Suncoast CU Surpasses One Million Members

Suncoast Credit Union announced Tuesday that it reached one million members in December.

The Tampa, Fla.-based credit union became the 10th credit union to reach the one million-member mark, including two other fast-growing credit unions that reached it in the past year.

Suncoast welcomed its one millionth member, Ferzeda Richardson, at its Big Bend Service Center in Riverview on Dec. 29. She received a personal welcome from President/CEO Kevin Johnson, who congratulated her on her unique status and presented her with a $1,000 check.

“This is an exciting milestone in Suncoast’s 88 year history, made possible by the 2,100 team members who are dedicated to serving our members every day,” Johnson said. “Suncoast isn’t set apart because of the size of its membership alone. We stand out because of the service and culture that got us there.”

To celebrate all members, Suncoast is launching its One Million Reasons to Celebrate campaign. The quarter-long event will include Thanks-a-Million Thursdays, a pop-up event that will occur every Thursday at all branches. The weekly in-branch celebrations will run from Jan. 20 to March 31 and include refreshments, giveaways and raffles. The celebration will also include other offers like refer-a-friend rewards for new and existing members.

Suncoast was founded in 1934 by nine local educators who believed that teachers deserved financial products and services that fit their needs as public servants. Today, Suncoast is the largest credit union in Florida, has 75 branch locations, and is one of the largest not-for-profit employers in the Tampa Bay area, with more than 2,100 team members.

Suncoast has been in and out of the Top 10 credit unions based on asset size in recent years. In September it ranked No. 11 with $14.3 billion in assets, up 18.9% from a year earlier.

It has been trading places with Randolph-Brooks Federal Credit Union of San Antonio, which ranked 10th with $14.6 billion in assets Sept. 30, up 16.4% from a year earlier. RBFCU surpassed one million members that quarter, becoming the ninth to reach that mark.

The eighth was Mountain America Federal Credit Union of Salt Lake City, which surpassed one million members by June. As of Sept. 30, it ranked No. 8, with $13.8 billion in assets.

The closest behind Suncoast in membership is Digital Federal Credit Union of Marlborough, Mass. It had 968,903 members as of Sept. 30, up 7.1% from a year earlier. Its assets fell 6.7% over 12 months to $9.8 billion as of Sept. 30, ranking it No. 20.