Community First Credit Union purchases former Atlantic Coast branch
Strategic Neptune Beach site to become new Community First branch by 2020
SANTA ROSA, CA (December 21, 2018) — Community First Credit Union announces it has acquired an existing bank branch location in Neptune Beach.The credit union purchased the building and property at 1425 Atlantic Blvd. which was formerly an Atlantic Coast Bank branch. Community First purchased the land and building for $2.2 million and closed on the sale Wednesday.
The existing building is 3,850 square feet and sits on two acres. It will undergo extensive renovations and remodeling in early 2019 to adopt the coastal design and architectural features of Community First’s nearest location in Jacksonville Beach. The current in-line shopping center location of Community First at 1650 San Pablo Rd. will move to the new Neptune Beach branch once it’s complete in early 2020.
The acquisition is part of the credit union’s Branch Transformation Project, the institution’s most aggressive and comprehensive branch and facilities upgrade and update in its history which seeks to align physical branch locations with modern banking needs and customer uses.
“We are excited to expand and enhance our in-branch banking experience for our Intracoastal and beaches members,” said John Hirabayashi, CEO and president of Community First. “We have long sought a strategic site in this area and this location is a great improvement to our network.”
The building will undergo renovations, improvements and an expansion. Community First will add 400 square feet which will serve as an exterior tower, a feature in all its new branches, and provide interior space for a community room. The location will offer members a drive-thru teller window and a drive-thru ATM, which the San Pablo location lacks. Community First will also offer safe deposit boxes at the new Neptune location, something not available at its other area branches.
The interior features a redesign for modern banking including an open floor plan, bright colors and advanced technologies. The branch experience includes full- and self-service and assisted service options. Specialized financial experts are instantly available through the credit union’s Expert Nearby solution. TTV Architects will design the new branch and Auld & White has been selected to perform the renovation.
About Community First Credit Union (CA)
Community First Credit Union, founded in 1959, is a full-service credit union that makes a concerted effort to not behave like a big bank. Originally created by seven local teachers in need of home loans, the credit union is now home to over $621 million in assets and serves more than 60,000 Members across Lake, Marin, Mendocino, Napa, and Sonoma counties. Community First prides itself on community service and diversity, going above and beyond in both areas. In 2019, CFCU employees volunteered over 2,668 hours of personal time to support local schools and organizations. As a CDFI and Inclusiv credit union, Community First is the only locally based bank or credit union to have been acknowledged to proactively serve people of color, as well as hiring from within and locally in an effort to maintain a diverse staff. To learn more, visit https://www.comfirstcu.org/.
