PALM BEACH GARDENS, Fla.—Velocity Community Credit Union has expanded its field of membership into Martin and St. Lucie counties, a move made possible by its recent conversion from a federal to a state charter.
The nearly $500 million credit union said the expansion extends its reach into two growing Treasure Coast markets and allows more consumers and businesses to access its financial services.
Under the expanded field of membership, anyone who lives, works, worships or attends school in Martin or St. Lucie counties is now eligible to join the credit union.
Velocity Community has operated under a community-based membership model in Palm Beach County since 2008.
Building on Existing Membership
According to the credit union, it already serves members in Martin and St. Lucie counties who originally qualified for membership through their association with Pratt & Whitney, the aerospace manufacturer whose employees founded the institution more than six decades ago.
The conversion to a state charter provides greater flexibility to expand geographically and serve a broader membership base, the credit union said.
“Expanding north not only allows us to better serve members who have been with us for years but also allows us to introduce our credit union to a broader group of people who may be looking for a new financial partner,” said Jeff Marshall, president and CEO of Velocity Community Credit Union.
“As we grow our presence in Martin and St. Lucie counties, we want to bring the same personalized service and community-focused approach that has been part of who we are since our founding,” Marshall added.
Additional Branches Planned
Velocity Community said it plans to establish branches in both Martin and St. Lucie counties, although it did not announce locations or opening dates.
The expansion comes as the credit union continues investing in its existing branch network, including:
- Avenir branch: Opened in September at 12455 Northlake Blvd. in Avenir, a growing master-planned community in Palm Beach Gardens.
- Jupiter branch: A major renovation is underway at 6779 W. Indiantown Road. The location temporarily closed Oct. 19 to accommodate improvements designed to enhance the member experience.
- Future Treasure Coast branches: Plans call for new locations in Martin and St. Lucie counties to serve existing members and attract additional membership.
The credit union said its Jupiter location will also help support continued expansion northward.
More Than Six Decades of History
Velocity Community Credit Union was founded in 1958 as Florida Aircraft Federal Credit Union to serve employees of Pratt & Whitney Aircraft and their families.
Since then, the member-owned, not-for-profit financial cooperative has expanded beyond its original occupational membership base to serve the broader Palm Beach County community.
The credit union offers consumer and business financial services, including checking and savings accounts, certificates, auto and personal loans, mortgages, credit cards and digital banking services.
The latest expansion brings its community-based membership eligibility to three Florida counties.
