Members of 121 Financial Credit Union approved its merger into VyStar Credit Union on Jan. 26, clearing the way for the two Jacksonville-based institutions to complete the merger March 1, 121 Financial said in a news release.
The credit union said it will operate as a division of VyStar through the summer months. A FAQ on VyStar’s website says system conversions are expected to be completed in the fall.
The FAQ also said no decisions have been made on possible branch closings. VyStar has 75 branches in North and Central Florida and 121 Financial has seven offices, all in the Jacksonville area.
The news release said all existing 121 Financial employees will be integrated into VyStar.
The credit unions said when the merger was announced in April 2023 that 121 Financial had 140 employees.
121 Financial was founded in 1935 as Florida Telco Credit Union. It took on the 121 Financial name in 2010.
In 2020, 121 Financial Credit Union became the naming rights sponsor of the Jumbo Shrimp’s ballpark at the Downtown Sports Complex.
VyStar will take over the naming rights to the ballpark with the merger but it has not said what the name of the facility will be.