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Jax Federal Credit Union snags Vystar exec as next CEO

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Jax Federal Credit Union has named Joseph Nowland as its new president and CEO effective April 1.

The Jacksonville, Fla.-based institution said on Thursday that Nowland will succeed Gerri Sexsion, who will retire on March 29 after serving more than two decades in the top job. Sexsion had announced her plan to retire last September.

Jax noted that Nowland has “extensive experience” in leading various facets of credit union activities, including member services, retail operations, business banking, risk management, strategic planning and performance management.

His most recent position was as the chief business services officer at the $8.3 billion- asset VyStar Credit Union, which is also based in Jacksonville.

"Joe’s passion and experience immediately resonated with our board,” Charles T. McLeod, Jr., chairman of Jax, said in a statement.

During Sexsion’s tenure, the credit union’s assets more than doubled from $165 million to $394 million, as of September.

Jax posted net income of about $2.5 million in 2018, a 4.6 percent decline from the prior year.

The executive recruitment firm of DDJ Myers worked with the Jax board to find the new chief.

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