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Overview / Commentary
601 N Highway 231
Panama City, FL 32405-4705

Bay CU (FL) is headquartered in Panama City and is the 68th largest credit union in the state of Florida. It is also the 1,776th largest credit union in the nation. It was established in 1952 and as of December of 2017, it had grown to 28 employees and 9,783 members at 3 locations. Bay CU (FL) has a B+ health rating.

Field of Membership Restrictions

Bay CU is open to anyone who resides or works in these Florida Counties; Bay, Gulf, Jackson, Walton, and Washington. Membership eligibility also extends to include the CU employees, organizations that lack a CU-affiliation, and direct family members of eligible persons.
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Reviews (1)

Awful Bank

If I could give this 0 stars I would. This bank is a joke. Their customer service skills are yet to be seen. This bank does NOT have it together. They screwed up my auto loan and couldn't get the first three payments correct. I went to another bank and refinanced my vehicle after the third screw up from them. I paid off my credit card with this bank and wanted to close out the account, the tellers didn't even know how to close out a credit card account. I asked the teller if there was anything I needed to sign and was told no. After I got home, I get a phone call from them saying I need to come back to the bank and sign some papers to close out the account. I was so upset that I decided to close out all of my bank accounts. About a week later, I start getting emails saying my statement is available. I don't even have a way to log online since I no longer have an account. I am also receiving emails for my credit card statements. I closed out the credit card account before the main accounts. I have talked with two people so far who have stated that they took care of this and I will not be receiving any more emails. They lied to me again. I am still receiving emails. I called today to get this fixed and was hung up on by one of their customer service people. I called back to put in a complaint and was sent to a voice mail. I called back again to speak with anyone up above and was sent to a voice mail again. This bank needs to be shut down. To have people incompetent taking customer service calls, and then have them hang up on customers when they don't know how to resolve the problem is such terrible business practices. I would be embarrassed and ashamed if I was running a business that had employees like this working under me. Stay away from this bank if you don't want stress or chaos in your life.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Bay CU (FL) has a relatively low asset base.

Health Grade Components

NCUA #63262
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD-0.2%
Return on Equity - YTD-2.21%
Annual Interest Income$3.3MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$83.2MM$82.9MM
LoansQ4 2017vs Q4 2016$54.2MM$55.9MM
DepositsQ4 2017vs Q4 2016$75.0MM$74.4MM
Equity CapitalQ4 2017vs Q4 2016$7.5MM$7.6MM
Loan Loss AllowanceQ4 2017vs Q4 2016$537.00K$512.00K
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$195.00K$134.00K
Real Estate OwnedQ4 2017vs Q4 2016$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bay CU (FL) Savings Account Rates

0.15%--Golden Opportunity Savings
0.10%$25-Regular Shares
0.10%--Business Savings
0.10%$25-IRA Accumulator
0.10%$25-Christmas Savings
0.10%$25-Vacation Savings
0.10%--Bright Future Savings
0.10%--Young Adult Savings
0.10%$25-Roth IRA Accumulator
0.05%--Buddy Bear Savings

Bay CU (FL) Money Market Rates

0.20%*$25k*-Money Market Savings
OTHER TIERS: 0.05% Up to $2k | 0.10% $2k - $10k | 0.15% $10k - $25k
0.10%--Money Market Checking

Bay CU (FL) Checking Account Rates

0.10%--Golden Opportunity Checking
0.10%--Young Adult Checking
0.05%--Share Drafts Checking
0.05%$2,500-Business Checking

Bay CU (FL) CD Rates

1.29%$1k-60 Month CD
1.24%$1k-48 Month CD
1.06%$1k-36 Month CD
0.89%$1k-24 Month CD
0.61%$1k-18 Month CD
0.45%$1k-12 Month CD
0.20%$1k-6 Month CD
0.15%$1k-90 Day CD

Bay CU (FL) IRA Rates

1.29%$1k-60 Month IRA
1.24%$1k-48 Month IRA
1.06%$1k-36 Month IRA
0.89%$1k-24 Month IRA
0.61%$1k-18 Month IRA
0.45%$1k-12 Month IRA
0.20%$1k-6 Month IRA
0.15%$1k-90 Day IRA

Bay CU (FL) Locations
Branch Office103 S Tyndall PkwyPanama City, FL 32404-6722
Branch Office7713 Front Beach RdPanama City Beach, FL 32407
Branch Office601 N Highway 231Panama City, FL 32405-4705