Management change: 121 Financial Credit Union CEO, CFO let go

Credit union says it's decided to go in another direction

JACKSONVILLE, Fla. – Two leaders of a Jacksonville credit union have been let go; a spokesperson told News4Jax the company has decided to go in another direction.

Both Bruce Fafard, the chief executive officer, and Jane Scofield, the chief financial officer, are no longer with the company.

121 Financial, which was once known as Florida Telco, has a long history in Jacksonville. It changed its name in 2010. According to the company's website, it's had ties to Jacksonville for over 80 years.

Since then, the credit union has merged with others. Its headquarters is located in Riverside.

Adam Wade, the vice president of marketing for the credit union, said the changes were made by the board and have been under consideration for quite some time.

"You're going to get to know 121 Financial much more than you know us now, because I think we're going to be a much bigger name and institution in the local community in the next year or two," Wade said.

The credit union says customers will not notice any differences due to the management changes.

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