Jacksonville-based Community First Credit Union is planning its first branch in Green Cove Springs.
It purchased a vacant commercial lot at 327 N. Orange Ave. on Dec. 4 for $1.35 million.
The 1.22-acre property will be the site of Community First’s third location in Clay County, according to a Dec. 9 news release.
The credit union has operated in the county for 70 years and has branches at 625 Blanding Blvd. in Orange Park and at 2004 East West Parkway in Fleming Island. It has 16,000 members in the county, the news release said.
Jonathan Heldenbrand of ProperCRE represented Community First in the transaction. Connor Marabell of Cantrell & Morgan was the listing agent for the property owned by 356 Real Estate Investments LLC. The Clay County property appraiser website says 356 Real Estate Investments bought the property in December 2021 for $950,000.
Green Cove Auto Sales previously operated at the site south of Wells Fargo Bank and west of Good Guys Motor automotive dealership.
Development is in the early planning stages, but Community First said it intends to build a 3,100-square-foot freestanding branch with a drive-thru and two ATMs. Construction and opening dates have not been determined, according to a representative.
“We look forward to serving the greater Green Cove and South Clay County area with a new branch,” Sam Inman, president and CEO of Community First, said in the release. “The area is growing rapidly, and our team is developing strategies to continue to serve our members where they are.”
According to its website, Community First is expanding its branch network by configuring spaces to “create a modern retail experience.” New branches feature open floor plans, upgraded digital technologies and a historical mural depicting the history of the locations.
According to the release, Community First has $2.8 billion in assets, 22 locations and 175,000 members,
It has announced or opened seven locations since 2022 when it had 19. It recently announced the opening of its Gate Parkway Branch, the start of construction on Beachwalk in Saint Johns County and Callahan Branches, and the property purchase for a Treaty Oaks location in Saint Johns.