Suncoast Credit Union

Organization Overview

Suncoast Credit Union is located in Tampa, FL. The organization was established in 2016. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Suncoast Credit Union employed 2,590 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Suncoast Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Suncoast Credit Union generated $553.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $384.9m during the year ending 12/2021. While expenses have increased by 7.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Suncoast Credit Union has awarded 84 individual grants totaling $5,388,588. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE THE QUALITY OF OUR MEMBERS' LIVES THROUGH STRENGTH, SECURITY, AND INNOVATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION OFFERS OUR MEMBERS A SOURCE OF CREDIT THROUGH VARIOUS TYPES OF LOANS, INCLUDING MORTGAGE, AUTO, AND PERSONAL. INTEREST RATES FOR OUR LOANS ARE COMPETITIVE IN OUR LOCAL MARKETS.


THE CREDIT UNION OFFERS COMPETITIVE SAVINGS PRODUCTS TO OUR MEMBERS WITH INTEREST RATES THAT ARE MORE FAVORABLE THAN OUR LOCAL COMPETITION ON OUR INTEREST BEARING ACCOUNTS AND CERTIFICATES OF DEPOSIT.


SERVICE FEES CHARGED BY THE CREDIT UNION FOR OUR PRODUCTS ARE GENERALLY LOWER THAN OUR LOCAL COMPETITION OR HAVE BEEN ELIMINATED.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Dentco
Lawn Maintenance
$984,284
Tcs Corp
Janitorial Services
$1,909,448
Steemology Llc Bradley Neal
Building Maintenance
$611,336
Kass Shuler Pa
Legal Service Attorney
$763,772
Wetherington Hamilton & Harrison Pa
Collections Attorney
$246,150
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,022,101
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,022,101
Total Program Service Revenue$526,329,286
Investment income $19,423,707
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $87,440
Net Gain/Loss on Asset Sales $1,327,615
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $553,636,360

Grants Awarded

Over the last fiscal year, Suncoast Credit Union has awarded $570,410 in support to 6 organizations.

Grant RecipientAmount

SUNCOAST CU FOUNDATION

Org PageRecipient Profile

Tampa, FL

PURPOSE: FUNDING EDUCATION & MEDICAL NEEDS OF CHILDREN IN FLORIDA

$250,746

NATIONAL CREDIT UNION FOUNDATION

Org PageRecipient Profile

Madison, WI

PURPOSE: TO FUND PROGRAMS THAT HELP IMPROVE CONSUMER'S FINANCIAL LIVES & SUNCOAST GAC ATTENDEES ATTENDED DINNER TO SUPPORT HERB WAGNER AWARD WINNERS

$142,873

LEAGUE OF SOUTHEASTERN CU

Org PageRecipient Profile

Tallahassee, FL

PURPOSE: TO PROVIDE ASSISTANCE TO SMALLER CREDIT UNIONS

$66,791

TAMPA BAY AREA CREDIT UNION FOR KIDS INC

Org PageRecipient Profile

Tampa, FL

PURPOSE: TO RAISE FUNDS FOR THE AUTISM CENTER AT ALL CHILDREN'S HOSPITAL

$50,000

TAMPA BAY ECONOMIC PROSPERITY FOUNDATION

Org PageRecipient Profile

Tampa, FL

PURPOSE: TO ASSIST ECONOMICALLY DISTRESSED COMMUNITIES IN HILLSBOROUGH COUNTY

$50,000

WORLD WIDE FOUNDATION FOR CU

Org PageRecipient Profile

Madison, WI

PURPOSE: TO CREATE LONG LASTING OPPORTUNITIES FOR THE WORLD'S WORKING POOR

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Suncoast Credit Union has recieved totaling $46,625.

Awarding OrganizationAmount
Southeastern Credit Union Foundation Inc

Tallahassee, FL

PURPOSE: COMMUNITY SUPPORT

$46,625
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
State Chartered Credit Unions In Florida
Jacksonville, FL
$554,973,970
Suncoast Credit Union
Tampa, FL
$553,636,360
Delta Community Credit Union
Atlanta, GA
$296,340,741
State Chartered Credit Unions In Florida
Melbourne, FL
$248,524,436
Midflorida Credit Union
Lakeland, FL
$278,382,544
Georgia's Own Credit Union
Atlanta, GA
$147,500,350
Fairwinds Credit Union
Orlando, FL
$164,616,807
Robins Financial Credit Union
Warner Robins, GA
$147,788,018
State Chartered Credit Unions In Florida
Jonesville, FL
$122,435,815
Florida Credit Union
Gainesville, FL
$94,300,981
Atlanta Postal Credit Union
Atlanta, GA
$86,141,254
Georgia United Credit Union
Duluth, GA
$80,835,681

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