Obama Plans to Tackle the Economy

President-Elect, Barack Obama announced his plans for the economy yesterday. 

He plans to pass a massive two-year spending and tax-cutting recovery program and to create 2.5 million jobs for Americans through a stimulus.

This ambitious program will improve roads, bridges and schools, while incorporating the use of environmentally-friendly technology.

Couples "Stick It Out" In Tough Economic Times

Divorce filings are down 17% in Florida.

This may come as a shock due to the recent downturn in the economy. Wouldn't you think couples would be fighting more with the added stress stemming from a lower disposable income? While this may be the case, increased fighting is not resulting in divorce.

Statistics show that couples are staying together to ride out the economic storm. The only thing harder than living in an economic "recession" is living on a single income during a recession, especially if children are involved.

Some couples are even able to rekindle their relationship with the positive support a spouse can offer.

Credit Union Lending Rises as Bank Lending Freezes

More people are turning to credit unions for their lending needs as banks reject mortgages and loans.

Major banks are experiencing a general lending freeze, virtually eliminating the possibility for a mortgage or auto loan. Thankfully, your local credit union may be able to fulfill your lending needs - and for a lot less!

Because credit unions are smaller institutions with fewer members, they are able to evaluate loans on a case-by-case basis and decide if a member is eligible for a loan.

If your home was recently foreclosed or you have less than perfect credit, a loan from a credit union, like Tropical Financial, is a great option. TFCU will work with you to get the perfect mortgage or auto loan.

Loss of Confidence in Banks Spikes Credit Union Deposits

Today, more than ever, people want to know that their money is safe. 

The recent loss of confidence in commercial banking has resulted in an increase in Credit Union members. 

People all over America are closing their bank accounts and joining credit unions. 

A recent survey by the Credit Union National Association (CUNA) found that 1/4 of credit unions have experienced above-average growth in deposits over the last six weeks.

We're Still Lending!

We know times are tough right now. The economy is unstable, and we'll all concerned. That's why we wanted you to know that Tropical Financial Credit Union has been serving South Florida residents for over 70 years with personal high interest savings and checking accounts, support for small businesses and a variety of loans. If you need a new loan or to refinance an existing loan for your car, home, personal reasons or a small business - remember that Tropical Financial Credit Union is here for you. And don't forget, anyone who lives or works in South Florida can join. We are a not-for-profit organization, as are all credit unions. We serve our members with integrity and value - and pass all savings along to them in the form of great rates, higher interest and the truly caring customer service.

So, if you're in the market for a new loan or refinance, give us a call. We're still lending!