Find Out More About the Jacksonville and Ponte Vedra Beach Area Economy & Job Market
 

In Jacksonville and the surrounding counties there are many major banks, investment service providers, insurance companies and credit unions. These include big, small and in-between financial services. 

The big banking companies in town include Bank of America and Wachovia, formerly First Union. Jacksonville holds a regional headquarters of Bank of America, which is the second-largest banking company in the USA. The Charlotte, N.C. location has assets of more than $600 billion. One third of American families have some kind of account with BofA. Bank of America has 140,000 employees, approximately 5,500 in the Jacksonville area.

Wachovia, with a regional headquarters in Jacksonville as well, and has more than $250 billion in assets and has the biggest share of the deposit market in Duval County, 40 %. It has about 85,000 employees, including 10,000 in Florida and about 3,000 on the First Coast. 

Jacksonville is an important part of the Federal Reserve System, as it is home to one of the nation's 25 branches of Federal Reserve Banks.
VyStar (formerly, the Jax Navy Credit Union) the 15th largest credit union in the country also has a large presence in the area. It has been around for 50 years and has grown to 275,000 members and $2.2 billion in assets. It employs about 700.  

Other major financial service companies in the Jacksonville area (with number of employees) include: Citibank (3,800); Washington Mutual (1,705); Merrill Lynch (1,500 employees), Alliance Capital Partners (1,100); Metris Companies (950); Fairbanks Capital (900); Cendant Mortgage (900); Chase Manhattan Mortgage (500); Atlantic Mortgage & Investment (405); SunTrust (350); and South Trust Bank (350).
Jacksonville is also the home of several major insurance companies. They include: Blue Cross Blue Shield of Florida, which has corporate headquarters in Jacksonville (8,500 employees); Aetna U.S. Healthcare, regional headquarters (3,000); Humana, regional headquarters (1,600); Prudential Individual Financial Services, regional headquarters (1,200); Allstate Financial (850); and State Farm Insurance Cos. (762).