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 117th largest credit union in the nation. It was established in 1955 and as of December of 2022, it had grown to 560 employees and 255,412 members at 26 locations. Grow Financial Federal Credit Union's money market rates are 4X the national average, and it has a B+ 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
Related Posts
2/28 - Grow Financial Federal Credit Union Offers 2.75% APY Money Market
2/26 - Correction Of Minimum Amt For Money Market At 2.75%
2/26 - Grow Financial 2.75% Money Market Special
2/15 - Grow Financial Federal Credit Union Adds 15-Month CD, 3.35% APY
2/14 - Grow Financial Fed Credit Union 3.35 APY On 15 Month CD
Very Impressed!
Very impressed!
Initially I was concerned with negative feedbacks. Those negative feedbacks are mainly for loans. Due to their current high 3.35% APY 15 months CD, I gave it a try. Called two times before opening an account and spoke with a very helpful customer service representative each time. I finally called the third time to open an account.
Since I am not a member of numerous organizations, I had to talk with a CSR who suggested I could be a member of Friends and Family of Military. Since that option was not available online, I had to talk with another CSR.
Laila was more than helpful. She applied for me online as a member of Friends and Family of Military. She then proceeded to open an account for me. A soft pull from Equifax is required if account is not opened at a physical branch.
Laila followed up next day with me for fund transfer status. When wired fund arrived, she opened a 15 months CD for me @ 3.35% APY.
Each time you log in, you have to answer a secret question. An email is sent instantly to you notifying your account was accessed. Some may find it annoying, I find it assuring.
Grow Financial Grows Your Savings!
I have been with Grow Financial for the last four and a half years. I originally only had a savings account with them, but I liked them so much I have a checking account now. They're a credit union and local to the Tampa Bay area. The have a good amount of locations near me in Tampa and their ATM's are easy to access through the city. Although they have limited hours, their customer service is excellent my questions are solved within moments and whenever I have a bigger issue they take care of it within one to two business days. The staff is really helpful, they seem well trained and knowledgeable about all the product ans services they offer. They know me by name and give me the most respect when I come see them. My checking and savings accounts are easy to understand. The statements are clear and always on time. There's no extra fees or hidden costs, when there is a charge they ensure I know and understand before even proceeding to the next step. The only draw back I have with Grow Financial is lack of mobile support. They don't have a useful app and their website is not mobile optimized so using them when I'm on the go is very difficult to the point I check my account before I leave when I plan on using my checking or savings account. They said they're working on it, but it's been over a year without a reasonable result or improvement so I feel uneasy about it. Either way that's the most of my complaints and something I can live without if I have to.
Not worth it
My experience here was terrible. I was told different things by different people. This happened three times. In had thirty to forty minute waits for help, too. Paper statements were $5 per month which i was not told. I found out when I got my first statement. They pushed for online banking, which I do not want to do. Their services also dropped considerably during my time there. I ended up withdrawing all funds and going to a bank. It was very disappointing.
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
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 9976 |
| Year Chartered | 1955 |
| Employees | 560 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 8.73% |
| Annual Interest Income | $117.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $3.49B$3.32B |
| Loans | Q4 2022vs Q4 2021 | $2.50B$2.12B |
| Deposits | Q4 2022vs Q4 2021 | $2.96B$2.98B |
| Equity Capital | Q4 2022vs Q4 2021 | $334.9MM$317.5MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $23.8MM$16.9MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $12.7MM$9.3MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
