USF Federal Credit Union is headquartered in Temple Terrace and is the 23rd largest credit union in the state of Florida. It is also the 386th largest credit union in the nation. It was established in 1985 and as of December of 2024, it had grown to 212 employees and 75,687 members at 11 locations. USF Federal Credit Union's money market rates are 10X the national average, and it has an A health rating.
Field of Membership Restrictions
USF Federal Credit Union is open to students, faculty and staff of the University of South Florida, members of the USF Alumni Association, and affiliated organizations. Eligibility also extends to 1) immediate family and household members of current credit union members; 2) Municipal, State, and Federal Government employees, and veteran or active Military personnel stationed or working in Manatee, Sarasota, Desoto, Lee, Charlotte and Pinellas counties; 3) members of any Anabaptist congregation in the aforementioned Florida counties. (A complete list of affiliates and eligibility requirements are posted on the credit union's website)
See current membership details
Bank Elsewhere
I've been with USF FEDERAL CREDIT UNION for over 10 years. Needless to say, there have been a lot of changes, and not for the better. Their Mortgage department dropped the ball on me forgot to call me back when they said my application was in process. Wasted valuable time and cost me the lower interest rate I was hoping for. They pre-qualified me for over 100k less than I was approved for elsewhere. I'd be living in a shack if I went with them. Also, they don't process transactions in the order they were made in. They process them in a fashion that will give them the highest number of NSF Fees. My new bank won't charge an NSF fee if the account is brought up to the correct balance on the same day, and they will also waive a fee once a month should you miss that deadline. Not sure why I dealt with this credit union so long. Keep your money and bank elsewhere
Not Good, Overcharge
I have been a member for a few years, and I am now looking for a new bank. USF FCU has over charged me convenience fees. Now I understand if the account were empty, I would understand. However, they charged me when I had over $40 left in the account. This has happened twice. The first time, the reversed the charges and they blamed a computer, ok no big deal. When it happened again, they treated me like a 5 year old, explaining I was at fault, even though they charged me a convenience fee 5 times. One charge, maybe two, ok maybe I made a mistake. Charge me 5 times, that's robbery, especially when they charged me when I had money in the account. I don't know if it's their attempt to make some money or they're owned by pirates now, but that ain't right. don't bank USF Federal Credit Union.
I Wont Recommend It
I have a credit card with them. My payday is every 16, the last month I paid on the 14th, that same day they sent me an email saying that they had received my payment, to my surprise they charged me $ 27 for late payment. I wrote to them and their response was, that they take up to 3 days to make the payment and that therefore they were not going to refund the late fee. The worst company ever, I definitely don't recommend them.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24223 |
| Year Chartered | 1985 |
| Employees | 212 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.27% |
| Return on Equity - YTD | 2.98% |
| Annual Interest Income | $62.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $1.2B$1.12B |
| Loans | Q4 2024vs Q4 2023 | $1.01B$898.7MM |
| Deposits | Q4 2024vs Q4 2023 | $1.02B$923.1MM |
| Equity Capital | Q4 2024vs Q4 2023 | $107.2MM$104.4MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $8.5MM$8.2MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $6.8MM$7.9MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
