ICYMI: Suncoast Credit Union tops $10 billion in assets

Suncoast Credit Union, based in Tampa, FL, topped $10 billion in assets on May 31, making it the 10th largest credit union in the United States and the largest credit union in Florida. Suncoast dates back to 1934 and now serves 839,000 members in 21 Florida counties. To support the high volume of growth over […]

Suncoast Credit Union, based in Tampa, FL, topped $10 billion in assets on May 31, making it the 10th largest credit union in the United States and the largest credit union in Florida. Suncoast dates back to 1934 and now serves 839,000 members in 21 Florida counties.

To support the high volume of growth over the next decade, Suncoast is placing an emphasis on building infrastructure and capacity to scale operations, with a focus on technology and digital capabilities. As part of this multi-year plan, Suncoast was able to provide upgraded payment and mobile initiatives, as well as evening and Saturday service hours through Interactive Tellers.

Additional milestones in 2018 include:

  • achieved a record year in lending, originating $3.999 billion in new loans
  • received a 97% positive rating by mystery shoppers, outranking industry peers by 2%
  • opened an innovative new administrative building and added three new branches
  • expanded its charter to 18 additional counties
  • gave its members $71 million in total financial benefits (that’s an average benefit of $206 per household)
  • continued to extend its commitment beyond members and into the communities it serves. Employees volunteered more than 30,000 hours in 2018, sponsored 378 community events and became the official credit union of the Florida Tropics Soccer Club. The Suncoast Credit Union Foundation donated a total of $3.3 million in 2018 to support initiatives that promote the education, health and emotional well-being of children in those communities.
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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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