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Atlantic Coast Bank was established in 1939 as a credit union in Waycross, Georgia, serving employees of the Atlantic Coastline Railroad. We ended that year with 38 members and $575 in assets.

Sinking Deep Roots in Georgia
Slow-but-steady growth marked the years until the early 1980s, when financial institution regulations changed and credit unions were allowed to offer all types of financial services. Operating as First Railroad Community Federal Credit Union, we expanded our facilities in Waycross and opened a branch in Douglas, Georgia. We grew in Georgia through mergers with smaller credit unions, and followed that expansion model into Florida markets in the late 1980s.
Expansion to Florida
In 1988, Atlantic Coast began serving customers in the Sunshine State by merging with Aero Employees Federal Credit Union in Lake City. A year later we opened an Orange Park branch by merging with Sav-a-Stop Federal Credit Union.
Rapid Growth in the '90s
The 1990 merger with SCL Employees Federal Credit Union brought Atlantic Coast to several locations in Jacksonville and fueled rapid growth as CSX Transportation employees joined our field of membership. Mergers with several credit unions in the Savannah area consolidated a new market in Georgia, as well. By the end of the decade, Atlantic Coast Federal Credit Union had 10 locations in Northeast Florida and Southeast Georgia.
Conversion to Bank
In 2000, Atlantic Coast Federal Credit Union became Atlantic Coast Federal when we changed our charter from a credit union to a federally-chartered mutual savings association. This allowed us to serve everyone’s financial needs, not just those in our field of membership as a credit union. It also allowed us to acquire three branches of the Gordon Bank, two in the Jacksonville beaches area and one on University Boulevard in Jacksonville. This was followed with two subsequent branch expansions – Julington Creek and Fernandina Beach. The Fernandina Branch was sold in 2008.
Going Public
In 2004, Atlantic Coast became a public company and began trading shares on the NASDAQ. In 2006, we dropped “Federal” from our name and became Atlantic Coast Bank – a name that fully reflects the institution’s 70-year journey.

In February of 2011, Atlantic Coast Financial Corporation (ACFC) became the new holding company for Atlantic Coast Bank. As a result of the conversion, Atlantic Coast Financial Corporation
is now a full public company, owned 100% by the shareholders.