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Overview / Commentary
405 SE 2nd PL
Gainesville, FL 32601

Sunstate Credit Union is headquartered in Gainesville and is the 35th largest credit union in the state of Florida. It is also the 686th largest credit union in the nation. It was established in 1957 and as of March of 2014, it had grown to 107 employees and 28,197 members. Sunstate Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Alachua, Columbia, Dixie, Gilchrist or Levy County. - See Details

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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 Sunstate Credit Union had $1.99 million in non-current loans and owned real-estate with $35.93 million in equity and loan loss allowances on hand to cover it. This gives Sunstate Credit Union a Texas Ratio of 5.53% 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 Sunstate Credit Union experienced no significant changes from 5.66% as of March 31, 2013 to 5.53% as of March 31, 2014, resulting in a positive change of 2.35%.This indicates that the balance sheet and financial strength for Sunstate Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Sunstate Credit Union has increased its total deposits by $9.2 million, resulting in 3.51% 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 Sunstate 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. Sunstate Credit Union has $306.43 million in assets with $35.93 million in equity, resulting in a capitalization level of 11.73%, which is excellent.

Institution Statistics

NCUA #11789
Year Chartered1957
Primary Regulator
Assets and Liabilities
Assets$306.43 million
Loans$226.10 million
Deposits$270.89 million
Equity Capital$33.38 million
Loan Loss Allowance$2.55 million
Unbacked Noncurrent Loans$1.75 million
Real Estate Owned$236,000
Historic Data - March 2013
Assets$299.37 million
Equity Capital$31.27 million
Loan Loss Allowance$2.72 million
Unbacked Noncurrent Loans$1.75 million
Real Estate Owned$457,000
Profit Margin - Quarterly
Net Interest Margin1.33%
Return on Assets0.96%
Return on Equity8.86%
Interest Income$3.24 million

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Sunstate Credit Union Savings Account Rates

0.30%--Future Endeavors Account
0.30%$500-IRA Share Account
0.30%$500-Roth IRA
0.15%$10k-Regular Share Account
0.15%$10k-Special Share Account

Sunstate Credit Union Money Market Rates

0.35%$250k-Money Market Account

Sunstate Credit Union Checking Account Rates

0.02%$500-Checking With Interest Account

Sunstate Credit Union CD Rates

0.85%$1k-48 Month CD
0.70%$1k-36 Month CD
0.70%$1k-36 Month Sunstep CD
0.50%$1k-30 Month CD
0.50%$50k-24 Month Jumbo CD
0.40%$1k-24 Month CD
0.40%$1k-24 Month Sunstep CD
0.30%$1k-18 Month CD
0.30%$50k-12 Month Jumbo CD
0.25%$1k-12 Month CD
0.25%$50k-6 Month Jumbo CD
0.20%$1k-9 Month CD
0.15%$1k-6 Month CD
0.05%$50k-3 Month Jumbo CD
0.05%$500-3 Month CD

Sunstate Credit Union Locations
Branch Office14520 NW US Highway 441Alachua, FL 32615-8204
Branch Office405 SE 2nd PLGainesville, FL 32601
Branch Office619 S Marion AveLake City, FL 32025-5808
Branch Office1605 W US Highway 90Lake City, FL 320556125
Branch Office1003 NW 22nd CtChiefland, FL 32626-1992
Branch Office14133 W Newberry RdNewberry, FL 32669-2753
Branch Office6305 SW Archer RdGainesville, FL 32608
Branch Office2516 NW 43rd StGainesville, FL 32606
Branch Office1601 SW Archer RDGainesville, FL 32608