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Grow Financial Federal Credit Union

Based on 10 reviews
Overview / Commentary
9927 Delaney Lake Dr
Tampa, FL 33619

Grow Financial Federal Credit Union is headquartered in Tampa and is the 5th largest credit union in the state of Florida. It is also the 85th largest credit union in the nation. It was established in 1955 and as of March of 2014, it had grown to 536 employees and 170,741 members. Grow Financial Federal Credit Union has a A health rating.

Field of Membership Restrictions

Membership is open to employees of Select Employee Groups, to immediate family members or household members of anyone who is a member or is eligible for membership, to an Active or Retired Military, and to any MacDill Air Force Base Civilian Employee. If you don't meet any of the aforementioned requirements for Grow Financial membership, you may become instantly eligible through Friends of Military Families, LLC. There is a one-time membership fee of $5.00 to join Friends of Military Families. Pay a $5 membership fee and open a Share Savings Account with a $5 minimum opening deposit to become a member of Grow Financial Federal Credit Union. This $5 deposit represents one Credit Union share and must stay in your account as long as you are a member. - See Details

HIDDEN Fees With Grow Financial Federal Credit Union!

Imagine you go into your federal credit union (Grow Financial) where you have been banking since 1986 to withdraw your money market funds, and get hit with a “very hidden” fee of $885.00! Nobody bothers to tell me about this fee, no paperwork is signed, not even is my identification checked. They did this without my knowledge or consent, by secretly going into my “checking” account to take (steal) what they have labeled as a “cash withdraw fee”. I would have never even known it was missing until checks started bouncing, or by checking my account(s) online. Luckily I did go online and was able to spot it before checks began bouncing.


I have gotten nowhere in my complaints with the branch manager(s), and have written the CEO ( Robert Fisher ) a letter that was received months ago and has went ignored.


I thought there might be some public interest in this story, with just how safe our money really is in the bank. What do you do (or can you do) when the financial institution you are trusting with your money- decides to rob you? I have contacted the NCUA and Grow just lied to them and said I was informed.


The reason I decided to withdraw my money in the first place was because of thier inferior service when I went to get a pre-approval for a mortgage loan. I would be happy to share more details but I'm not sure if I can list my contact info here? Please let me know if you're interested when you respond (to this thread) and I'll get back to you will complete details of what happened to me with this nightmare of a credit union.


Robert Johnson

Customer Service

Been with them for six months and never had a problem. Every time I have gone into a branch, I have always received great service. Great rates too.

Love Grow Financial Credit Union

I've been with Grow since 1996 and have not had issues with it. We have financed our car with them also, no issues. Each time I go to talk with someone in their office about a credit transfer or IRA issue they have been very helpful. My only wish is that they could raise the interest rate so we can get more for our savings but it's an industry wide concern, not just one from Grow.

Grow review

Grow financial has an older site, and it needs to be updated. They have a bunch of features,but the site looks like its from 10 years ago. If they have it simplified for a phone application, then they need to simplify the online application as well. I wouldn't use the site at all.



Data for Q1 2014

Institution Health


Texas Ratio


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 Grow Financial Federal Credit Union had $22.84 million in non-current loans and owned real-estate with $220.79 million in equity and loan loss allowances on hand to cover it. This gives Grow Financial Federal Credit Union a Texas Ratio of 10.34% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Grow Financial Federal Credit Union decreased slightly from 13.03% as of March 31, 2013 to 10.34% as of March 31, 2014, resulting in a positive change of 20.60%.This indicates that the balance sheet and financial strength for Grow Financial Federal Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Grow Financial Federal Credit Union has increased its total deposits by $81.14 million, resulting in 4.82% 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 Grow Financial Federal Credit Union has shown is excellent.



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. Grow Financial Federal Credit Union has $1.98 billion in assets with $220.79 million in equity, resulting in a capitalization level of 11.17%, which is excellent.

Institution Statistics

NCUA #9976
Year Chartered1955
Primary Regulator
Assets and Liabilities
Assets$1.98 billion
Loans$1.46 billion
Deposits$1.77 billion
Equity Capital$199.07 million
Loan Loss Allowance$21.73 million
Unbacked Noncurrent Loans$18.78 million
Real Estate Owned$4.06 million
Historic Data - March 2013
Assets$1.89 billion
Equity Capital$188.68 million
Loan Loss Allowance$26.05 million
Unbacked Noncurrent Loans$18.78 million
Real Estate Owned$2.20 million
Profit Margin - Quarterly
Net Interest Margin1.16%
Return on Assets0.3%
Return on Equity2.94%
Interest Income$19.36 million

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

Grow Financial Federal Credit Union Savings Account Rates

0.35%--Roth IRA Savings Account
0.35%--Get Fit Savings
0.35%--Coverdell Education Savings Account
0.35%--Project Quince
0.35%--IRA Savings Account
0.10%--Basic Savings
0.10%--Health Savings Account
0.10%--Business Savings
0.10%--Club Savings

Grow Financial Federal Credit Union Money Market Rates

0.35%$50k-Money Market
0.35%$50k-Business Money Market

Grow Financial Federal Credit Union Checking Account Rates

3.00%-$1kGrow Student E-Checking - Qualifying
2.50%-$5kGrow Green Checking - Qualifying
0.45%$50k-Grow High-Yield Business Checking

Grow Financial Federal Credit Union CD Rates

1.85%$500-60 Month Share Certificate
1.85%$500-Business 60 Month Certificate
1.55%$500-48 - 59 Month Share Certificate
1.55%$500-Business 48 - 59 Month Certificate
1.30%$500-36 - 47 Month Share Certificate
1.30%$500-Business 36 - 47 Month Certificate
1.10%$500-30 - 35 Month Share Certificate
1.10%$500-Business 30 - 35 Month Certificate
0.95%$500-24 - 29 Month Share Certificate
0.95%$500-Business 24 - 29 Month Certificate
0.70%$500-18 - 23 Month Share Certificate
0.70%$500-Business 18 - 23 Month Certificate
0.55%$500-12 - 17 Month Share Certificate
0.55%$500-Business 12 - 17 Month Certificate
0.40%$500-6 - 11 Month Share Certificate
0.30%$500-Business 6 - 11 Month Certificate

Grow Financial Federal Credit Union has 21 locations. Click to view all Grow Financial Federal Credit Union locations.