Sarasota Coastal Credit Union (or Sarasota Coastal) is a state chartered credit union headquartered in Sarasota, Florida, and regulated under the authority of the National Credit Union Administration (NCUA). As of December 2007, Sarasota Coastal had $234,950,153 USD in assets, and 24,984 members.
On December 12, 1953, seven school teachers came together and signed a Certificate of Organization to form the credit union. The original amount of $130 used to organize the credit union was deposited by those seven individuals. The name of the credit union started as The Sarasota County Teacher’s Credit Union.
In the years that have followed, Sarasota Coastal adopted its current name in response to mergers with other credit unions, the inclusion of Sarasota County employees, and other select employer groups.
Today, Sarasota Coastal’s field of membership is open to all persons living or working in Manatee, Sarasota and Charlotte Counties, including members of the immediate family of such persons who are Florida residents. .
As with all credit unions, membership in Sarasota Coastal is limited to individuals sharing the common bond defined in its credit union charter. Membership in Sarasota Coastal is open to:
"Once a Member, always a Member." After joining Sarasota Coastal, one may remain a Member for life, even if they move from the community.
Like all credit unions, Sarasota Coastal is governed by a volunteer Board of Directors, elected by and from its membership. The Board is comprised of seven members who serve for three-year terms. Board members can be re-elected to consecutive terms by the membership.
Sarasota Coastal is a member of the Florida Credit Union League, through which it is associated with the Credit Union National Association.
Sarasota Coastal offers the typical suite of account services offered by most financial institutions, including savings accounts, checking accounts, IRA accounts, and certificates of deposit. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($5) literally represents their share of ownership in the credit union. Sarasota Coastal also offers members consumer loans, credit cards, mortgages, home equity loans, and HELOCs. Sarasota Coastal also offers an array of products for Small Business Services members.
Sarasota Coastal has 5 branch locations within the tri-county field of membership. In addition, Sarasota Coastal offers extensive online services including online banking and bill payment services, via its website,
Sarasota Coastal has been named a Sarasota Green Connection (SGC) Approved Business, which means that they have been certified as having met SGC’s criteria of providing green, environmentally preferable products and/or services. This criteria has been modeled after Co-op America’s guidelines for the Co-op America Business Network (CABN). .