Suncoast Credit Union is headquartered in Tampa and is the largest credit union in the state of Florida. It is also the 12th largest credit union in the nation. It was established in 1978 and as of June of 2023, it had grown to 2,405 employees and 1,152,141 members at 77 locations. Suncoast Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership in SunCoast Credit Union is open to those who live, work, worship, or attend school in the Florida counties of Alachua, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Desoto, Dixie, Duval, Gilchrist, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Leon, Levy, Manatee, Marion, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, or Volusia. Alumn of Florida College in Temple Terrace also qualify for membership.
See current membership details
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4/10 - Increased CD Rates
A Great Banking Experience
My experience with Suncoast Federal Credit union has been nothing but pleasurable. I currently have 2 savings accounts and a checking account and haven't had any issues. The credit union offers about 5 times the interest of the big national banks. My debit card allows me to get rewards points which is a big bonus for me. The accounts are also amazing to have because there are no account minimums or requirements to have them. I know that if were banking at a big national bank I would have been charged a fee a few times due to the account requirements. I've been banking there many years and wouldn't think about switching to another bank. Every time I go to that bank I have had great customer service, which matters to me.
Suncoast Credit Union in Florida
I recently joined Suncoast after a friend mentioned that they are now open for residents on my county in Florida. I previously wanted to join, but it limited to teachers and police...local workers. I found their rates for loans to be much lower that rates offered by other big banks. I am sick of the rates that Bank of America charges. With online banking, I don't ever go to a branch unless it is a special situation. Suncoast does have a local branch about 5 minutes from my house, so if I do need to go there, it is very easy and convenient to get too. I just found that they offer investment services and I am very interested to learn about those.
Careful With Suncoast Auto Loans
Be careful with Suncoast Credit Union Auto Loans. I have been a member and have had loans with them for many years. I recently used Suncoast for my Auto loan. I usually pay off my loans quickly by making principle-only payments. I made a significant principle-only payment, and once it was recorded online, I found out they paid off some of their loan interest; after that, the rest of my "principle-only payment" money went toward the principal of my loan. After numerous phone calls with different customer service people, different explanations, and then having to go into two separate branches, I found out that Suncoast Credit Union REQUIRES you to pay pending interest first before they apply your money to the principal. WOW, what a rip-off. The office manager showed me the e-manual, which says that on consumer loans, interest MUST be satisfied first before they apply any money to the principal. I was so upset and decided I would pay off this loan immediately and never take another load from Suncoast Credit Union.
They Will Refuse You Access To Your Money
Our parents are members of SCU. We followed in their footsteps and have been members for over thirty years. Tomorrow we will be closing our account. I needed to transfer funds around today and accomplished a $1,500 transfer no problem. I then went to make another transfer and received a notification pop up that only $1,000 max transfer allowed a day. So I called and the lady informed me it was changed a year ago. I explained we want it removed and asked how to accomplish that. She refused.
We deposit ~$300k annually into Suncoast and like every red blooded American want unhampered access to all of OUR money ALL OF THE TIME! My husband then called and requested to speak with a manager, THE LADY REFUSED TO PUT A MANAGER ON THE PHONE. Make no mistake, our accounts will be closed tomorrow. Over $1,000 they will now lose $300,000. Sounds like they have some of the brightest minds working at Suncoast, or actually not working. Take your money elsewhere!!!!!!!
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68645 |
| Year Chartered | 1978 |
| Employees | 2405 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.08% |
| Return on Equity - YTD | 15.25% |
| Annual Interest Income | $324.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $16.72B$15.77B |
| Loans | Q2 2023vs Q2 2022 | $12.62B$11.20B |
| Deposits | Q2 2023vs Q2 2022 | $14.48B$14.20B |
| Equity Capital | Q2 2023vs Q2 2022 | $1.20B$1.13B |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$136.2MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $45.2MM$29.4MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
