Suncoast Credit Union

Overview / Commentary
6801 E Hillsborough Ave
Tampa, FL 33610

Suncoast Credit Union is headquartered in Tampa and is the largest credit union in the state of Florida. It is also the 10th largest credit union in the nation. It was established in 1978 and as of September of 2022, it had grown to 2,350 employees and 1,082,957 members at 76 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

A Great Banking Experience

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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.

CU With Great Features, Not Fee Happy, But Low Rates

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I have been with this CU since 1993. Easy to bank with, convenient, not a fee happy institution, with 3 branches spread out in my area. This CU has some cool features such as MM linked with checking to cover insufficient funds without fees no matter how many times funds are transferred between accounts, interest bearing checking with no minimum balance or transaction requirements, unlimited incommoding and outgoing transfers to MM account without fees. I make deposits to my checking, then transfer all funds to the MM since it pays a sightly higher interest rate leaving just pennies balance in my checking. My only complaint with this CU is that they pay very low interest rates to their members. While the Fed has raised the interest rates 4 times since Dec 2005 this CU actually lowered the rates paid to their members on June 2017. I see lots of complains with broken ATM machines but I got rid of my ATM card 22 years ago, and have never had nor used a Debit card. I now make check deposits by smart phone but they have a maximum deposit per day of $2500, quite low compared to other CU's in my area. One positive is that the deposit shows up instantly on the account, while the other CU's place a hold until those deposits show up in the account. I also use the remote tellers where you talk to a teller on computer monitor to do your banking. I like this feature since you get extended banking hours, and Saturdays. The website has a modern look and works great. A good CU but they need to increase the interest rates they pay their members.

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.



Health Grade Components

NCUA #68645
Year Chartered1978
Primary Regulator
Profit Margin
Return on Assets - YTD0.92%
Return on Equity - YTD13.39%
Annual Interest Income$362.4MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$15.75B$14.30B
LoansQ3 2022vs Q3 2021$11.79B$9.79B
DepositsQ3 2022vs Q3 2021$14.30B$12.75B
Equity CapitalQ3 2022vs Q3 2021$1.09B$1.21B
Loan Loss AllowanceQ3 2022vs Q3 2021$134.2MM$144.0MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$34.7MM$25.6MM
Real Estate OwnedQ3 2022vs Q3 2021$0$202.00K

Rates for Suncoast Credit Union are currently being reviewed.



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