Jacksonville-based VyStar Credit Union has launched a philanthropic arm that will distribute grants to nonprofits supporting youth, military members, veterans and the communities it serves.

VyStar Foundation is "dedicated to doing good and leading by example," according to the credit union.

"VyStar Credit Union’s purpose is to 'Do good,'" said Patricia McElroy, senior vice president of the credit union and president of the foundation. "That simple phrase describes the spirit of philanthropy that is deeply embedded in our organization. It inspires our teams in all that we do, whether we’re serving our members, volunteering with nonprofit organizations or donating to community partners who share in our commitment to improve the places we call home."

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She said there's incredible power in what can be accomplished by working together for a common good.

Each grant cycle will have a specific funding priority. The first cycle, which opened Wednesday, "honors VyStar’s roots at Naval Air Station Jacksonville" and focuses on programs that support active military, veterans and their families by providing food and housing, employment, small business counseling or mental health services, according to the company.

"VyStar Foundation’s launch will take our philanthropic efforts to new heights," VyStar President/CEO Brian Wolfburg said. "As VyStar continues to grow across Florida and Georgia, the foundation will serve our new and existing communities, help us build important relationships with community leaders and support organizations that make a difference each and every day."

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Grant application information sessions will take place March 30, April 5 and April 11; the application deadline is April 30. To register for an information session, get more information or apply for a grant, go to vystarfoundation.org.

VyStar Credit Union is the second-largest credit union headquartered in Florida and now serves more than 875,000 members with assets of over $13.5 billion.

bcravey@jacksonville.com, (904) 359-4109

This article originally appeared on Florida Times-Union: Jacksonville-based VyStar launches philanthropic foundation