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HomeGeneralSuncoast Credit Union Review: No Monthly Fees

Suncoast Credit Union Review: No Monthly Fees

Suncoast Credit Union offers all the advantages of a national bank – banking products, mortgages, loans, credit cards, and more – but with a not-for-profit mindset.

It is the largest credit union in Florida, serving more than 774,000 members throughout Florida. The full-service institution offers its clients banking products and investment services such as checking and savings accounts.

They also provide loans and financial resources such as advice, online calculators, workshops, and webinars.

Suncoast Credit Union Overview

Suncoast Credit Union is a regional institution serving the greater Tampa area. In 2017, the credit union was named the Best Bank in Florida by Money.

It was founded in the 1930s in Hillsborough County by a group of teachers to serve the local educational force.

In 2013, Suncoast Credit Union became a state charter, opening membership to everyone who “lives, works, worships or attends schools” in 21 Southwest Florida counties.

Your options as a member include everyday banking products such as savings accounts, money market accounts, checking accounts, home loans, auto loans, and credit cards.

The credit union has 64 branches and partners with the Co-Op network and Publix Grocery Store ATMs to offer more than 3,000 accessible ATMs within the state and 30,000 nationwide.

Pros and Cons of Suncoast

Advantages

  • Community-oriented, full-service credit union (not for profit) offers more member benefits than most retail banks
  • Current accounts that earn interest
  • Membership includes access to discounts, scholarships, and charitable donations

Disadvantages

  • Savings account interest rates are not the most competitive compared to online banking competitors.
  • Only available to residents of 21 Florida counties

Suncoast Credit Cards

  • No annual fee
  • Rewards do not expire
  • Free balance transfers, cash advances, or convenience checks
  • No punitive interest rates for late or late payments
  • 25-day interest-free period for new purchases
  • No charge when different users also get a card
  • Free auto car rental insurance
  • 24/7 online and phone access for inquiries, cash advances, and payments
  • Monthly payments are 2 percent of the balance or $10, whichever is greater
  • Automatically updates cardholder details with participating merchants

Suncoast Loans

Credit Union Members can take advantage of Suncoast loans to help achieve their financial goals. Here is an overview of the loans available from Suncoast Credit Union.

Vehicle loans

In addition to financing a car through Suncoast, members can also refinance their vehicle for a lower APR, purchase vehicles through members-only auto sales, or increase their recreational activities through a boat loan, vehicle RVs, or motorcycles with no application fee or prepayment penalty.

Mortgages

Suncoast lets you know how your home buying process with its Loan Status Update. This sends electronic updates on where your loan is, what the next steps are, and what to expect next from your mortgage team.

Suncoast home improvement loans have a fixed interest rate and pay up to $500 in closing costs.

Personal loans

Customers can get personal loans up to $30,000, which require no application fee and no prepayment penalty. Suncoast also offers specific loans for computer purchases and personal lines of credit.

Suncoast Credit Union is a solid option for those who qualify for membership. You can choose from savings accounts, checking accounts, even car loans, credit cards, and mortgages. A regional credit union, it has all the offerings of a larger banking chain.

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