ a b c d "Community First Credit Union 2023 Annual Report" (PDF). Community First Credit Union. March 14, 2024. p. 10.
  22. ^ "Community First Thanksgiving Distance Classic". 1st Place Sports Running.
  23. ^ https://www.communityfirstcares.org/
  24. ^ a b "About Community First Cares Foundation". Community First Cares Foundation.
  25. ^ Garry Garfunkel, Stephanie (August 25, 2020). "JPEF launches classroom grants for teachers in partnership with Community First Cares Foundation". Jacksonville Public Education Fund.
  26. ^ "Community First Credit Union 2022 Annual Report" (PDF). Community First Credit Union. p. 15.
  27. ^ "Pete's Bar hosts toy event to support beaches-area nonprofits". First Coast News. November 29, 2022.
  28. ^ "Community First Credit Union 2023 Annual Report" (PDF). Community First Credit Union. March 14, 2024. p. 10.
  29. ^ "WHAT'S NEW". The Florida Times-Union. May 31, 1999.
  30. ^ Reese Cravey, Beth (April 25, 2001). "Businesses get honors from state Credit union, Iluka education partners". The Florida Times-Union.
  31. ^ "MORNING BRIEFING: ECCU HONORED FOR SCHOOL WORK". The Florida Times-Union. March 29, 2002.
  32. ^ "Agency thinks out of the box". The Florida Times-Union. December 13, 2008.
  33. ^ "Braggin' rights". The Florida Times-Union. December 19, 2009.
  34. ^ "Awards given to businesses, individuals". The Florida Times-Union. January 10, 2009.
  35. ^ "2019 Diamond Award Winners Honored at CUNA Marketing & Business Development Council Conference – 2020 Dates Announced". Credit Union National Association. March 29, 2019.
  36. ^ "Best Places to Work". Jacksonville Business Journal. May 23, 2019.
  37. ^ Gibbons, Timothy (Jun 18, 2021). "Community First named credit union of the year for Florida". Jacksonville Business Journal.
  38. ^ Dickerson, Penny (Jun 20, 2023). "Community First named Florida Credit Union of the Year by LSCU". Jacksonville Business Journal.
  39. ^ Gibbons, Timothy (Aug 17, 2023). "Meet Jacksonville's 2023 Large Best Places To Work". Jacksonville Business Journal.
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