EdFed - The Educational Federal Credit Union is headquartered in Miami and is the 17th largest credit union in the state of Florida. It is also the 283rd largest credit union in the nation. It was established in 1935 and as of September of 2022, it had grown to 281 employees and 90,600 members at 7 locations. EdFed - The Educational Federal Credit Union has an A+ health rating.
Membership in EdFed is open to employees and students of Miami-Dade County Public Schools, Miami-Dade College, Christ Fellowship and Academy, Dade Christian School, Mater Academy East Charter Middle/High School, The Thinking Child Christian Academy, Charter Schools Sponsored by Miami-Dade Public Schools, and Balere Language Academy. Membership is also open to employees of United Teachers of Dade and members of Alliance for Early Care & Education. Immediate family and household members are also eligible to join.
See current membership details
South florida educational credit union has a very small history with me but within the month i have been there it has become my favorite credit union/ bank i have been a part of. The union is for any students or teachers from the florida's teachers union you get many benefits from being a member.One of my favorite things about this bank is they give me huge discounts on movie tickets when i buy there and sometimes free tickets for my friends !Although my fav benefit from the union is there rates on loans and credit cards guarrented the lowest apr you can find.The banks staff has always been very helpful and friendly and seem to really care about there customers ive never left without a smile on my face i would recommened anyone who is able to join to this union to join :)
If I could rate the below a 1 DONE... I was not offered a loan after being with them for 2 decades. Because of the pandemic I was out of work for 3 months and placed on FMLA-380F. My source of income dropped but returned back to work making my year to date income from the company less than it would be. Managerz denied it because of this reason. When she asked if she needs verification of length of employment with my company she then turns and says you have a derogatory remark which should not disqualify me from a loan with a high FICO score that I have.
This institution has little regards for others and did not even approach me with other options which I brought to their attention. Mangerz could not help me or rather I lie on my application to get a loan. I am upset with Miami and who they choose to give loans and have little regards for consumers who have been with them for years of servicing my needs. I smell prejudice!!! Waste of time after being with credit union ...not customer friendly. I should have been offered a lower amount if not the full amount
After banking at this institution for many years with substantial balances in my accounts, I inquired about opening a business checking account. I found that the SFEFCU is extremely customer unfriendly when it comes to business accounts. First, they require the customer to provide a certified copy of corporate organization documents. If you do not have a certified copy, obtaining it from the state requires a $30 fee and a two week turnaround time. No other bank I contacted requires this because they do their own homework on this issue. Second, the SFEFCU requires a copy of the company's operational agreement. The catch here is that by state law not all corporate entities are required to have an operational agreement. This means that if you want to open a business account with the SFEFCU you may need to draft such an agreement which could involve incurring legal fees. Next, the SFEFCU requires "resolution language" to open a business account. The representative I spoke to didn't even know what this is. Finally, once all the paperwork is gathered, it must be submitted to some Board at the SFEFCU. The Board can take up to two weeks to decide if your account will be approved. So to summarize, if you do not have a certified copy of your corporate documents opening a business account at the SFEFCU can take up to a month, not to mention the hassle of providing them with documentation almost no other bank requires. Seriously?
|Return on Assets - YTD||0.54%|
|Return on Equity - YTD||4.84%|
|Annual Interest Income||$27.4MM|
|Assets and Liabilities|
|Assets||Q3 2022vs Q3 2021||$1.60B$1.58B|
|Loans||Q3 2022vs Q3 2021||$742.9MM$577.6MM|
|Deposits||Q3 2022vs Q3 2021||$1.40B$1.33B|
|Equity Capital||Q3 2022vs Q3 2021||$181.2MM$242.2MM|
|Loan Loss Allowance||Q3 2022vs Q3 2021||$1.6MM$1.3MM|
|Unbacked Noncurrent Loans||Q3 2022vs Q3 2021||$628.00K$193.00K|
|Real Estate Owned||Q3 2022vs Q3 2021||$0$0|
Rates for EdFed - The Educational Federal Credit Union are currently being reviewed.
|EdFed - The Educational Federal Credit Union Locations|
|Branch Office||17500 S Dixie Hwy||Miami, FL 33157|
|Branch Office||1498 NE 2nd Ave||Miami, FL 33132|
|Branch Office||5890 NW 158th St||Miami Lakes, FL 33014-6722|
|Branch Office||16460 SW 304th St||Homestead, FL 33033-3260|
|Branch Office||7800 SW 117th Ave||Miami, FL 33183-3825|
|Branch Office||18975 NW 2nd Ave||Miami, FL 33169|
|Branch Office||2310 SW 27th Ave||Miami, FL 33145-3642|