Formerly Patrick Air Force Base Credit Union
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Type Credit Union
Industry Financial services
Founded 1951
Headquarters Melbourne, Florida , USA
Is a credit union a real bank?
What is a credit union? Credit unions are financial institutions, just like banks, except that their members own them. They are nonprofit organizations with a mandate to serve their members. That means their primary goal is to provide better products and services to their members, not seek a profit.Mar 9, 2020
Is Space Coast a bank?
Space Coast Credit Union (also known as SCCU) is a state-chartered credit union headquartered in Melbourne, Florida. It is insured and regulated by the National Credit Union Administration (NCUA). As of 2015, SCCU had over 300,000 members and $4 billion in assets, making it the third largest credit union in Florida.
What do credit unions usually offer?
Both credit unions and banks offer chequing and savings accounts, mortgages, loans and credit products, and investment and retirement products.Mar 9, 2020
What are the benefits of joining a credit union?
- Personalized customer service.
- Higher interest rates on savings.
- Lower fees.
- Lower loan rates.
- Community focus.
- Voting rights.
- Variety of service offerings.
- Insured deposits.
Is Space Coast Credit Union FDIC insured?
Yes. Just as deposits made to traditional bank savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC), the deposits in your SCCU Share Savings account are insured to $250,000 by the National Credit Union Administration (NCUA).
What is a deposit hold SCCU?
Mobile deposits in excess of $200 are held until verification of the deposit on the next business day. Subsequent to mobile deposit verification, additional mobile deposit check holds may apply. SCCU assumes no liability for checks accepted for deposit.