Credit Unions Weather Financial Rainstorms

Credit Unions like Tropical Financial Credit Union (TFCU) have you covered.

No matter what the financial rainstorm brings, credit unions will always have your back because they are non-profit and member owned. That's the credit union difference.

If you're sick of banks selling you out and not putting your best interests first, it's time to join a credit union!

The Advantage of Credit Unions

Would a credit union be a better alternative for you? The Early Show's financial contributor Vera Gibbons compares banks and credit unions.

The Difference Between Credit Unions & Banks

Do you know what the difference between a credit union and a bank is? The differences might surprise you!

What is a Credit Union?

A credit union is a financial institution that works differently from a bank.

Individuals join as members of a credit union because of a region they live in or company they work for. Credit unions typically offer the same services as banks, including deposits, loans and mortgages at lower rates.

The reason credit unions can offer lower rates than banks is because they are not for profit organizations. This means that credit unions do not have to pay taxes and can offer fewer fees and lower rates to members.

Being a member of a credit union also has the advantage of owning a portion of the company, and receiving a portion of the profits. Members are also able to vote on important matters in the credit union, including the Board of Directors.

Is A TFCU Career Right For You?

Do you love your credit union? If so, here's your chance to begin your career with TFCU. Tropical Financial Credit Union is a non-profit financial institution and our employees have been serving members of South Florida for over 70 years. Interested in becoming one of them? TFCU is looking for talented prospective employees to fill entry level and higher positions. If you think you have what it takes, watch our employment video to learn more.

TFCU Holds 3-Star Bauer Financial Rating

Coral Gables based Bauer Financial found that most large Florida credit unions were in good shape after analyzing the first quarter of 2009. Bauer Financial uses federal regulatory data, including capital ratio, profit/loss trend and delinquent loans in order to rate credit unions.

Tropical Financial Credit Union held on to its 3-star Bauer Financial rating in the first quarter. With assets of $738 million, TFCU is South Florida's second-largest credit union.

Florida Congressman Discusses the Role of Credit Unions in the Economy

Florida Congressman Alan Grayson is featured in the following video. 

In the video, Alan Grayson discusses Credit Unions and their positive role in the current economy. Although these are difficult times, credit unions are doing more than their fair share to restore the American economy to normalcy. While other businesses are looking to make a quick buck, credit unions are attacking the root of the problem and helping communities to rebuild from the bottom-up. 

A Message from Dan Mica, President and CEO of CUNA

Think Small and Local

Small financial insitutions and credit unions have been noticing deposit increases over the last three months. Americans are weary of big banks and many of their customers are turning to smaller, local financial institutions. 

While the other banks were failing, credit unions noticed an increase in small business customers and requests for housing loans. Credit unions are seeing growths of nearly 50% from last year. The smaller the financial institution, the more appealing it is to customers. Large banks can't compete with the deposit and loan rates that credit unions have to offer. 

Meet Your Blogger

I have been blogging for a few weeks now, and I figured it was time to introduce myself!

My name is Mikhaila Clements, I am 20 years old and am currently attending Florida Atlantic University.

I am also a third generation TFCU member. My grandfather first started using Tropical Financial when he was working for Bell South nearly 40 years ago and my family has been with TFCU ever since.

TFCU has been right there with me for all of my money milestones. Looking back I can remember...

Getting my first ATM card
Getting my first visa debit card and then my second, third...and fourth replacements
Buying my car
Attending a free personal financial advising session before moving away for college
Establishing a personal line of credit to build my credit score
An endless amount of visits to TropicalFCU.org while I was living in Orlando, away from a TFCU branch - it's no wonder I moved back!

Despite all the memories at TFCU, the best thing is still the fact that when I walk in to my local Albertson's branch to deposit my check everyone knows my name and genuinely cares about how I am. With the hustle and bustle I encounter daily as a South Florida college student, it's nice to feel at home at my credit union.

Save Money with Credit Unions

Check Out BankerSpank's Apple Commercial spoofs.

There are four videos so far all which deal with the differences between credit unions and banks.

See where your money goes with a bank:

Welcome to Tropical FCU's Blog!

We're excited to launch our new blog! We invite you to come back often for useful news, articles, advice, features and other tidbits related to banking, finance, the South Florida economy and much more.

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Since 1935, Tropical Financial Credit Union has provided members and their families with a wide range of financial services at very competitive rates and terms. TFCU is a not-for-profit, member-owned and member-operated financial cooperative that helps members better manage their time and money. For more information, visit http://www.tropicalfcu.org/