Brightstar Credit Union is headquartered in Sunrise and is the 30th largest credit union in the state of Florida. It is also the 542nd largest credit union in the nation. It was established in 1946 and as of March of 2022, it had grown to 166 employees and 60,053 members at 8 locations. Brightstar Credit Union has an A health rating.
Field of Membership Restrictions
BrightStar Credit Union offers membership to anyone who resides, works, or attends school in the Florida counties of Brevard, Broward, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Hillsborough, Indian River, Lee, Manatee, Martin, Monroe, Miami-Dade, Okeechobee, Osceola, Palm Beach, Pinellas, Polk, Sarasota, or St. Lucie. Membership is also open to individuals associated with educational institutions in Broward County, and to employees (and their family) of local partner organizations.
See current membership details
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Longstanding Brightstar Credit Union Platinum Star Member
I am a longstanding BrightStar Credit Union Member and current Platinum Star Member. The Platinum Star Membership requirements are clearly stated at BrightStar Credit Union | Serving Broward and Palm Beach Counties, Florida. You do need to establish a relationship with the credit union to become a member.( Read the fine print). That means you probably won't gain Platinum Star status immediately even if you meet the other requirements. It is reserved for customers who are loyal to the credit union. I have had bad experiences at other major banks and found myself coming back to BSCU because they have better rates and more free services offered in a more personal environment. All financial institutions can make errors. Over the 20 plus years I've banked with BrightStar (Broward Schools) Credit Union, I have only had one instance where a problem occurred due to the credit union's error. It was quickly corrected and no fees were accessed. There have been problems because of my error; they were also been quickly corrected and no fee accessments. As a Platinum Star member with a savings and checking, I have built in overdraft protection. When I opened my IRA CD's this year I also inquired about my son opening one. I was told that he could, but he would not have the preferred rate as a new customer. No bank is perfect, but I have little to complain about when it comes to BrightStar.
Bright Star
Free checking. Reasonable safe deposit fee.
Employees aren't especially helpful or friendly
Something To Think About With Bright Star
I called today to open an account with Brightstar. I wanted to have a Star preminum membership to take advantage of the 5yr cd rate for an Ira due in 60 days -jumbo cd. I qualified for the membership and had no problem with the requirements. One odd thing was you needed to use the Visa check card several times a month but she refused to tell me how many times
Now for the kicker- the rep told me that they might not be able to address my IRA( within my time frame) since I needed to established a relationship with them. I had no idea what she was talking about and said that I didn't undestand since I met all the requirements. She said they want people in the Star to have a strong relationship with them and this might take several months. This may mean car loans and things of that nature I have no idea.. I asked several more questions and finally gave up. She kept trying to direct me to their regular cd rates. I said I wasn't interested and that was that.
Inaccurate Credit Reporting Practices
I paid off a HELOC mortgage with BSCU in August 2017, as evidenced of a satisfaction of mortgage filed with the county. My account has always had a perfect payment history reported and it was paid in full. In April, the account was all the sudden being reported as open and delinquent. I filed a dispute with the credit bureau and my account information was restored and report accurately. I went back to my happy life. Fast forward to today, June 2022 and the inaccurate account shows as open and delinquent...AGAIN resulting in a decrease of 202 points to my impeccable credit score. This company has got to get their reporting practices under control. This is unacceptable.
Data as of Q1 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 67347 |
| Year Chartered | 1946 |
| Employees | 166 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.89% |
| Return on Equity - YTD | 10.57% |
| Annual Interest Income | $5.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $731.7MM$650.7MM |
| Loans | Q1 2022vs Q1 2021 | $525.9MM$424.2MM |
| Deposits | Q1 2022vs Q1 2021 | $645.4MM$588.1MM |
| Equity Capital | Q1 2022vs Q1 2021 | $60.3MM$55.0MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $1.9MM$3.8MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $615.00K$905.00K |
| Real Estate Owned | Q1 2022vs Q1 2021 | $0$0 |