Space Coast Credit Union

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Space Coast Credit Union

Formerly	Patrick Air Force Base Credit Union
Company type	Credit Union
Industry	Financial services
Founded	1951; 73 years ago (1951)
Headquarters	Melbourne, Florida , USA
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

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

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

^ ^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.

External links

Official website

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