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South Florida Educational Federal Credit Union

Popular Accounts at this Credit Union

1.56%5-year CD60 Month CD
0.50%1-year CD12 Month CD
0.25%SavingsSpecial Savings

Overview / Commentary
7800 SW 117th Ave
Miami, FL 33183-3825

South Florida Educational Federal Credit Union is headquartered in Miami and is the 15th largest credit union in the state of Florida. It is also the 269th largest credit union in the nation. It was established in 1935 and as of December of 2017, it had grown to 229 employees and 80,226 members at 7 locations. South Florida Educational Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in South Florida Educational Federal Credit Union is open to employees and students and their families 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.
See current membership details

Reviews (2)

South Florida Educational Credit Union

Posted by: shabtai28 | Jun 2, 2011

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 :)

Not Business Friendly

Posted by: rcf | Jul 26, 2017

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?


Health Grade Components

NCUA #176
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD3.91%
Annual Interest Income$26.7MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$1.08B$1.02B
LoansQ4 2017vs Q4 2016$239.6MM$220.0MM
DepositsQ4 2017vs Q4 2016$867.2MM$814.0MM
Equity CapitalQ4 2017vs Q4 2016$200.4MM$194.9MM
Loan Loss AllowanceQ4 2017vs Q4 2016$1.3MM$979.00K
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$1.4MM$553.00K
Real Estate OwnedQ4 2017vs Q4 2016$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

South Florida Educational Federal Credit Union Savings Account Rates

0.55%--IRA Savings
0.25%--Business Savings
0.25%$100-Savings Account
0.25%--Special Savings
0.25%--Business Special Savings

South Florida Educational Federal Credit Union Money Market Rates

0.35%*$100k*-Money Market
OTHER TIERS: 0.20% Up to $50k | 0.25% $50k - $100k

South Florida Educational Federal Credit Union Checking Account Rates

0.15%$3,500-Business Plus Checking
0.15%*$500*-Checking Account
OTHER TIERS: 0.05% Up to $500

South Florida Educational Federal Credit Union CD Rates

1.61%$100k-60 Month Jumbo CD
1.56%$1k-60 Month CD
1.11%$100k-48 Month Jumbo CD
1.06%$1k-48 Month CD
0.90%$100k-36 Month Jumbo CD
0.85%$1k-36 Month CD
0.65%$100k-24 Month Jumbo CD
0.60%$1k-24 Month CD
0.60%$100k-18 Month Jumbo CD
0.55%$1k-18 Month CD
0.55%$100k-12 Month Jumbo CD
0.50%$1k-12 Month CD
0.50%$100k-6 Month Jumbo CD
0.50%$100k-9 Month Jumbo CD
0.45%$1k-6 Month CD
0.45%$1k-9 Month CD
0.45%$100k-3 Month Jumbo CD
0.40%$1k-3 Month CD

South Florida Educational Federal Credit Union IRA Rates

1.61%$100k-60 Month Jumbo IRA
1.56%$1k-60 Month IRA
1.11%$100k-48 Month Jumbo IRA
1.06%$1k-48 Month IRA
0.90%$100k-36 Month Jumbo IRA
0.85%$1k-36 Month IRA
0.65%$100k-24 Month Jumbo IRA
0.60%$1k-24 Month IRA
0.60%$100k-18 Month Jumbo IRA
0.55%$1k-18 Month IRA
0.55%$100k-12 Month Jumbo IRA
0.50%$1k-12 Month IRA
0.50%$100k-6 Month Jumbo IRA
0.50%$100k-9 Month Jumbo IRA
0.45%$1k-6 Month IRA
0.45%$1k-9 Month IRA
0.45%$100k-3 Month Jumbo IRA
0.40%$1k-3 Month IRA

South Florida Educational Federal Credit Union Locations
Branch Office17500 S Dixie HwyMiami, FL 33157
Branch Office1498 NE 2nd AveMiami, FL 33132
Branch Office5890 NW 158th StMiami Lakes, FL 33014-6722
Branch Office16460 SW 304th StHomestead, FL 33033-3260
Branch Office7800 SW 117th AveMiami, FL 33183-3825
Branch Office18975 NW 2nd AveMiami, FL 33169
Branch Office2310 SW 27th AveMiami, FL 33145-3642