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Suncoast Credit Union could be a great choice if you live in Florida and would like to bank with a local financial institution. The credit union's strongest products are its free checking account and share certificates.
Suncoast Credit Union Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 4.25 |
| Share certificate | 4 |
| Money market account | 4 |
| Trustworthiness | 5 |
| Total | 4.25 |
Suncoast Credit Union Pros and Cons
| Pros | Cons |
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About Suncoast Credit Union
Suncoast Credit Union is a certified community development financial institution (CDFI) with over 75 branches in Florida. Members have access to over 55,000 ATMs through the CO-OP ATM network.
To be eligible for membership at Suncoast Credit Union, you or a family member must live, work, go to school, or worship in one of over 35 eligible Florida counties listed here. To become a member, you'll need to open a savings account with at least $5.
Customer support is available by phone from 7 a.m. to 8 p.m. ET on weekdays or 8 a.m. to 1 p.m ET on Saturdays.
The credit union's mobile app is rated 4.3 out of 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple store.
Suncoast Credit Union is federally insured by the NCUA. When a credit union is federally insured, this means money will be safe even in the rare circumstance that a bank shuts down. Federally insured credit unions will have up to $250,000 secure in individual accounts. If you open a joint account, then you can have $250,000 protected per owner for $500,000 total.
The Role of Community Development Financial Institutions
CDFIs serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address banking barriers.
Suncoast Credit Union has awarded over $2.7 million in scholarships to high school seniors living in nearby Florida counties. Furthermore, it has partnered with Tampa Bay Credit Unions for Kids since 1994, donating over $4 million to organizations like the John Hopkins All Children's Hospital and The Center for Autism.
In 2020, the credit union also gave over 1,900 Paycheck Protection Program loans to small businesses impacted by the pandemic.
Is Suncoast Credit Union Trustworthy?
Suncoast Credit Union hasn't been involved in any recent public settlements.
We also include ratings from the Better Business Bureau so you can understand how banks deal with customer issues. Suncoast Credit Union received an A+ rating from the BBB.
BBB ratings aren't necessarily the be-all and end-all. You may want to talk to current customers or read online customer reviews to see if Suncoast Credit Union might be a good fit.
Suncoast Credit Union FAQS
To join Suncoast Credit Union, you'll need to open a share account with at least $5. If you would like to open additional bank accounts, the Suncoast Credit Union Smartly Checking Account has a $0 minimum opening deposit, a Suncoast Credit Union Share Certificate requires at least $500 upfront, and the Suncoast Credit Union Money Market Account has a $1,000 minimum opening deposit.
Suncoast Credit Union is located in Florida. It has over 75 branches throughout the state.
Suncoast Credit Union may be a good option if you want to open a checking account that makes it easy to avoid typical bank fees. The Smartly Checking Account doesn't charge monthly service fees. It also offers free overdraft protection.
Suncoast Credit Union Bank Account Reviews
Suncoast Credit Union Regular Savings Account
no monthly service fee
0.25%
$5
- Low minimum opening deposit
- No monthly service fees
- Low interest rate
- 75 branches in Florida
- Access to over 55,000 free ATMs through the CO-OP ATM network
- To be eligible for membership at Suncoast Credit Union, you or a family member must live, work, worship, or go to school in select Florida counties
- Interest compounded and deposited monthly
- Federally insured by the NCUA
When you join Suncoast Credit Union, you must open the Suncoast Credit Union Regular Share Account with at least $5.
The savings account only pays 0.25% Annual Percentage Yield (APY), which is lower than the average savings account. If you prioritize a high interest rate, you might consider one of the credit union's other savings account options or one of our top picks from our best high-yield savings accounts guide.
Suncoast Credit Union Smartly Checking Account
no monthly service fee
0.01%
$0
- No minimum opening deposit
- No monthly service fees
- Free overdraft protection
- $29 overdraft fee
- $1.50 out-of-network ATM fee
- 75 branches in Florida
- Access to over 55,000 free ATMs through the CO-OP ATM network
- To be eligible for membership at Suncoast Credit Union, you or a family member must live, work, worship, or go to school in select Florida counties
- Free overdraft protection that lets you link your checking account to a savings account
- Interest compounded daily and deposited monthly
- Federally insured by the NCUA
The Suncoast Credit Union Smartly Checking Account might be a good choice if you're worried about typical bank fees. The checking account charges zero monthly service fees, and it has free overdraft protection that lets you link your checking account to a savings account.
