LAUREL HILL — No banks or other financial institutions currently exist within this North Okaloosa community's city limits.
But the Okaloosa County Teachers Federal Credit Union wants to change that.
The credit union — which has four locations in the county — wants to open a Laurel Hill branch, according to Jerry Maughon, its president and CEO.
Actually, it's wanted to open one for quite some time.
The business purchased property on 4th Street — near State Road 85 — almost five years ago, but the city’s comprehensive plan has prevented it from using the land.
A previous city council denied the credit union's request to change the residential land use to mixed use after hearing adjacent property owners' concerns, Maughon said. Neighbors worried that the financial institution's presence could result in increased traffic.
“By no means do we want to upset anyone in the community,” Maughon said. “We want to serve the community.”
Now, the credit union requests that the council change the land use category to conditional use.
“In plain language, (the property) could only be used as a credit union type (of) property; it could never be changed over to a bar or anything else,” Council President Larry Hendren said.
The city has no procedures ordinance to approve such a request, he said. With the city attorney’s approval, the ordinance is expected to be presented for council approval at the next council meeting.
Should the ordinance be approved, the city will advertise for public hearings in addition to notifying nearby property owners.
The next city council meeting is scheduled for Thursday, Nov. 6 at 6p.m. in the city hall building.
DID YOU KNOW?
Okaloosa County Teachers Federal Credit Union — which has Crestview, Baker, Fort Walton Beach and Niceville offices — is not restricted to county educators and administrators' use.
It's open to anyone who lives, works, worships or attends school in Okaloosa County, according to President and CEO Jerry Maughon, who wants to add a Laurel Hill location.
"We have a lot of members up here (who) have requested our presence" in Laurel Hill, Maughon said during the City Council's Oct. 9 meeting.
Email News Bulletin Staff Writer Matthew Brown, follow him on Twitter or call 850-682-6524.
This article originally appeared on Crestview News Bulletin: Credit union eyes Laurel Hill location