Jax Federal Credit Union and DUCOTE Federal Credit Union to Merge

JACKSONVILLE, Fla. - Aug. 24, 2016 - PRLog -- Jax Federal Credit Union, based in Jacksonville, Florida announced today that it has reached an agreement with DUCOTE Federal Credit Union, also in Jacksonville, to merge operations following recent approvals from each institution's Board of Directors and the NCUA. The combined entity will go forward under the Jax Federal Credit Union brand once the integration is complete on November 1, 2016.

Jax Federal Credit Union was originally founded in 1935 to serve Federal Employees and their families. Today, membership is open to Northeast Florida. Anyone who lives, learns, works or worships in Duval, Clay, St. Johns, Nassau or Baker County is eligible to open accounts and apply for loans. Jax Federal Credit Union has over $362 million in assets and more than 33,000 members.

DUCOTE Federal Credit Union's main sponsors are within a multiple common bond – primarily education. Through the merger, Jax Federal Credit Union will gain approximately 835 members and assets of $3.2 million. DUCOTE members will gain access to additional products and services, 7 local branches, 5,000 shared branches nationwide, and over 30,000 surcharge-free ATMS.

Gerri Sexsion, Jax Federal's President & CEO stated, "The management and staff of Jax Federal Credit Union are privileged to be selected by Ducote' s Board of Directors for this merger.  We will do our best to build on Ducote' s legacy of lending to members of modest means and encouraging thrift. "

For more information, visit https://www.jaxfcu.org