Why a Credit Union?
Credit unions are unique among financial institutions because their members - the exclusive beneficiaries of their services and earnings - own them. Membership at JAXFCU means you can save and borrow with the added value of lower loan rates, better rates on savings and lower fees.

Unlike commercial banks, we don't pay dividends to stockholders. Instead, our profits are returned to you, the member-owner, in the form of lower interest rates, higher dividends and outstanding personal service. It is our mission to encourage the financial success of our membership, and we do it one member at a time - with you, for you, about you.

One of the many unique things about credit unions (Jax Federal included) is that we are governed by a volunteer Board of Directors. JAXFCU Directors are elected by the membership to serve 3-year terms. Unlike Bank Board of Directors, Federal law provides that credit union directors are not authorized to receive compensation for their services.

The Board of Directors holds the power and the responsibility for all the operations and functions of the Credit Union. To carry this out, the Board must:

• Establish goals and objectives
• Determine policy to achieve these goals
• Maintain competent Management
• Appraise performance and results
• Report to the Membership and
• Fulfill the requirements of its Act, By-Laws and Rules and Regulations

Statement of Belief:

"The Elected Officials and Executive Officers occupy a very special position with the Credit Union, its members and the community. They have the unique challenge to serve, to counsel and to lead, and for the most part, they have achieved that opportunity through the trust and faith of their peers.

By the acceptance of their respective positions, they have also assumed fiduciary, legal and moral responsibilities, which they cannot delegate. Further, implied in each position is a duty to conduct the affairs of the Credit Union with absolute loyalty to it, and to do so with incurring even a shadow of conflict of interest, either real or implied.

The Credit Union Supervisory Agencies, and other government institutions, provide officials with ample materials to perform their varied duties with efficiency and a high degree of expertise. But as a person's character is the most important security for his/her loan, so is that person's character and integrity equally important to him/her, to the family and to the Credit Union in carrying out those accepted responsibilities."