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Overview / Commentary
904-359-6800
500 W 1st St
Jacksonville, FL 32202-3939

First Florida Credit Union is headquartered in Jacksonville and is the 31st largest credit union in the state of Florida. It is also the 534th largest credit union in the nation. It was established in 1950 and as of March of 2014, it had grown to 113 employees and 37,004 members. First Florida Credit Union has a A health rating.

Field of Membership Restrictions

Membership is open to anyone who lives or works in any of the following Florida counties: Baker, Broward, Clay, Duval, Flagler, Gadsden, Hillsborough, Jefferson, Leon, Madison, Miami-Dade, Nassau, Orange, Seminole, St. Johns, and Wakulla. Additionally, state of Florida employees, the employees of CSX Transportation, and other specified companies (Select Employee Groups) are also eligible to join. - See Details

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Florida Credit Union had $1.61 million in non-current loans and owned real-estate with $55.4 million in equity and loan loss allowances on hand to cover it. This gives First Florida Credit Union a Texas Ratio of 2.90% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for First Florida Credit Union decreased slightly from 3.59% as of March 31, 2013 to 2.90% as of March 31, 2014, resulting in a positive change of 19.16%.This indicates that the balance sheet and financial strength for First Florida Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C+

In the past year, First Florida Credit Union has decreased its total deposits by -$1.4 million, resulting in -0.41% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Florida Credit Union has shown is average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Florida Credit Union has $412.95 million in assets with $55.4 million in equity, resulting in a capitalization level of 13.41%, which is excellent.

Institution Statistics

Overall
NCUA #61170
Year Chartered1950
Employees113
Primary Regulator
Assets and Liabilities
Assets$412.95 million
Loans$202.68 million
Deposits$343.90 million
Equity Capital$54.12 million
Loan Loss Allowance$1.28 million
Unbacked Noncurrent Loans$991,000
Real Estate Owned$618,000
Historic Data - March 2013
Assets$406.03 million
Equity Capital$53.44 million
Loan Loss Allowance$1.97 million
Unbacked Noncurrent Loans$991,000
Real Estate Owned$706,000
Profit Margin - Quarterly
Return on Assets0.76%
Return on Equity5.83%
Interest Income$3.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not First Florida Credit Union, we are a rate comparison website and can not provide official rates or promotions.

First Florida Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k$10mSavings Account
0.25%$100$10mChristmas Club Account
0.25%$1k-IRA Savings
0.25%$1k-Roth IRA Savings
0.25%$1k-CESA Savings
0.25%$100$10mAdventure Club Account

First Florida Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$2,500-Security Plus More
0.25%$25k-High Yield Money Market
0.25%$50k-Platinum Money Market

First Florida Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$600-Interest Bearing Checking

First Florida Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.49%$1k-Executive Gold Club 60 Month CD
1.49%$1k-Golden Rainbow Club 60 Month CD
1.39%$1k-60 Month CD
1.19%$1k-Executive Gold Club 48 Month CD
1.19%$1k-45 Month CD Special
1.19%$1k-Golden Rainbow Club 48 Month CD
1.09%$1k-48 Month CD
0.99%$1k-Executive Gold Club 36 Month CD
0.99%$1k-Golden Rainbow Club 36 Month CD
0.89%$1k-36 Month CD
0.79%$1k-Executive Gold Club 24 Month CD
0.79%$1k-Executive Gold Club 30 Month CD
0.79%$1k-22 Month CD Special
0.79%$1k-Golden Rainbow Club 24 Month CD
0.79%$1k-Golden Rainbow Club 30 Month CD
0.69%$1k-24 Month CD
0.69%$1k-30 Month CD
0.69%$1k-24 Month Step CD
0.69%$300-24 Month Sand Dollar CD
0.59%$1k-Executive Gold Club 12 Month CD
0.59%$1k-Executive Gold Club 18 Month CD
0.59%$1k-13 Month CD Special
0.59%$1k-Golden Rainbow Club 12 Month CD
0.59%$1k-Golden Rainbow Club 18 Month CD
0.49%$1k-12 Month CD
0.49%$1k-18 Month CD
0.44%$1k-Executive Gold Club 6 Month CD
0.44%$1k-5 Month CD Special
0.44%$1k-Golden Rainbow Club 6 Month CD
0.34%$1k-6 Month CD
0.34%$1k-Executive Gold Club 3 Month CD
0.34%$1k-Golden Rainbow Club 3 Month CD
0.24%$1k-3 Month CD

First Florida Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.49%$1k-Golden Rainbow Club 60 Month IRA
1.39%$1k-60 Month IRA
1.19%$1k-45 Month IRA Special
1.19%$1k-Golden Rainbow Club 48 Month IRA
1.09%$1k-48 Month IRA
0.99%$1k-Golden Rainbow Club 36 Month IRA
0.89%$1k-36 Month IRA
0.79%$1k-22 Month IRA Special
0.79%$1k-Golden Rainbow Club 24 Month IRA
0.79%$1k-Golden Rainbow Club 30 Month IRA
0.69%$1k-24 Month IRA
0.69%$300-24 Month Sand Dollar IRA
0.69%$1k-24 Month Step IRA
0.69%$1k-30 Month IRA
0.59%$1k-13 Month IRA Special
0.59%$1k-Golden Rainbow Club 12 Month IRA
0.59%$1k-Golden Rainbow Club 18 Month IRA
0.49%$1k-12 Month IRA
0.49%$1k-18 Month IRA
0.44%$1k-5 Month IRA Special
0.44%$1k-Golden Rainbow Club 6 Month IRA
0.34%$1k-6 Month IRA
0.34%$1k-Golden Rainbow Club 3 Month IRA
0.24%$1k-3 Month IRA
Locations


First Florida Credit Union Locations
Branch Office2521 Blairstone RdTallahassee, FL 32301-5903
Branch Office500 W 1st StJacksonville, FL 32202-3939
Branch Office4230 Southpoint Pkwy SJacksonville, FL 32216-0967
Branch Office4530 Saint Johns Ave Ste 18Jacksonville, FL 32210-1852
Branch Office8390 NW 53rd St Suite 100Doral, FL 331664668
Branch Office1661 Raymond Diehl RdTallahassee, FL 323083721
Branch Office3724 Edgewater DrOrlando, FL 328042831
Branch Office2928 Apalachee PkwyTallahassee, FL 32301-3678
Branch Office3281 Hallandale Beach BlvdPembroke Park, FL 330235726