Community First Credit Union Releases 2024 Annual Report
Institution grew total deposits by 8% and has a record-high loan portfolio
JACKSONVILLE, Fla., March 14, 2025 - Community First Credit Union, celebrating 90 years of service to North Florida, released its 2024 annual financial report at its annual meeting at its Downtown headquarters on Thursday, March 13. Community First Credit Union’s President and CEO Sam Inman gave his first president’s report at the annual meeting. Inman, former CFO and credit union leader at Community First since 1990, was named president and CEO in 2024.
2024 Community First Report Highlights:
- Increased total assets by $32 million to $2.75 billion
- Increased deposits by 8% to $2.4 billion
- Increased its loan portfolio to a historic high of $2.03 billion
- Grew membership to more than 178,000 members
- Granted a total of $637 million in loans
- Increased interest payments to members by 48% for a total of $39 million
- Increased commercial accounts by 9% to more than 6,500
- Community First made a total of $69 million commercial loans, ending the year with $210 million in commercial loans
- The Credit Union has a PCA net worth of 12.78%
“As we plan for our next five years to 2030, Community First remains committed to strengthening our communities one member at a time,” said Sam Inman, president and CEO of Community First. “Our strong financial foundation and strategic vision ensure we’ll serve our members with excellence, innovation, and purpose. Our focus remains delivering value, enhancing service, and ensuring every member has the tools to achieve financial success.”
In 2024, Community First opened two new branches – its location at Boulevard Crossing at Beach and University Boulevards in Jacksonville and the second in Murabella in St. Johns County. It also relocated its Baymeadows location to Southside Quarter on Gate Parkway.
Inman also gave a report on the credit union’s community partnerships, sponsorships and philanthropic efforts. Community First has a legacy of serving the community through all its programs and partnerships such as the Florida Theatre, Jacksonville Zoo & Gardens, public schools across the region, the Community First Seawalk Music Festival and the Jacksonville Icemen and Community First Igloo.
Celebrating 90 years of service in 2025, Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville serving anyone who lives or works on the First Coast. Community First is one of the largest credit unions in Florida with $2.8 billion in assets and serving 180,000 members. Community First has 23 locations and more than 450 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses across the First Coast. For more, visit www.communityfirstfl.org.
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