Contrast News and Promotions | Bay Credit Union

News and Promotions

Re: Paper Mill Closure 

In light of the announcement of the closing of the Panama City Paper Mill, we were inspired to share our proud history with the paper mill.

Bay Credit Union was originally chartered in 1952 to provide low-cost financial services to the employees of the International Paper Mill. The paper mill was the first opened in Florida, beginning production in 1931. To reflect this connection, our original name was “I.P. Employees Federal Credit Union.” When first starting out, we were housed in a three room building above the bathhouse of the paper mill.

We have a very special place in our heart for our original members and want to encourage those impacted to reach out to us if this creates a financial hardship for you or your family.

Last Chance Refinance

Refi & Lock-in a Low Auto Rate Now

Rates as low as 2.99% APR*

Rates have been kept low for several years, and are expected to increase any day now. But don’t worry! You still have time to move your higher rate auto loan to Bay Credit Union and get last year’s rates today.

But time is running out. Apply for your “Last Chance Refinance” now.

Apply Now


*APR = Annual Percentage Rate. 2.99% APR for 36 months on used automobiles for borrowers with a minimum credit score of 740. Credit Standards Apply and Bay Credit Union Membership Required. Other rates and terms available. Contact a Loan Officer for more details.


New Branch Hours - May 1st

We're excited to announce that on May 1st we will be updating our branch hours to better align all five of our locations. 

Beginning May 1st, all drive-thrus will be open Monday, Tuesday, Wednesday, and Friday from 8:30am - 5pm and Thursdays from 10am - 5pm. 
All lobbies will be open Monday, Tuesday, Wednesday, and Friday from 9am - 5pm and Thursdays from 10am - 5pm.
Saturday drive-thru access will continue to be available at the Main Panama City Branch and Tallahassee Branch from 9am - 12pm.

Members Now Have Nationwide Access to 6,000 locations!

Bay CU appreciates that you love banking with us so we wanted to make it even easier to access your accounts. Introducing Shared Branching!

Through Shared Branching our members can access a network of more than 6,000 credit union branches nationwide. You can also access branches in Puerto Rico, Guam, Italy, Netherlands, Germany, United Kingdom, and Belgium. 

When you visit a shared branch, simply provide your credit union’s name, account number, valid photo ID and you can:

- make transfers

- deposits

- withdrawals

- balance inquiries

- loan payments

- and much more! 


Shared Branching extends the reach so that you’ve got branches wherever you live, work, or play.

Click here to find a location near you!

Exciting Announcement - Merger with FLAG Credit Union!

The financial industry has been evolving at an accelerated pace for decades. The technology available to institutions, as well as the regulatory landscape, continues to develop rapidly and requires substantial resources.  After careful evaluation, the FLAG Credit Union Board of Directors determined the values of Bay Credit Union were closely aligned with FLAG Credit Union and could assist with providing an elevated level of service to their members. Therefore, the Boards and management teams of FLAG Credit Union and Bay Credit Union are proud to announce they are pursuing a partnership agreement.


Q: Why are Bay CU and FLAG CU merging?

A: We are joining forces to provide more branch access, enhanced technology, and additional financial resources to strengthen us long-term and ensure we’re here for generations to come.

Q: When will the merger happen?

A: The tentative merger effective date will be April 1, 2022, and is pending regulatory approval and a membership vote.

Q: Who will be the President/CEO?

A: The President/CEO of the credit union will remain Bay Credit Union President/CEO Mike Akers.  Before joining Bay Credit Union, Akers was previously the President/CEO of FLAG Credit Union and led the FLAG team to achieve the Credit Union of the Year recognition in 2019.  The current FLAG CU Interim CEO Amy Green will serve the combined credit union as the VP of Finance.  

Q: Who will be on the Board after the merger?

A: Both the Bay and FLAG Credit Union board members will remain in their positions to provide the same strategic guidance they do today!  

Q: What will happen to the employees of FLAG Credit Union?

A: All employees of FLAG Credit Union will become employees of Bay Credit Union and remain in their similar roles to serve our members’ financial needs.  

Q: What will the combined credit union be called?

A: Our Tallahassee operation will continue to be called FLAG Credit Union. You will, however, see our branch and website updated to reflect our new relationship as “FLAG Credit Union, a division of Bay Credit Union.” 

Q: How large will the combined credit union be?

A: The combined credit union will be approximately $175 million in assets with approximately 14,000 members.

Recent Tech Upgrades

Bay CU is dedicated to providing a convenient banking experience that will support your financial needs into the future. We've greatly appreciated the patience and understanding of our members during times of transition.

Since completing the recent core conversion, Bay has introduced several new technology improvements and more are on the way!

Some of these upgrades include:

  • Free credit monitoring through Credit Sense
    • Simply login to online banking and click on the Credit Sense image to view and monitor your TransUnion credit report, get recommendations on how to improve your credit, and even dispute erroneous information. 
  • Bill Pay now available in our mobile app
    • Now you can manage all your bill payments right from your phone. 
  • Faster PopMoney transfers within Bill Pay
    • Person-to-person transfers through PopMoney now offer a speedier option through online Bill Pay.
  • Email receipts 
    • A great way to keep track of your visits without holding on to paper receipts. 
  • Faster transactions at the teller line 
    • Spend less time in line as we get you in and out faster.
  • Mobile wallet

Click here to watch our new video tutorials on online, mobile, and bill pay video tutorials!

We are excited to continue improving our technology to meet the growing needs of our members and will keep you up to date with enhancements as they are released.

Online, Mobile and Bill Pay Video Tutorials

Watch the video tutorial below to learn more about our online banking platform.

Interactive Video Player


Watch the video tutorial below to learn more about our online bill payment platform.

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Watch the video tutorial below to learn more about mobile banking platform.

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Watch the video tutorial below to learn more about CardValet.

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Watch the video tutorial below to learn more about Identity Theft Protection.

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Watch the video tutorial below to learn more about PopMoney.

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Wiring Instructions

RECEIVING ABA# (or Routing #) 262090120

Receiving Institution

Corporate America Credit Union      

4365 Crescent Road 

Irondale, AL 35210


BENEFICIARY ABA# (or Routing #) 263281543

Beneficiary Institution

Bay Credit Union   

601 Highway 231

Panama City, FL 32405

Final Credit To

Member’s Name

Member’s Account

Member’s Address