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Community First Expands Business Banking Division

April 23, 2014 4:09 pm EDT

Community First Credit Union, one of the largest credit unions in Florida, announces it is expanding its business banking services and has appointed a new vice president of business lending, Nathaniel Herring, Jr., CFP®, MBA. Herring has more than 20 years of banking and financial experience and leadership and was most notably the recent Jacksonville city president of Fifth Third Bank.

Community First Credit Union, headquartered in Jacksonville and serving the seven-county region, recently improved the products and services it offers businesses large and small. The new, comprehensive suite of business products includes all the financial services businesses large and small need, including loans, credit card processing, payroll services and a new mobile banking platform. The position of VP of business lending is new for the credit union, giving business owners a partner they can trust to help them navigate and access all the lending services they need.

“The expansion and appointment of Nathaniel represents an evolution in our growth at Community First,” said John Hirabayashi, president and CEO of Community First Credit Union. “In this new position, Herring will be responsible for helping businesses with their lending needs while assisting the institution develop and provide the most innovative solutions for businesses.”

Herring, who joined Community First Credit Union last week, leads a lending team of five from the credit union’s LaVilla headquarters on Lee Street and serves the institution’s 17 branches on the First Coast. The position reports to Susan Verbeck, SVP of lending, whose team has more than 75 years of loan and financing experience.

Community First recently released its annual report for 2013, reporting its highest capital ratio in 20 years. In addition to its strong financial position, Community First recently launched a program with the KYN accelerator to provide its graduates access to capital without the traditional constraints. Jacksonville was recently ranked a top market for start-ups and entrepreneurship by Wallet Hub.

Herring is a Jacksonville native with more than 20 years of banking and financial experience and leadership. Most recently, he served as a senior banking consultant for St. Meyer & Hubbard after serving as the Jacksonville city president of Fifth Third Bank, one of the oldest banks in the nation. Prior to working for Fifth Third, Herring was with Wells Fargo (formerly Wachovia) for 15 years. Herring earned his MBA from Wake Forest University, earned a BBA in management from the University of North Florida (UNF) and is a certified financial planner (CFP). He lives in St. Johns County and has two teenaged sons.

Herring currently serves as a board member for Baptist Medical Center Beaches and the United Way of Northeast Florida. He is a former board member of the JAX Chamber and is a graduate of the Leadership Jacksonville Class of 1998. He also currently serves on the UNF Coggin College of Business Advisory Council and is a past member of the Wake Forest School of Business Board of Visitors.

Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville serving anyone who lives or works on the First Coast. Community First is one of the 10 largest credit unions in the state, serving more than 108,000 members and with assets of $1.3 billion. Community First has 17 locations and 300 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses throughout the First Coast.