Self-Help Shares

Extending our Family in Florida and Chicago

By Staff
  | Jun 15, 2017

Jax Metro Credit Union Branch

Jax Metro Credit Union's Kendall Town branch.

Recently Self-Help Credit Union and Self-Help Federal Credit Union each had a significant merger, expanding our mission footprint in Florida and Chicago, respectively.

Effective June 1, Jax Metro Credit Union joined Self-Help Credit Union. Jax Metro was founded in 1935 to serve utility and port workers for the City of Jacksonville, Florida, and now serves teachers and other city workers.

Jax Metro’s board of directors had been exploring how to expand member services and, after extensive discussions, the board unanimously voted to merge with Self-Help. With the merger, 4,300 new members have joined Self-Help Credit Union, served out of four branches.

Seaway photo

The other recent expansion came on May 1, when Chicago’s Seaway Bank became part of Self-Help Federal Credit Union.

Seaway Bank was founded over 50 years ago after community leaders in Chicago’s South Side had a vision: starting a financial institution that would address the needs of the local Black community. They went door-to-door in local neighborhoods selling shares and raising over one million dollars. Seaway opened its doors in 1965. It grew to become one of the Midwest’s largest African-American-owned banks until, like many banks, it was hit by the recent Great Recession.

With the merger, over 12,000 Seaway customers are now joining Self-Help Federal Credit Union as member/owners, including Seaway customers served by a Milwaukee, Wisconsin branch. Self-Help is honored to help continue and expand service in Seaway’s communities.

These mergers expand Self-Help’s presence in both Florida and Chicago. In 2016, we previously merged with Community Trust Federal Credit Union, which was founded to serve farm workers in and around the towns of Apopka and Pierson, Florida. In Chicago, Self-Help’s Second Federal division serves over 12,000 members out of Chicago’s Little Village, Archer Heights and Cicero communities.

Self-Help is eager to continue the legacies of service that both Jax Metro and Seaway have earned for supporting their communities. We look forward to a long and uplifting relationship working with our new credit union members!

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