TAMPA, Fla. (June 10, 2019) — Suncoast Credit Union topped $10 billion in assets on May 31, 2019, making it the tenth largest credit union in the United States and maintaining its position as the largest financial institution headquartered in Tampa and the largest credit union in Florida.
Suncoast leaders credit the achievement of this milestone event to its employees, who carry out the mission every day to put members first.
“In 2018, we brought forward the message that ‘your fantastic future starts here’ because we are committed to helping improve the financial lives of our members by understanding and helping them reach their goals,” said Suncoast President and CEO Kevin Johnson. “We believe this message helped inspire our healthy growth.”
Suncoast, which has more than 839,000 members, was started in 1934 to service teachers. Today, it offers financial services to those who live, work, and worship in 21 Florida counties. In 2018, Suncoast grew by more than 63,000 new members.
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.
ABOUT SUNCOAST CREDIT UNION
Suncoast Credit Union is the largest credit union in the state of Florida, the eighth largest in the United States based on membership, and the 10th largest in the United States based on its more than $10 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 68 full-service branches and serves more than 839,000 members in the following Florida counties: Charlotte, Citrus, Collier, DeSoto, Dixie, Gilchrist, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Lee, Levy, Manatee, Marion, Pasco, Pinellas, Polk, Sarasota and Sumter. Additionally, Suncoast has secured regulator permission for future expansion into 18 additional counties throughout the state of Florida. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $25 million to organizations and initiatives that support the health, education and emotional well-being of children in the communities that the credit union serves. For more information, visit: suncoastcreditunion.com or follow us on social media at: Facebook.com/SuncoastCreditUnion, https://www.linkedin.com/company/suncoastcreditunion, https://twitter.com/SuncoastCU or https://www.instagram.com/suncoastcreditunion.