Members of 121 Financial Credit Union voted at a special meeting Friday to approve a proposed merger with VyStar Credit Union.
The merger, which was first announced last April, will become effective on March 1, and 121 Financial will operate as a division of VyStar.
According to 121 Financial, operations will continue as normal through the summer months and all existing 121 Financial employees will become VyStar employees.
121 Financial Credit Union, which was formerly Florida Telco Credit Union, was founded in 1935.
“We want to express our gratitude to all members of 121 Financial Credit Union, our partners, and the Jacksonville community for placing their trust and confidence in us for the last 89 years,” said David Marovich, 121 Financial Credit Union President and CEO. “As we embark on this next chapter, we reflect on the impact and meaningful contributions we have had on Northeast Florida. We are excited for the future with VyStar and look forward to creating a long-lasting impact together.”
For more information on the merger, visit https://vystarcu.org/121financial.
News4JAX wants to know what 121 Financial Credit Union members think about the merger of the 89-year-old company with VyStar. If you’re a member, let us know in the form below.