Samuel Inman, President & CEO, Community First Credit Union Of Florida

In an interview with Invest:, Samuel Inman, CEO of Community First Credit Union of Florida, discussed the credit union’s branch expansion plans, digital banking initiatives, and focus on improving member experiences. “We want to take out the transaction processing and create more room for conversation,” Inman said.

You have talked about the opportunity for credit unions to fill the gap left by the decline of local community banks. How has that dynamic evolved?

One of the things I have heard and learned over the last year or two is the passion from small-business owners for having someone who understands their market and what is happening in the local community.

Someone told me they feel like we are bringing back community banking the way it was in the 1980s and 1990s, before everything became so consolidated. There is value in having someone local who can listen, understand what is going on in the community, and make decisions based on local context and what is ahead for the future.

How are you balancing innovation with the continued importance of physical branches?

Sometimes when I am looking for real estate, people ask why Community First is adding branches when there has been so much consolidation in banking. For me, it goes back to our mission and our purpose, which we affirmed last year: improving our communities one member at a time.

When people see a Community First branch, I want them to recognize it as more than a place to do transactions. It is a place to come in and get an experience. It is a place where people can feel empowered and where we can help them understand where they are today and help them plan for the future.

At Gate Parkway, we opened a branch near The Block, which is a multi-venue complex with things like yoga classes, spinning classes, and a dog park. Community First also did the loan underwriting for the owner of The Block, so it became this dynamic experience adjacent to our branch.

This year, we are also renovating a historic bakery that had been closed for more than 10 years. It will become a branch with a drive-thru, but it will also include a community center, a pocket park, and a food venue. We want to create compelling and unique experiences, not just places where people come to make deposits or withdrawals.

How do recent branch investments align with your long-term growth strategy?

Credit unions are still restricted in where they can open branches, and because we are state-chartered, any expansion of our field of membership has to be approved by the Office of Financial Regulation.

We have focused on Northeast Florida for a while, but we also recognize that Northeast Florida is growing. About 100 new people are moving into the region every day, and Southeast Georgia is also starting to grow quickly.

We  targeted a bank acquisition that will expand our footprint into Southeast Georgia and the central part of Florida. One of the things I am most proud of is that our cultures are very similar. They have done a strong job serving commercial clients, while we have done very well serving our members’ account needs. That gives us more expertise in commercial services and allows us to continue innovating in that area.

What trends are shaping the credit union and banking sector today?

We have to bring the best experience whether members meet with us in person at a branch or through a digital environment. We measure how many members engage with our digital platform every month, and we set goals around those metrics.

Last year, we partnered with a new provider and released a new digital banking experience. We also improved the online account-opening process so members can now join online in less than five minutes. It used to take 10 or 12 minutes.

We are putting that technology into our branches as well. That allows our team members to spend less time completing forms and more time talking about what is happening in members’ lives.

We want to take out the transaction processing and create more room for conversation. AI and fintech solutions can help operationalize that process and reduce friction when applying for loans or opening accounts, but our member-focused staff guides our banking experience.

How do you balance efficiency with a personalized member experience?

One thing we have implemented this year is Products and Services Training. We want all of our employees to become brand ambassadors. No matter their position in the organization, we want them to have enough knowledge and information to speak about our products and services.

Whether someone works in accounting or is the CEO, we want them to understand the features and benefits of what we offer. Our goal is for 100% of employees to go through our product and services training. It is not really about the products. It is about the experiences we deliver.

How are you approaching recruitment, retention, and leadership development?

We have a one-page strategy, and every month we publish updates on our critical measures and projects. We want teammates to understand what we are doing to improve technology and help empower them to make the right decisions for members. I truly believe our teammates are some of the kindest and most caring individuals, and people genuinely enjoy interacting with them.

Through our partnership with Blue Zones, we also hosted several financial education experiences in our branches last year. Members of the community came in for a 10-week class focused on identifying goals and learning from others about best practices for achieving those goals.

We opened our branches beyond normal banking hours to create more engagement around financial education, and we received great feedback from those experiences.

How are you helping members address fraud and cybersecurity risks?

Sometimes it does not get members’ attention until it happens to them, but we have worked to better educate our team members so they can help members recognize suspicious activity and scams.

We have a tracking report, and we reduced or eliminated around $5 million to $6 million in fraud last year by engaging with members and helping them understand when something is suspicious or when they should not wire money to someone they do not know.

We have also put tools in place that help deter or prevent fraud before members are victimized.

AI is also changing the fraud landscape. As people and organizations become more visible, there are more opportunities for bad actors to use AI and social media to target them. That means we have to continue training our team members and improving our tools.

Where do you see the greatest opportunities for Community First over the next three years?

If we continue doing some of our traditional things well, such as listening to our team members and listening to our members, I think we will continue to grow.

One of the biggest opportunities is reducing friction in processes, whether that is making a transfer, making a deposit, applying for an account, or accessing a line of credit.

The more we can listen, learn, and identify pain points, the more we can improve those processes. That is what fintech companies have done well across the banking industry. They identify friction points and create tools and techniques to improve them, and we have to continue listening and implementing solutions.

Later this year, we will also implement a solution that gives consumers access to their credit scores along with guidance on how to improve them and what next steps they can take.

What should readers understand about Jacksonville and Northeast Florida’s momentum?

Jacksonville and Northeast Florida are in a resurgence right now. We are seeing new businesses, the Jaguars stadium renovation, a Four Seasons Downtown, and more development throughout the region.

We have been Downtown for more than 90 years, and our corporate office has always been Downtown, and we are Downtown Jacksonville’s longest continuously operating financial institution. Across our different locations, we have more than 100,000 square feet downtown.

It is exciting to see the resurgence happening across Northeast Florida. As we continue growing into Southeast Georgia and  Central Florida, I am excited about bringing our experiences and techniques to the new communities we will serve.