shadows of people cast on the American flag. Photographer: Daniel Acker/Bloomberg

In honor of members of the military, and with Veterans Day this week, the Jacksonville, Fla.-based VyStar Credit Union announced the launch of a new lending program with a variety of benefits, payment and closing options targeted to members who serve, care for and protect our country.

On Thursday, VyStar ($11.4 billion in assets, 793,169 members) launched its Military Heroes Mortgage Program, which was developed in partnership with VyStar members who are veterans.

According to details of the program from the credit union, qualified members include active-duty military personnel, veterans and surviving spouses. Those members can apply to receive the following perks:

  • No down payment or mortgage insurance required.
  • Up to $5,000 toward closing costs, or a rate discount of 0.25%.
  • Up to a $10,000 grant to be used toward a down payment and/or closing costs.
  • Discounts up to $7,500 available from many national and local retailers.

"Since our founding at Naval Air Station JAX in 1952, supporting our military members and their families has been at the core of what we do," VyStar SVP of Real Estate Lending Jennifer Kouchis said. "We understand the unique challenges our troops face when purchasing a home, and the Military Heroes Mortgage Program is designed to make the process more efficient and more affordable."

VyStar also launched a new website featuring the military lending program that also connects members to a representative.

Additionally, with the launch of the new lending program, VyStar stated that the credit union will be involved in numerous community events in honor of Veterans Day on Thursday. Those events include participating in the Jacksonville Veterans Day Parade, sponsorship of the Salute to Veterans Run and collaborating with the local YMCA for its "Week of Valor."

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Michael Ogden

Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.