JACKSONVILLE, Fla. – It's official. Jax Navy is now the largest state-chartered financial in Florida. The $2 billion-plus credit union began doing business as a state-chartered credit union on Jan. 2. The credit union's new name is Jax Navy Credit Union. Sharon Whiddon, financial administrator for the state division of banking, confirmed that Jax Navy also filed for a field-of-membership expansion for five counties – Duval, Clay, Nassau, St. John and Baker. When approved, the ability to serve the five counties will increase Jax Navy's potential FOM by about 30%, Whiddon said. The credit union already has a presence in the counties because of select employee groups it counts in its membership. The application notice will be published in the Jan. 11 edition of the Florida Administrative Weekly and will run for 21 days until the end of the notice period. Following that, the application will go back to the comptroller's desk for a decision.
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