In May 1950, a few people with a combined $301 formed the Florida State Welfare Board Employees Credit Union. These charter members came together with one common goal: establish a member-owned cooperative that would provide a safe place to grow their savings and a source for affordable financing. As assets grew and membership included a broader base of employees than the original name implied, the credit union underwent a name change– becoming Florida HRS Credit Union in 1972.
Over the next 10 years, changes and reorganizations within the state of Florida allowed more government employees access to the credit union. Membership reached 13,484 in 1980 and assets topped $10 million. In response, the credit union became Government Employees Credit Union of Florida in March 1982.
During 1982 – 2000, the credit union benefited from three additional mergers and acquisitions as well as a bylaw amendment that expanded the field of membership to include all state and federal employees.
In 2003, three years after celebrating its 50th anniversary, Government Employees Credit Union changed its name to First Florida Credit Union to better represent its membership and branches in major metropolitan areas across the state. First Florida Credit Union then engaged in the following strategic mergers/partnerships:
- Seaboard Credit Union (2007)
- Department of Highway Safety and Motor Vehicles Credit Union (2009)
- State Employees Credit Union (2014)
- Florida Baptist Credit Union (2016)
Today, First Florida Credit Union has over 53,000 members and assets of nearly $800 million. Although the product offerings have changed and our operations are considerably more sophisticated, the continuity that makes for a successful organization remains. We have never wavered from our original founding principle of “people helping people.” Our commitment to this principle has resulted in the cultivation of a loyal membership. First Florida Credit Union continues to be a thriving financial organization ready to serve its members’ needs.