This CU has a history of special CDs if you wait for them. The 3-yr and 5-yr step-up CDs are listed here. They also have a Christmas Club that you can use as a one-year CD. The one that pays out in November 2015 pays 2% on up to $4,000. The November 2014 one paid 3% on up to $3,000. These do not roll-over; you can add to them during the year (as with a typical Christmas Club), or invest all at once.
Very friendly. Good checking, ATM, safe deposit.
Fees after fees for sometimes their mistakes. Avoid using this bank as their customer service is also horrible. Their transactions page and mobile apps are full of glitches. Even the way their bank transactions post of horrible and not normal like other banks. Just walk away!
I hope you are reading this before you put any money at MidFlorida Credit Union, or it may be too late to help you.
MidFlorida credit union used to be great, but not anymore. This concerns their hidden fee of the Early Withdrawal Penalty for CDs. Most banks that I know of charge a 6-month penalty for early withdrawals, as did MidFlorida for many, many years. I have dealt with them over 15 years, and it has always been the same as far as I know. The MidFlorida penalty is six times the industry average, obscene in my opinion.
In 12/2012 they quietly changed, and put in their obscene 3 year interest penalty on a 5 year CD. Of course, this was not disclosed by the MidFlorida employee when my CD was being opened about three months later, what a surprise. I would be stunned if anybody who knows about this ever opened a CD there. Doing the calculations, for their 5 year CD currently paying 1%, at the end of the first year you would pay MidFlorida 2% on your principle, after the second year you would pay MidFlorida 1% on your principle, and only at the end of the third year, after your money has been held prisoner all that time, would you be able to get it back, at 0% interest for the three years. In the fourth year you would be able to clear 1%, which works out to an abysmal 0.25% interest per year. Only at the conclusion of the CD, and not one day sooner, would you be able to collect the interest you are due without their obscene penalty.
Now, in addition to that, the interest rates at MidFlorida are terrible. Currently, as of 9/2/2014, MidFlorida is paying 1% for the 5 year CD. State Farm Bank is paying over twice as much, 2.15% APY, with just the 6-month early withdrawal penalty. For an even higher rate, EverBank in Tampa is paying 2.30% APY, but their early withdrawal penalty is 15 months, still less than half of MidFlorida's penalty.
Customer service is abysmal, as they think they can ignore their unhappy customers, but this customer wants to let people know, so they can make an informed decision.
Mid Florida Credit Union is a very nice banking alternative in central Florida. Our family have banked with them for at least 10 years now. We have gotten a really competitive-rate loan from them, also had a safety deposit box. Their savings and money market accounts have no monthly fees if you keep a small minimum balance ($100) - also you can access your accounts with debit cards. Their service staff is very community oriented, with popcorn served in the lobby, and friendly cashiers and service personnel to meet all your needs. I took off 1 point on customer service because they tend to be understaffed at times - we have had to wait up to half an hour to access our safe box on a few occasions. But overall Mid Florida is a really good place to do your banking.
Midflorida credit union is very disappointing compared to Eastern Financial Credit Union that I joined 16 years ago.
Black members are treated very differently than nonblack members, evidenced by the fact that some of my nonblack friends bank there and do not have to go through the same things as I do. I make deposits from my business account and even though it has overdraft protection, I have to wait for the teller to call the bank to see if I have enough funds to deposit a check. If there is not enough funds at the time they call, a freeze is put on my deposit for 3 days!!!! My nonblack friends with business accounts never encounter that problem!! Sad in 2013!!!
There should be an option for zero stars!!!
After calling a local branch and explaining the car I was going to buy I was told I was approved for 10,000 on the exact car I was purchasing. I went and purchased the car and took the title to the bank and was then told I was only approved for $8500. They were not willing to help in any way whatsoever. Completely unacceptable!!!
you may want to think twice about trying there secured visa cards. i have had constant issues. The card was diactivated several times for no reason was told the first time someone accidently hit a wrong key. The next time i was diactivated saying my card had expired when it says 2015! Then i was told i could close the account at the branch and receive by secured deposit of 400 dollars back that I put up front in cash! well that didnt happen i have to wait 2 months to receive my deposit back. oh and if you like to use your card at the pump forget that convenince you have to go in the store to swipe your card it never works at the pump. never have i had so much inconvience with a credit card! Of course no one in the bank can assist either because the credit department is a completely separate intity. i give midflorida a Negative 0 stars horrible!Still dont know if or when i will receive my 400 dollars back we will see if it even happens at this point!
I have an account with Mid Florida in Lakeland and went this afternoon to cash several checks. One check was a Social Security Check plus several Charles Schwab Checks. I was told they would NOT CASH MY CHECKS since I did not have enough money in my personal account and I could not use my business account. I have cashed these same checks in the past several years, but not today. The teller was rude in my opinion and I will be closing all my accounts this week. I took the checks to my new bank BB&T and they were cashed with no problem. I told the teller if she treated all there customers the same way she would not have a job. She LACKED COMMON SENSE AND DOESN'T HAVE THE BRAINS TO KNOW YOUR CUSTOMERS WRITE YOUR PAYCHECK. D. SAYLOR
I have to agree with all previous post. Except the car repo that has not happen to me..Luckily my car is with another bank. I have been with credit union since Eastern and even when they went to SCCU the transfer was not this bad.
I think I have finally gotten things straight but it's been awhile
I got only 45$ from a total if 102.50$ back from a miss calculation on my behalf in a first time incident, I believe that I was mistreated in this case and honestly will be looking for another place to bank with since I was not given the correct opportunity. In my opinion I was treated unfairly. Plus not to add the fact that felt harrased by the lady over the phone with her questions and all that , the way the handle the situation is just poor! Advice there are better credit unions out there! Over and out!
They bought out my car loan from SCCU and I was never notified. I found out two months later when my car was repossessed. I was used to the payment being automatically debited and didn't notice I hadn't been paid. When I called the orignal bank and discovered it had been sold to MidFlorida. I called their customer service to get the information I needed to make the payment needed to reclaim. Apparently, they're trained over there to ask you chastising questions about what happened with the payment and make you feel as though whether they'll let you make the payments or not depends on your answers. It's already an incredibly situation for the customer involved. There is no reason to add to it. Just give me the information I need and leave the games out of it.
Mid Florida has handeled there takeover or switch from Space Coast to Mid Florida so poorly I am closing out my account from loosing trnsaction history records online to accidentaly debitting from my savings when I use my debit card to stopping my direct deposit and blaming my work when they showed me the proof that they submitted my information to the credit union a month ago bullshit this credit union suck.
Have several accounts with Mid Florida. Two "sub" accounts are bled dry as soon as I put money in them. One biz/one personal.I can put in the minimal amount,to "zero it out",or pad it.
Either way...the $$$ is gone...in a hurry.
This fee/that fee/the other fee.The money goes missing.
The commercials you folks see on TV about all the "free" stuff is BS.
They could not survive on free.
Believe half of what your hear...and all you see....(as in monthly statements).
Mid Florida flat out lies to their customers.
Avoid them like a STD.