Suncoast Credit Union Share Certificate
3.50% to 4.50%
$500
- High interest rates
- $500 minimum opening deposit
- Standard term lengths
- Standard early withdrawal penalties
- Some online banks may offer even higher interest rates
- 75 branches in Florida
- Access to over 55,000 free ATMs through the CO-OP ATM network
- To be eligible for membership at Suncoast Credit Union, you or a family member must live, work, workshop, or go to school in select Florida counties
- Terms range from 6 months to 5 years
- Early withdrawal penalties: For terms 1 year and under, the penalty is 90 days of interest. For terms longer than 1 year, the penalty is 180 days of interest
- Interest compounded daily and deposited monthly
- Federally insured by the NCUA
Suncoast Credit Union Share Certificates have a low minimum opening deposit of $500. The share certificates also pay higher interest rates than the average CD.
Suncoast Credit Union Money Market Account
no monthly service fee
1.15% to 3.00%
$1,000
1.25%
- Solid interest rate
- No monthly service fees
- Paper checks included
- Online banks may offer a higher interest rate
- $1,000 minimum opening deposit
- No debit card included
- 75 branches in Florida
- Access to over 55,000 free ATMs through the CO-OP ATM network
- To be eligible for membership at Suncoast Credit Union, you or a family member must live, work, worship, or go to school in select Florida counties
- Earn 1.15% APY on account balances under $1,000
- Earn 1.30% APY on account balances between $1,000 and $24,999.99
- earn 1.40 % APY on account balances between $25,000 and $49,999.99
- Earn 1.50% APY on account balances between $50,000 and $99,999.99
- Earn 2.00% APY on account balances between $100,000 and $249,999.99
- Earn 2.50% APY on account balances between $250,000 and $499,999.99
- Earn 3.00% APY on account balances over $500,000
- Interest compounded daily and deposited monthly
- Federally insured by the NCUA
You might like the Suncoast Credit Union Money Market Account if you have at least $1,000 for a minimum opening deposit. It offers a much higher interest rate than the institution's share account, regardless of your account balance. You'll also have easier access to your money because this account includes paper checks.
Compare today's checking accounts
How Suncoast Credit Union Compares
Suncoast Credit Union vs. VyStar Credit Union
Choosing between these two credit unions might depend on whether you meet the requirements for membership at either institution.
To become a member at Suncoast Credit Union, you or a family member must live, work, go to school, or worship in one of over 35 eligible Florida counties.
At VyStar Credit Union, membership is open to anyone who lives or works in an eligible Florida or Georgia county on this list. Active military or a veterans living anywhere in the world are also eligible for membership.
If you're searching for a checking account, each financial institution has a worthwhile option.
The VyStar Credit Union Free Checking Account provides early direct deposit, so your paycheck can get processed up to two days early. Meanwhile, the Suncoast Credit Union Smartly Checking Account provides access to over 55,000 free ATMs because the credit union is part of the CO-OP ATM network.
Suncoast Credit Union vs. Ocean Bank
Deciding between these two local financial institutions may ultimately depend on where you live.
To become a member at Suncoast Credit Union, you or a family member must live, work, go to school, or worship in one of over 35 eligible Florida counties.
Ocean Bank is a Hispanic American-owned bank with 23 branches in South Florida. It has branches in Miami-Dade County (Miami, Miami Beach, Aventura, Coral Gables, Doral, Hialeah, and Pinecrest) and Broward County (Fort Lauderdale, Hollywood, and Weston).
Your choice between the two institutions may also hinge on which accounts you'd like to open.
Suncoast Coast Credit Union doesn't charge monthly service fees on savings accounts, checking accounts, and money market accounts. Meanwhile, Ocean Bank has a free checking account, but its savings accounts and money market accounts may involve monthly service fees if you don't maintain a specific account balance.
Why You Should Trust Us: How We Reviewed Suncoast Credit Union
For our Suncoast Credit Union review, we rated bank products and services using our editorial standards.
We rate products on a scale from one to five stars, and use a bank account methodology
For example, using our CD methodology we'll review interest rates, minimum opening deposit requirements, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, security, and ethics of the overall company. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, overdraft protection options, customer support hours, mobile app ratings, ethics, security, miscellaneous features minimum opening deposit requirements, and fees.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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