As VyStar Credit Union celebrates our 70th anniversary this April, we would like to express our sincere gratitude to you, our members. Our credit union continues to reach new heights by improving the places we call home and providing a superior banking experience to more people in more places. Those efforts are at the heart of our brand promise, Do Good. Bank Better.SM — and they would not be possible without your continued support.
You’ve probably heard the story of how our credit union was founded. But I would be remiss in not sharing it once again. It is truly a testament to the power of teamwork and how those who are committed to making a difference will not let anything stand in their way. In many ways, it still guides our credit union today.
Seventy years ago, 12 founding members came together with one bold idea: to create a safe place for our military and civil service members to save and borrow money. Stationed at Naval Air Station Jacksonville, they called the credit union Jax Navy Federal Credit Union. At that time, obtaining financial services — particularly loans — was difficult for many working men and women. For that reason, our credit union was chartered to provide military families with access to the financial services they needed. We began with $60. Today, we serve over 800,000 members, with assets totaling over $12 billion.
In the years since we were founded, we have celebrated many milestones. In 1982, our first ATM was installed. In 1996, we reached $1 billion in assets. In 2002, we changed our name to VyStar Credit Union as we transitioned to a state-chartered credit union. And in 2018, we moved our headquarters to the VyStar Tower in downtown Jacksonville. Some of these steps were large and some were small. But most importantly, we took them together.
One of our main objectives throughout that time has been to serve as a recognized and reliable borrowing source. With your trust, we have succeeded. In 2021, we disbursed more than $2.5 billion in lending to our members, helping them buy autos and homes and refinance existing higher-rate mortgages. Also in 2021, gross loans to members — including mortgage, automobile, credit card and business loans — reached $8.0 billion.
Of course, our credit union is much more than dollars and cents. We’ve grown to become a full-service financial institution, one that offers savings and checking accounts, loans, credit cards, mortgages, auto and home insurance, financial planning and investments, and so much more. So whether you are looking for a place to begin saving or you need help financing your forever home, we are here for you.
We also embrace the responsibility of being a strong community leader and a trusted financial institution. Each year, we donate several million dollars — in 2021, we contributed more than $6.8 million — to hundreds of nonprofit organizations that are committed to making a positive impact in the world around us. We also extend our impact beyond monetary donations through our employee volunteerism, board participation, marketing and advertising, and mentoring. As we continue to grow in the years ahead, so will our efforts to support others.
Looking back, it has been a wonderful 70 years for VyStar. We have flourished more than imaginable and surpassed many of our wildest dreams. Still, our story is just beginning. We remain committed to serving the financial needs of our members by providing products and services that are high quality, dependable and trustworthy. We also promise to continue growing and innovating to prove we are different than other financial institutions.
Thank you for supporting us, challenging us, growing with us and looking ahead with us. But most of all, thank you for 70 great years. Here’s to 70 more.