Space Coast Credit Union has been serving members since 1951. Over the years, the financial services we offer have expanded as the needs of our members have changed. SCCU now serves over 136,000 members with assets of over $1.3 billion through a network of branches and ATMs reaching from Vero Beach to Palm Coast with the financial products and services they need to make purchases, finance homes and businesses, save money, and plan for the future.
Space Coast Credit Union takes the cooperative concept even further with our exclusive Member RewardsÔ program, and our Smart Shopper Credit Card Rebate Program. Simply put, the more you do with SCCU, the more you get in the form of lower loan rates, bonus deposit rates, and free services.
The existence of credit unions offers a market-based pricing control that benefits all consumers of financial services. Without this member-owned institution, there would be no financial institution whose sole interest was to price services to benefit you, the customer.
Space Coast Credit Union made the move pay off by earning $7.8 million in 2010, up from earnings of $5.1 million in 2009. That boosted its net worth-to-asset ratio to 7.03 percent – barely above the requirement to be “well capitalized.”
The credit union reported that 5.67 percent of its loans were delinquent as of Dec. 31, which is close to the same ratio it has reported throughout the year. Space Coast Credit Union ended the year with $3 billion in assets and 366,048 members, down from $3.2 billion in assets and 379,478 members at the end of 2009.
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