1 star ratingAverage User Rating:
1 star rating based on 1 review.

Space Coast Credit Union

Space Coast Credit Union Locations
8045 N. Wickham Road
Melbourne, FL 32940
321-752-2222
www.sccu.com

Space Coast Credit Union is headquartered in MELBOURNE and is the 3rd largest credit union in the state of Florida. It is also the 39th largest credit union in the nation. It was established in 1951 and as of December of 2011, it had grown to 740 employees and 376,465 members. Space Coast Credit Union's money market rates are 14% higher than the national average, and it has a 3-star health rating.

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See Rates for: Savings | Money Market | CD | IRA

Space Coast Credit Union Savings Account Rates

ApyMinMaxProduct
0.65%$250k-IRA Savings
0.65%$250k-Roth IRA Savings
0.30%$100k-Share Savings
0.15%--Christmas Club

Space Coast Credit Union Money Market Rates

ApyMinMaxProduct
0.50%$50k-Premium Investors Money Market Savings w/Active Checking or Direct Deposit
0.40%$100k-Money Market Checking
0.40%$100k-Money Market Savings
0.40%$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 CD Rates

ApyMinMaxProduct
1.61%$500-60 Month CD
1.61%$500-Business 60 Month CD
1.51%$500-54 Month CD
1.51%$500-Business 54 Month CD
1.31%$500-48 Month CD
1.31%$500-Business 48 Month CD
1.10%$500-42 Month CD
1.10%$500-Business 42 Month CD
0.90%$500-36 Month CD
0.90%$500-Business 36 Month CD
0.75%$500-30 Month CD
0.75%$500-Business 30 Month CD
0.60%$500-24 Month CD
0.60%$500-Business 24 Month CD
0.50%$500-18 Month CD
0.50%$500-Business 18 Month CD
0.45%$500-12 Month CD
0.45%$500-Business 12 Month CD
0.30%$500-6 Month CD
0.30%$500-Business 6 Month CD

Space Coast Credit Union IRA Rates

ApyMinMaxProduct
1.61%$500-60 Month IRA
1.61%$500-60 Month Roth IRA
1.51%$500-54 Month IRA
1.51%$500-54 Month Roth IRA
1.31%$500-48 Month IRA
1.31%$500-48 Month Roth IRA
1.10%$500-42 Month IRA
1.10%$500-42 Month Roth IRA
0.90%$500-36 Month IRA
0.90%$500-36 Month Roth IRA
0.75%$500-30 Month IRA
0.75%$500-30 Month Roth IRA
0.60%$500-24 Month IRA
0.60%$500-24 Month Roth IRA
0.50%$500-18 Month IRA
0.50%$500-18 Month Roth IRA
0.45%$500-12 Month IRA
0.45%$500-12 Month Roth IRA
0.30%$500-6 Month IRA
0.30%$500-6 Month Roth IRA

Rates updated: 5/24/2012

Data for Q4 2011


Institution Statistics


SPACE COAST
NCUA #67297
BankRate ReportView
Year Chartered1951
Employees740
Primary Regulator

Assets and Liabilities

Assets$3.03 billion
Loans$1.97 billion
Deposits$2.69 billion
Equity Capital$247.23 million
Loan Loss Allowance$97.90 million
Unbacked Noncurrent Loans$99.93 million
Real Estate Owned$17.94 million

Historic Data - December 2010

Assets$3.02 billion
Equity Capital$214.20 million
Loan Loss Allowance$89.90 million
Unbacked Noncurrent Loans$121.00 million
Real Estate Owned$23.09 million

Profit Margin - Quarterly

Net Interest Margin5.34%
Return on Assets0.92%
Return on Equity11.23%
Interest Income$122.30 million
Non-Interest Income$59.64 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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, 2011 Space Coast Credit Union had $117.86 million in non-current loans and owned real-estate with $345.13 million in equity and loan loss allowances on hand to cover it. This gives Space Coast Credit Union a Texas Ratio of 34.15% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Space Coast Credit Union decreased slightly from 47.39% as of December 31, 2010 to 34.15% as of December 31, 2011, resulting in a positive change of 27.93%.This indicates that the balance sheet and financial strength for Space Coast Credit Union has improved slightly in recent periods.
Deposit Growth3
In the past year, Space Coast Credit Union has decreased its total deposits by -$25.81 million, resulting in -0.95% 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 average.
Capitalization4
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 $3.03 billion in assets with $345.13 million in equity, resulting in a capitalization level of 11.40%, which is above average.
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Don't Bank Here..
1 stars - monty024 - Tuesday, May 8, 2012 - 9:14 AM

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. 

5
 
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