First Florida Credit Union is hailing a banner year in 2016 and says plans are underway for an even better 2017.
Among the achievements the $811 million-asset credit union is touting for 2016 are asset growth of more than $94 million and a $34.2 million increase in core deposits. First Florida also reported a $40 million increase in lending last year and a broadened field of membership thanks to a
FFCU officials also reported a net worth ratio in excess of 16%, which the credit union said will provide the “capital strength to continue expanding and enhancing its services to more members this year.”
According to its most recent call report, First Florida increased membership in 2016 to 53,284 from 52,649 in 2015.
Among other achievements, First Florida said its 2016 net worth was “well above” the 7% figure that the National Credit Union Administration considers a “well-capitalized credit union.” First Florida’s President and CEO Brent E. Lister said this high net worth will allow it to continue investing in new technology and projects.
First Florida has also unveiled some of its expansion plans for 2017, including the opening of two new branches in Tallahassee and renovations at its headquarters and administrative buildings in Jacksonville
“First Florida had an exceptional year of growth in 2016, and we hope to continue expanding and improving our services in 2017,” Lister said. “Our members are the foundation of our success, so we are always evolving in order to meet their changing needs.”
CU Journal
