What Are a Few Facts About Suncoast Federal Credit Union?


Quick Answer

Suncoast Federal Credit Union is a financial institution with headquarters on the western coast of Florida, which caters primarily to alumni of Florida College or residents of counties such as Sarasota, Citrus and Levy. The institution offers a wide range of accounts, including both personal and business options as well as a variety of loan types and wealth management services.

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Full Answer

Suncoast Federal Credit Union began as Hillsborough County Teachers Credit Union in 1934, operating specifically as an institution for educators in the area. In 1975, the credit union changed its name to Suncoast Federal Credit Union and continued to expand to service the surrounding counties. As a federally insured credit union, it operates as a not-for-profit entity, meaning its goal is to provide the best service to its members rather than generate revenue for its shareholders. Also, all of its members receive partial ownership of the institution in a type of cooperative system, which results in members receiving lower fees and better rates on loans.

The credit union offers its members the standard assortment of financial services, including several varieties of personal checking and savings accounts. It also offers banking tools to local businesses, which includes lines of credit and loans in addition to accounting services. Personal banking customers can apply for mortgages and personal loans, invest funds through the institution and open retirement accounts. The credit union offers a similar suite of services specifically for students.

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