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321-752-2222
8045 N Wickham Rd
Melbourne, FL 32940

Space Coast Credit Union is headquartered in MELBOURNE and is the 3rd largest credit union in the state of Florida. It is also the 42nd largest credit union in the nation. It was established in 1951 and as of December of 2013, it had grown to 700 employees and 238,722 members. Space Coast Credit Union's savings rates are 94% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Space Coast Credit Union is open to all who work or live in Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, or Volusia Counties in Florida. - See Details

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Don't Bank Here..

The credit union will nickel and dime you to death. I made a DEPOSIT at a shared member location and they charged me for a deposit ... that is unheard of. They charge you to use an ATM other then their own. I went to my local credit union to get money out of the ATM, it was broken / out of service on several occasions. The next closest location was across town. I spoke with a customer service rep, she was totally unprofessional. I asked her to change the amount of a automatic transfer I had setup. She said OK and placed me on hold. Then came back and said that she cancelled it. I told her I did not want it cancelled only changed. She insisted that I said cancel it. I told her to set it back up the way it was. She could not I then  spoke with a supervisor who said that he would review the recording. A few hours later he called me back stating that the rep was wrong and that he corrected the problem. In addition these locations (South Florida, Space Coast took over Eastern Financial and pretty much runied Eastern's name in my opinion) do not have convient lobby hours on the weekends.

Over all I would give this credit union a "D-"

After 25 years of being with Eastern then Space Coast I closed my account.

There are better credit unions out there. 

Space Coast Sucks

OMG this company is unbelievable and Stupid past a point. We made a BIG mistake getting a car loan from them to help build my 18 year olds credit. It's like they just want to make it near impossible for you to pay it easily. They said how easy it would be just set up savings account and they would just take money out for payment. They forgot to tell you that they dont take outside transfers unless you open a bank account with them. Yeah right they suck at customer service I'm not going to entrust them with my bank account. The nearest branch is nearly an hours drive, didn't tell us that at the car dealership. The customer service girls just don't listen to anything to try to tell them VERY RUDE. I'm giving them 5 stars for stupidity and rudeness. We will be paying off my daughters car so quick and I hope to never hear thier name again. They really should try to catch up with the modern world.

The Worst Financial Institution In My Experience

This is perhaps one the worst financial institutions I have ever encountered, from their lack of professionalism, their "conservative" policies used loosely as an excuse to be down-right mean, their nasty lending practices (just short of hiring people to hurt you - seriously).  Their computer system is out-dated and breaks down almost every other time you need to use it.  If you have any other option for financial care, you should use it.  

Please be sure to check ALL the complaints they have against them with the Better Business Bureau - it's pretty extensive.

Stay away from this place.

Do Not Bank Here!!!

We have been waiting two years for this bank to send a release of lein in to the state of Florida after we paid off our car.  We just keep hearing they will take care of it but nothing happens. Customer service is snippy and rude. 

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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
C+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Space Coast Credit Union had $104.68 million in non-current loans and owned real-estate with $426.37 million in equity and loan loss allowances on hand to cover it. This gives Space Coast Credit Union a Texas Ratio of 24.55% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Space Coast Credit Union decreased slightly from 30.85% as of December 31, 2012 to 24.55% as of December 31, 2013, resulting in a positive change of 20.40%.This indicates that the balance sheet and financial strength for Space Coast Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Space Coast Credit Union has increased its total deposits by $47.86 million, resulting in 1.82% 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 Space Coast Credit Union has shown is above 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. Space Coast Credit Union has $3.11 billion in assets with $426.37 million in equity, resulting in a capitalization level of 13.72%, which is excellent.

Institution Statistics

Overall
NCUA #67297
Year Chartered1951
Employees700
Primary Regulator
Assets and Liabilities
Assets$3.11 billion
Loans$2.18 billion
Deposits$2.68 billion
Equity Capital$349.31 million
Loan Loss Allowance$77.06 million
Unbacked Noncurrent Loans$79.52 million
Real Estate Owned$25.17 million
Historic Data - December 2012
Assets$3.01 billion
Equity Capital$292.76 million
Loan Loss Allowance$92.41 million
Unbacked Noncurrent Loans$79.52 million
Real Estate Owned$16.79 million
Profit Margin - Quarterly
Net Interest Margin4.21%
Return on Assets1.7%
Return on Equity15.1%
Interest Income$102.46 million
Rates

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

Space Coast Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%--Health Savings Account
0.50%$250k-IRA Savings
0.50%$250k-Roth IRA Savings
0.50%$250k-Coverdell Education Savings Account
0.27%$100k-Share Savings
0.27%$100k-Optional Savings
0.15%--Christmas Club

Space Coast Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$50k-Premium Investors Money Market Savings w/Active Checking or Direct Deposit
0.40%$100k-Money Market Checking
0.40%$100k-Money Market Savings
0.35%$15k-Investors Money Market Savings w/Active Checking or Direct Deposit
0.25%$50k-Premium Investors Money Market Savings w/o Active Checking or Direct Deposit
0.15%$15k-Investors Money Market Savings w/o Active Checking or Direct Deposit

Space Coast Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.08%--Interest Checking

Space Coast Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.86%$500-60 Month CD
1.86%$500-Business 60 Month CD
1.61%$500-54 Month CD
1.61%$500-Business 54 Month CD
1.41%$500-48 Month CD
1.41%$500-Business 48 Month CD
1.16%$500-42 Month CD
1.16%$500-Business 42 Month CD
0.95%$500-36 Month CD
0.95%$500-Business 36 Month CD
0.75%$500-30 Month CD
0.75%$500-Business 30 Month CD
0.50%$500-24 Month CD
0.50%$500-Business 24 Month CD
0.40%$500-18 Month CD
0.40%$500-Business 18 Month CD
0.30%$500-12 Month CD
0.30%$500-Business 12 Month CD
0.25%$500-6 Month CD
0.25%$500-Business 6 Month CD

Space Coast Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.86%$500-60 Month IRA CD (Traditional,Roth,CESA)
1.61%$500-54 Month IRA CD (Traditional,Roth,CESA)
1.41%$500-48 Month IRA CD (Traditional,Roth,CESA)
1.16%$500-42 Month IRA CD (Traditional,Roth,CESA)
0.95%$500-36 Month IRA CD (Traditional,Roth,CESA)
0.75%$500-30 Month IRA CD (Traditional,Roth,CESA)
0.50%$500-24 Month IRA CD (Traditional,Roth,CESA)
0.40%$500-18 Month IRA CD (Traditional,Roth,CESA)
0.30%$500-12 Month IRA CD (Traditional,Roth,CESA)
0.25%$500-6 Month IRA CD (Traditional,Roth,CESA)
Locations

Space Coast Credit Union has 58 locations. Click to view all Space Coast Credit Union locations.