Space Coast Credit Union
 | |
| Formerly | Patrick Air Force Base Credit Union |
|---|---|
| Company type | Credit Union |
| Industry | Financial services |
| Founded | 1951 |
| Headquarters | , |
Number of locations | 65 Branches |
Area served | Alachua, Brevard, Broward, Charlotte, Citrus, Clay, Clay, Collier, Duval, Flagler, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Volusia Counties in Florida |
Key people | Tim Antonition, CEO/President |
| Products | Savings; Checking; Consumer loans; Mortgages; Credit cards; Investments; Online banking |
| Total assets | US$7.7 billion (2022) |
Number of employees | 847[1] (2015) |
| Website | SCCU.com |
Space Coast Credit Union (SCCU) is an American state-chartered credit union headquartered in Melbourne, Florida. It is insured and regulated by the National Credit Union Administration (NCUA).[2] As of 2022, SCCU had over 560,000 members and $7.7 billion in assets, making it the third largest credit union in Florida.[1]
History
[edit]SCCU was formed in 1951 as the Patrick Air Force Base Credit Union, serving Patrick Space Force Base (at the time known as Patrick Air Force Base).[3] The credit union started with $372 and 7 members.
The company changed its name to Space Coast Credit Union in 1980.[4]
In 2009, SCCU merged with Eastern Financial Florida Credit Union, growing SCCU's assets to $3.2 billion and 380,000 members.[5] Prior to the merger, bad loans and investments made during the 2007–2008 financial crisis put Eastern Financial into distress.[6] 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.[7]
Alive Credit Union acquired two of SCCU's branches in Jacksonville in 2012.[8]
Membership
[edit]Membership at SCCU is open to anyone who works or lives in one of 34 Florida counties: Alachua, Brevard, Broward, Charlotte, Citrus, Clay, Clay, Collier, Duval, Flagler, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, or Volusia.[9]
References
[edit]- ^ a b Price, Wayne T. (June 24, 2015). "Space Coast CU Begins $30 Million Expansion". Florida Today. Retrieved June 25, 2015.
- ^ "2012 Directory of Federally Insured Credit Unions" (PDF). National Credit Union Administration. Retrieved June 25, 2015.
- ^ Oates, Sarah (September 24, 1989). "Brevard Credit Union Takes Off Like Rocket". Orlando Sentinel. Retrieved June 17, 2014.
- ^ "Space Coast Credit Union: Private Company Information". Bloomberg Businessweek. Archived from the original on June 18, 2014. Retrieved August 22, 2014.
- ^ Samaad, Michelle A. (July 1, 2009). "Space Coast, Eastern Financial Merger Gets Green Light". Credit Union Times. Retrieved June 17, 2014.
- ^ Harrington, Jeff (April 24, 2009). "Regulators seize Eastern Financial Florida Credit Union". Tampa Bay Times. Archived from the original on August 11, 2014. Retrieved August 6, 2014.
- ^ 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.
- ^ Roberts, Ed (August 2, 2012). "NCUA Clears Space Coast CU Spin-Off of Jacksonville Branches". American Banker. Retrieved August 22, 2014.
- ^ About Space Coast Credit Union (SCCU) Retrieved on 2022-07-08.
