Both First Florida Credit Union, headquartered in Jacksonville, FL, and We Florida Financial CU, based out of Margate, FL, headlined in CU Journal yesterday featuring impending growth opportunities.
First Florida CU recently ranked among the Top 10 in greatest potential for membership growth, according to NCUA data and is taking a two-pronged approach to managing growth. According to third quarter 2016 call report data, the $811 million credit union has nearly 12.7 million potential members, putting it in ninth place on the national list.
First Florida has relied on partnerships and mergers to grow, with five mergers in the past 10 years, and has increased from $100 million in assets to $800 million in assets over the last 13 years.
Another CU Journal piece covered We Florida Financial, which has a potential field of membership across 46 counties. The credit union believes that there is still plenty of fresh growth potential close to home, for now.
According to its third quarter 2016 call report, the credit union has nearly 17.7 million potential members in its field of membership, ranking it fifth among credit unions with the greatest number of potential members. For more details, read First Florida CU and We Florida Financial at CU Journal.