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'''Space Coast Credit Union''' (also known as '''SCCU''') is a state-chartered [[credit union]] headquartered in [[Melbourne, Florida]]. It is insured and regulated by the [[National Credit Union Administration]] (NCUA).<ref>{{cite web |url=http://www.ncua.gov/Legal/Documents/Reports/CUDIR2012.pdf|format=PDF|title=2012 Directory of Federally Insured Credit Unions|publisher=National Credit Union Administration |accessdate=June 25, 2015}}</ref> As of 2015, SCCU had over 300,000 members and $4 billion in assets, making it the third largest credit union in Florida.<ref name="expansion">{{cite news|url=http://www.floridatoday.com/story/money/business/2015/06/23/space-coast-credit-union-breaks-ground-baytree-expansion/29169385/|title=Space Coast CU Begins $30 Million Expansion|first=Wayne T.|last=Price|date=June 24, 2015|newspaper=Florida Today|accessdate=June 25, 2015}}</ref>
'''Space Coast Credit Union''' (also known as '''SCCU''') is a state-chartered [[credit union]] headquartered in [[Melbourne, Florida]]. It is insured and regulated by the [[National Credit Union Administration]] (NCUA).<ref>{{cite web |url=http://www.ncua.gov/Legal/Documents/Reports/CUDIR2012.pdf|format=PDF|title=2012 Directory of Federally Insured Credit Unions|publisher=National Credit Union Administration |accessdate=June 25, 2015}}</ref> As of 2019, SCCU had over 420,000 members and $4 billion in assets, making it the third largest credit union in Florida.<ref>{{Cite web|url=https://assetbrief.com/credit-unions/space-coast-credit-union-y8gj65y|title=Space Coast Credit Union Profile - Ratings, ATMs, Fees, Interest Rates & More|website=Asset Brief|language=en|access-date=2019-10-03}}</ref>


==History==
==History==

Revision as of 19:04, 3 October 2019

Space Coast Credit Union
FormerlyPatrick Air Force Base Credit Union
Company typeCredit Union
IndustryFinancial Services
Founded1951
Headquarters
Melbourne, Florida
,
USA
Number of locations
58[1] (2015)
Area served
Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, Volusia Counties in Florida
Key people
Tim Antonition, CEO/President
ProductsSavings; Checking; Consumer loans; Mortgages; Credit cards; Investments; Online banking
Total assetsUS$4 billion (2017)
Number of employees
847[1] (2015)
WebsiteSCCU.com

Space Coast Credit Union (also known as SCCU) is a state-chartered credit union headquartered in Melbourne, Florida. It is insured and regulated by the National Credit Union Administration (NCUA).[2] As of 2019, SCCU had over 420,000 members and $4 billion in assets, making it the third largest credit union in Florida.[3]

History

SCCU was formed in 1951 as Patrick Air Force Base Credit Union, serving Patrick Air Force Base.[4] The credit union started with $372 and 7 members.

The company changed its name to Space Coast Credit Union in 1980.[5]

In 2009, SCCU merged with Eastern Financial Florida Credit Union, growing SCCU's assets to $3.2 billion and 380,000 members.[6] Prior to the merger, bad loans and investments made during the 2007–2008 financial crisis put Eastern Financial into distress.[7] NCUA took control of Eastern Financial and turned operations over to SCCU.

In 2011, SCCU spun off its Tampa Bay area operations to MidFlorida Credit Union, gaining MidFlorida 16,000 members, 6 branch locations, and $115 million in assets.[8]

Alive Credit Union acquired two of SCCU's branches in Jacksonville in 2012.[9]

Membership

Membership at SCCU is open to anyone who works or lives in one of 14 Florida counties: Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, or Volusia.[10]

References

  1. ^ a b Cite error: The named reference expansion was invoked but never defined (see the help page).
  2. ^ "2012 Directory of Federally Insured Credit Unions" (PDF). National Credit Union Administration. Retrieved June 25, 2015.
  3. ^ "Space Coast Credit Union Profile - Ratings, ATMs, Fees, Interest Rates & More". Asset Brief. Retrieved 2019-10-03.
  4. ^ Oates, Sarah (September 24, 1989). "Brevard Credit Union Takes Off Like Rocket". Orlando Sentinel. Retrieved June 17, 2014.
  5. ^ "Space Coast Credit Union: Private Company Information". Bloomberg Businessweek. Retrieved August 22, 2014.
  6. ^ Samaad, Michelle A. (July 1, 2009). "Space Coast, Eastern Financial Merger Gets Green Light". Credit Union Times. Retrieved June 17, 2014.
  7. ^ Harrington, Jeff (April 24, 2009). "Regulators seize Eastern Financial Florida Credit Union". Tampa Bay Times. Retrieved August 6, 2014.
  8. ^ Roberts, Ed (December 12, 2011). "Space Coast CU Spins Off Six Branches, 16,000 Members to MidFlorida CU". Credit Union Journal. Retrieved June 17, 2014.
  9. ^ Roberts, Ed (August 2, 2012). "NCUA Clears Space Coast CU Spin-Off of Jacksonville Branches". American Banker. Retrieved August 22, 2014.
  10. ^ Berman, Dave; Price, Wayne T. (December 4, 2014). "Space Coast Credit Union's Plan May Add 600 Jobs". Florida Today. Retrieved December 5, 2014.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Space_Coast_Credit_Union&oldid=919438900"