Grow Financial Federal Credit Union is headquartered in Tampa and is the 6th largest credit union in the state of Florida. It is also the 125th largest credit union in the nation. It was established in 1955 and as of March of 2025, it had grown to 580 employees and 285,462 members at 27 locations. Grow Financial Federal Credit Union's money market rates are 5X the national average, and it has an A health rating.
Field of Membership Restrictions
Grow Financial Federal Credit Union is open to active and retired military and their family. Membership is also open to civilian employees of MacDill Air Force Base and other Select Employer Groups. (Membership requirements are listed in the credit union's online application).
See current membership details
Gotta Say: Don't Bother
So time is short and I took another look at the paltry offerings out there for long term CDs. Decided to give Grow Financial consideration, and tried to apply for membership online. Got all the way to the end and a red error message came up, saying there was a problem with my online application and I needed to go to a Store or call them. It was Saturday, and the call center could only put me in the queue for someone to call me back next week. That happened Monday morning at 6:58 am. I learned that my application data was not saved/available, and applied again over the phone. Was instructed to provide proof of my $5 donation to their chosen charity, and to upload my D/L scan, both to the automated system and to the rep. just in case I had problems, which is "often the case". Paid my 5 bucks and emailed my D/L scan, but couldn't use their secure messaging system (not enrolled yet!) so simply emailed. Then I got a call back from the rep., saying she had been on the phone with the Fraud Dept., and they told her that California was too far away from them and I for that reason I couldn't qualify for membership. I pointed out that that is not included in their website qualification data, and I had already made my donation at her request. She apologized but was firm that they could not possibly accept my application. Five minutes later their automated system sent me an email asking for my D/L scan and saying they are "excited to have received my membership application..." This place is a colossal waste of time.
A TOTAL JOKE OF A BANK
I have a credit score of 819, own 3 homes free and clear, but was denied to open a savings account and a MM account. Asked for SPECIFIC REASON(S) why I was rejected. Answer...you will have to wait until you receive a written letter in the mail. This is 2024 and organized opertions used "secure" emails.
No doubt, another bank will be happy to take my $250,000 deposit.
Stay away from this bank! Overall Rating is 000000
I Was Also Declined
I applied for membership. I live in Florida. I received an email telling me I was approved. When I called to ask for my account number, I was told that my account was frozen. I hadn't even done anything! They said I need to snail mail a copy of my drivers license, which I did. I called back, and the CSR said she couldn't even get into my account and that all she could tell me was that I would receive a letter. Which I never did!!
Avoid This Credit Union
I think this is a scam to get you to donate to their pet website. After applying for an account, divulging private information, calling them numerous times for over a week, hearing promises none of which was kept, and then simply getting ghosted, this organization is a total waste of time.
Horrible Experience
I applied for membership. I received an email saying they were excited and asked for a copy of my driver's license, social security card, two proofs of address. I provided all of these documents. I have lived at the same address for 43 years. I am very concerned that after I sent all of this personal information I received an email from them that "we are unable to approve your account request at this time. A formal notice will be mailed to you." I was not able to receive any response from the customer service telephone number. Apparently, the CSRs don't have any communication with the department that approves or rejects applications. I would not deal with this Credit Union. I would never recommend it to anyone.
Absolutely The Worst Banking Experience Of My Life
This companyu cares zero about its customers and will do whatever to try and keep a captive audience
Is This CU For Real Part 2
An update on my previous review. I called and was told that an account has been opened in my name. The CSR couldn’t answer why I received a debit card when I never applied for an account. Plus why if someone else opened it using my name, why would they use my address? Today I received a letter from Grow Financial stating that they couldn’t open any accounts YET they did a pull on Chex System. What gives them the right to pull from Chex System when I never dealt with this Credit Union. What kind of credit union sends a debit card out before an account is opened and funded. This whole thing stinks. I swear this Credit Union is just phishing information. I did call Chex System to dispute the pull.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 9976 |
| Year Chartered | 1955 |
| Employees | 580 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.7% |
| Return on Equity - YTD | 6.65% |
| Annual Interest Income | $48.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $3.83B$3.72B |
| Loans | Q1 2025vs Q1 2024 | $2.82B$2.64B |
| Deposits | Q1 2025vs Q1 2024 | $3.17B$2.9B |
| Equity Capital | Q1 2025vs Q1 2024 | $395MM$365.6MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $41.8MM$38.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $13.4MM$9.1MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $92K$0 |
