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Overview / Commentary
813-643-5572
1225 Millennium Pkwy
Brandon, FL 33511

Florida West Coast Credit Union is headquartered in Brandon and is the 65th largest credit union in the state of Florida. It is also the 1,683rd largest credit union in the nation. It was established in 1991 and as of March of 2014, it had grown to 27 employees and 9,232 members. Florida West Coast Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be an employee of one of the several Select Employee Groups. - See Details

Reviews (1)

Friendly Staff, Horrible Website

I've been with FWCCU for a while now.  I made the switch because of the upcoming added fees by the regular banks.  The staff is great, very professional and helpful.  However their website and ATMS are horrible.  I suppose I'm just used to using the BOA ATM's and website, but I'll have to make due to keep from paying fees.  The FWCCU Bill Pay has very few electronically paid bills and they send most out via check.  This is not usually a problem until the time that the check was lost in the mail.  Yes, the check was actually lost in the mail.  My account was charged for the check but TECO never received it.  Their ATMS still take deposits the old fashioned way.  With an envelope.  But hey, NO fees! 



Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Florida West Coast Credit Union has a relatively low asset base.

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 Florida West Coast Credit Union had $89,000 in non-current loans and owned real-estate with $7.64 million in equity and loan loss allowances on hand to cover it. This gives Florida West Coast Credit Union a Texas Ratio of 1.17% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Florida West Coast Credit Union decreased dramatically from 1.98% as of March 31, 2013 to 1.17% as of March 31, 2014, resulting in a positive change of 41.13%.This indicates that the balance sheet and financial strength for Florida West Coast Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Florida West Coast Credit Union has increased its total deposits by $636,000, resulting in 0.83% 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 Florida West Coast Credit Union has shown is above average.

Capitalization

GRADE:
C

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. Florida West Coast Credit Union has $85.69 million in assets with $7.64 million in equity, resulting in a capitalization level of 8.91%, which is average.

Institution Statistics

Overall
NCUA #67337
Year Chartered1991
Employees27
Primary Regulator
Assets and Liabilities
Assets$85.69 million
Loans$33.98 million
Deposits$77.37 million
Equity Capital$7.14 million
Loan Loss Allowance$499,000
Unbacked Noncurrent Loans$89,000
Real Estate Owned$0
Historic Data - March 2013
Assets$85.61 million
Equity Capital$7.75 million
Loan Loss Allowance$490,000
Unbacked Noncurrent Loans$89,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.18%
Return on Assets0.56%
Return on Equity6.72%
Interest Income$605,000
Rates
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Florida West Coast Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.45%$50k-IRA Savings Account
0.45%$50k-Roth IRA Savings Account
0.20%$10k-Regular Savings Account
0.20%$10k-Christmas Club Account
0.20%$10k-Vacation Club Account
0.20%$10k-Youth Savings

Florida West Coast Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$50k-Money Market Account

Florida West Coast Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.75%$1k-24 Month Certificate
0.50%$500-12 Month Certificate
0.30%$1k-6 Month Certificate

Florida West Coast Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.75%$1k-24 Month IRA Certificate
0.50%$1k-12 Month IRA Certificate
Locations


Florida West Coast Credit Union Locations
Branch Office601 E KENNEDY BLVDTAMPA, FL 33602
Branch Office1250 Grumman PlTitusville, FL 32780-7927
Branch Office3020 Melburne BlvdTampa, FL 33605
Branch Office10025 N Dale Mabry HwyTampa, FL 33618-4406
Branch Office7200 Ridge Rd Ste 1Port Richey, FL 34668-6950
Branch Office1225 Millennium PkwyBrandon, FL 33511