Community First Credit Union announced April 25 it has purchased a St. Johns County site for its 22nd area branch.
Community First Credit Union of Florida paid $2.3 million on April 24 for the site at northwest Florida 16 and Pacetti Road in Murabella.
The Jacksonville-based credit union said the 1.23-acre site is in the Mill Creek retail development.
It said construction on the free-standing branch will begin this year for opening in 2024.
It will be Community First’s second location in St. Johns County. It has a branch at 3581 N. Ponce de Leon Blvd. in St. Augustine.
Community First said the Murabella branch is part of the credit union’s Branch Transformation Project that aims to enhance member service by configuring spaces to create a modern retail experience.
The credit union said the 3,000-square-foot Murabella branch will feature a full-service drive-thru, two ATMs (drive-up and walk-up), and its signature tower feature.
The Murabella branch is designed with Community First’s modern concept of an open floor plan, upgraded digital technologies, and a historical mural depicting the history of the Murabella/World Golf Village area.
It will serve the nearly 2,000 Community First members living within 5 miles of the shopping center.
“This branch is part of our strategic focus to serve members where they are,” said John Hirabayashi, CEO and president of Community First, in the release.
“We are aggressively improving and expanding our local branch network to meet the evolving needs of our region.”
Community First bought the vacant commercial property from Mill Creek Property LLC.
Cantrell & Morgan Brokerage Director Sean McGill represented the seller, developer Ramzy Bakkar, the manager of Mill Creek Property LLC.
NAI Hallmark Partner Jonathan Heldenbrand represented Community First Credit Union.
Community First said it is undertaking its largest one-time investment in its branch network with three expansion branches in the works.
It recently started construction on its 20th branch at Northpoint Village in North Jacksonville, its 21st branch at Boulevard Crossing at Beach and University boulevards and it relocated its Mandarin branch to Mandarin Station.
Community First Credit Union of Florida is a state-chartered credit union serving anyone who lives or works on the First Coast.
It has 19 locations and nearly 400 employees.