VyStar Credit Union is expected to acquire 121 Financial Credit Union in a merger later this year, leading to a potential name-change for the Jacksonville Jumbo Shrimp ballpark.

121 Financial was founded in Northeast Florida more than 85 years ago and has more than 49,000 members and over $680 million in assets, eight branches and 140 employees, according to a Thursday news release.

Once the merger is complete, VyStar, which is the 13th largest credit union in the country, will have over 920,000 members and 2,500 employees across its footprint.

Other VyStar acquisitions Jacksonville-based VyStar acquires First Coast Federal Credit Union

VyStar in the news VyStar Foundation: Grants available for nonprofits that support youth, military, community

All 121 Financial employees will be offered employment opportunities at VyStar.

“This partnership brings together two trusted, financially strong Jacksonville-based credit unions with a combined 150-year history serving Northeast Florida,” said David Marovich, 121 Financial Credit Union's president and CEO, in a news release Thursday. “And as the core values of 121 Financial and VyStar have been closely aligned for many years, we are excited about this next chapter and how it will enable us to do more for our members, employees and communities.”

A letter from VyStar President and CEO Brian Wolfburg that went out to VyStar Credit Union members Thursday morning said the merger will enable the two financial institutions "to provide better rates and lower fees by identifying and leveraging efficiencies, innovation and talent."

"This allows us to provide best-in-class products and services to our members for years to come," the letter said.

Along with this change to a Jacksonville staple in banking likely will come another change: the name of the Jumbo Shrimp ballpark.

The Jumbo Shrimp reached a deal with 121 Financial to rename its park from Baseball Grounds of Jacksonville in 2020 through the remaining years on the Jumbo Shrimp’s lease, which is set to expire in 2028, according to a previous Times-Union report.

If VyStar changes the ballpark's name, it will be the third major landmark in Jacksonville to bear the credit union's name alongside VyStar Veterans Memorial Arena and VyStar Tower.

The credit union also recently opened its VyStar Forsyth Garage, which houses the Jacksonville Children's Chorus and soon will be home to Jacksonville's Pour Taproom.

This news also comes at the halfway point of Jax River Jams, which VyStar heavily sponsors.

VyStar currently has $13.5 billion in assets and 875,000 members.

This article originally appeared on Florida Times-Union: VyStar, 121 Financial: Jacksonville-based credit unions merge