Community First Credit Union of Florida purchases former Atlantic Coast branch

Community First Credit Union of Florida has acquired an existing bank branch location in Neptune Beach, FL.The credit union purchased the building and property at 1425 Atlantic Blvd. which was formerly an Atlantic Coast Bank branch. Community First closed on the $2.2 million sale on Dec. 19. The existing building is 3,850 square feet and […]

Community First Credit Union of Florida has acquired an existing bank branch location in Neptune Beach, FL.The credit union purchased the building and property at 1425 Atlantic Blvd. which was formerly an Atlantic Coast Bank branch. Community First closed on the $2.2 million sale on Dec. 19.

The existing building is 3,850 square feet and sits on two acres. It will undergo extensive renovations and remodeling in early 2019 to adopt the coastal design and architectural features of Community First’s nearest location in Jacksonville Beach. The current in-line shopping center location of Community First at 1650 San Pablo Rd. will move to the new Neptune Beach branch once it’s complete in early 2020.

The acquisition is part of the credit union’s Branch Transformation Project, the institution’s most aggressive and comprehensive branch and facilities upgrade and update in its history, which seeks to align physical branch locations with modern banking needs and customer uses.

“We are excited to expand and enhance our in-branch banking experience for our intracoastal and beaches members,” said John Hirabayashi, CEO and president of Community First. “We have long sought a strategic site in this area, and this location is a great improvement to our network.”

Community First will add 400 square feet, which will serve as an exterior tower, a feature in all its new branches, and provide interior space for a community room. The interior features a redesign for modern banking including an open floor plan, bright colors, and advanced technologies.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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