Addition Financial is headquartered in Lake Mary and is the 9th largest credit union in the state of Florida. It is also the 142nd largest credit union in the nation. It was established in 1937 and as of December of 2018, it had grown to 452 employees and 160,687 members at 23 locations. Addition Financial's money market rates are 14% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Addition Financial is open to those who live, work, worship, volunteer, attend school or vocational training, or is an alumni of any college, university, or educational institution located in the Florida counties of Alachua, Brevard, Duval, Flagler, Hernando, Highlands, Hillsborough, Indian River, Lake, Marion, Martin, Okeechobee, Pasco, Pinellas, Polk, Orange, Osceola, St. Johns, St. Lucie, Seminole, Sumter, or Volusia.
See current membership details
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The staff always greets me upon entering the branch and is very welcoming. Wait times to meet the banking representatives are brief. Very clear terms and no problems with the approval process. The bankers are clear and honest and do not misrepresent their products. With my savings account, a checking account, and a money market account, managing them online is easy. Transfering funds is very simple and typically no delay. 24/7 customer service for any problems. Once I developed a relationship with the bank other services such as IRAs and CDs are very easy to use and access. Drive-thru tellers are quick, and the branches are efficient with any account requests. As with most banks interest rates are very low, but my funds are secure and accessible whenever I need. Most branches are open on Saturday, which is very convenient.
Not So Great
CFE Federal Credit Union is, in my opinion, a below average CU. It doesn't seem to be interested in making the lives of its customers easier or taking a step into the future. I have added and now deleted the app on my phone because it was slow, and unhelpful when I was trying to complete money transfers and deposits. Their whole website could also use a huge upgrade and become more user friendly. It takes me 15 minutes or more each time I login just to find what I need. We swapped to this CU from Regions due to their "lower" checking account fees. They also have a good children's savings program that Regions did not have. The children's savings is the only part that I would say that I like about this CU and even then it's not as great as I thought it would be. Everything about this CU is sub-par in my experiences and opinion.
Don't Bank Here
They've been my bank for years which is why I was shocked when I was recently scammed $400 from my checking & I contacted them & I sent the forms they asked me to & then someone else called me & said wrong form, send this one, so I did & then got called by the branch saying wrong form & then someone was supposed to call me & ultimately they told me too much time had passed & they couldn't return my money!! So awful. I feel robbed TWICE!!! DO NOT USE CFE!
I've been with them for years! Love them!
I really do enjoy using their services. The deposits are quick and available during the same day, usually. The Bill Pay portion is really great. I lost my debit card once and a quick visit to the branch gave me a new card within 10 minute. The customer service has always been really great and no issue has gone unresolved. I had an issue with fraud and they were not only able to stop further actions on my account, but they also created a new account for me. This saved me a lot of frustrations and anxiety. The only issue I would say is that their Non Sufficient Fees are a bit steep and they will constantly hit you with them if they occur on the same day. Sometimes they do not credit them and other times they do.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1976 |
| Year Chartered | 1937 |
| Employees | 452 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.91% |
| Return on Equity - YTD | 8.71% |
| Annual Interest Income | $64.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $1.87B$1.81B |
| Loans | Q4 2018vs Q4 2017 | $1.14B$1.01B |
| Deposits | Q4 2018vs Q4 2017 | $1.63B$1.61B |
| Equity Capital | Q4 2018vs Q4 2017 | $194.7MM$184.0MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $10.7MM$13.2MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $3.1MM$3.3MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $0$947.00K |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
2.78% And 2.89% 15-Month Cds
They are also offering a 2.89% 15-month CD with a $1,000 minimum opening deposit with direct deposit ($500 monthly aggregate requirement), or a $100,000 minimum opening deposit.
More information is here: www.mycfe.com/certificatepromo.
Always verify rates and promotions with the bank or credit union. We are not Addition Financial; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Addition Financial Savings Account Rates
Addition Financial Money Market Rates
Addition Financial Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.50% | $50k | - | Business Non-Profit Checking | |
| 0.25% | $25k | - | Business Enterprise Checking |
