This post summarizes our view of the best credit unions in Florida. There are currently 125 federally insured credit unions in the state of Florida. These credit unions collectively have 6.7 million members and $103 billion in assets. Our methodology is similar to the approach we took in determining the best credit unions in America with some minor adjustments.

5 Best Credit Unions in Florida

The 5 best credit unions in Florida in 2022 based on our research are:

Of the 5 credit unions, Campus USA Credit Union also made our list of the top 100 best credit unions in the United States. In the following sections we provide an in-depth overview of why each credit union was selected, including a discussion of the pros and cons for each. If you are a Florida resident or just someone seeking credit unions in the state, you can’t go wrong becoming a member of one of these 5 credit unions.

 

Overview of the 5 Best Credit Unions in Florida

Campus USA Credit Union (Best Credit Union in Florida)

We believe that Campus USA Credit Union is the best credit union in Florida and one of the best credit unions in the country. Not only is the credit union one of the oldest in the state, having been established in 1935, it is also one of the largest and most efficiently run. The credit union offers a full suite of traditional banking services including but not limited to:

  • Checking and Savings Accounts
  • Credit Cards (CAMPUS Platinum MasterCard and CAMPUS Platinum Rewards MasterCard)
  • Auto Loans
  • Mortgage and Home Equity Loans
  • Personal Loans including the CAMPUS Simplicity Loan

Consumers have clearly taken notice of the credit union given the fact that its membership base has increased every year for the last 4 years with an average increase of 6%.

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So far in 2022, the credit union’s membership base has further expanded by almost 3,000 people! While the credit union primarily serves consumers that live within select counties in Florida, it is a credit union that anyone can join by becoming a member of the Matheson History Museum.

Pros of Campus USA Credit Union

  • Breadth of Services – the credit union offers several account options and loan products for both consumers and businesses. This includes a free checking account with automatic overdraft protection and a savings account with no fees or minimum balance requirements.
  • Stability – the credit union is one of the oldest in the state, has a net worth ratio of 11.9% and a net worth per member of $2,413, significantly above the national average.
  • Technology – the credit union has a mobile application that is very well reviewed on both the iOS App Store and the Google Play store, with an average of 4.5-4.6 stars. In addition, the credit union is one of a growing number of credit unions that use Zelle, therefore its members can enjoy highly convenient and free money transfers.

Cons of Campus USA Credit Union

  • Average Interest Rates On Savings Accounts – currently the savings account at the credit union offers an annual percentage yield (APY) of 0.05% up to $50,000. While the APY increases to 0.10% for balances between $50,000 and $75,000 and 0.15% for balances above $75,000, the rates are approximately consistent with the national average.
  • Branch Availability Limited To Select Counties – the credit union’s branches in Florida are only located in the following counties: Alachua, Columbia, Leon, Marion and Sumter.

You can learn more about Campus USA Credit Union by visiting the credit union’s website.

Pen Air Credit Union

Similar to Campus USA Credit Union, Pen Air Credit Union has a limited field of membership that consists of a select employer group or individuals that are in active duty or that are retired military personnel or civil servants. However, anyone can join the credit union by joining the Navy Marine Corps Relief Society. Aside from its accessibility, this is one of the best credit unions in Florida primarily because of its product offerings.

Pen Air Credit Union offers its members a checking account with no monthly service fees and no minimum balance requirements. Despite these benefits, the account comes with a free MasterCard debit card, access to thousands of surcharge-free ATMs and a very highly rated mobile application. The credit union also offers savings accounts with interest rates that start with annual percentage yields of 0.10% and increase to 0.299% for balances above $25,000. pen-air-credit-union-membership-trends

The credit union has also had consistent increases in its membership over the past several years, and so far in 2022, its membership base has further expanded by almost 1,000.

Pros of Pen Air Credit Union

  • Breadth of Services – the credit union offers all of the traditional banking services including checking and several savings accounts and products. Pen Air Credit Union offers 4 different credit card options to members, including a Secured MasterCard for members that are looking for an effective way to build or rebuild their credit. In addition, the credit union is currently offering 28 month certificate of deposits with APYs of 2.75%.
  • Low Fees – there are no monthly maintenance fees for the credit union’s checking and savings accounts, and also no ATM fees assessed for using out of network ATMs.
  • Stability – the credit union is one of the oldest in the state, has a net worth ratio of 10.9% and a net worth per member of $2,129, which is well above the national average.
  • Technology – the credit union’s mobile application is very positively reviewed on both the iOS App Store and the Google Play store, with an average of 4.7-4.8 stars. Having strong mobile applications is increasingly important as more banking activities move online.

Cons of Pen Air Credit Union

  • Branch Availability Limited To Select Counties – the credit union has only 11 branches in Florida, but is part of the CO-OP Shared Branch Network.
  • Zelle Availability – Pen Air Credit Union is currently not a Zelle partner.

You can learn more about Pen Air Credit Union by visiting the credit union’s website.

Community Credit Union (Florida)

The credit union’s stated field of membership is limited to those that work, worship, attend school or conduct business in 6 counties in Florida: Brevard, Indian River, Orange, Osceola, Polk or Volusia. However, anyone can become a member of Community Credit Union by joining the American Bikers Aiming Toward Education (ABATE) association, Florida chapter – doing so costs $20 each year or $600 for a lifetime membership.

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The credit union has also had consistent increases in its membership over the past several years, and so far in 2022, its membership base has continued to grow.

Pros of Community Credit Union

  • Interest-Bearing Checking Account – Community Credit Union offers a free checking account that has no monthly fees but comes with excellent features including paying a 2.50% APY on balances up to $5,000! This means that members can earn more than $120 a year from their checking accounts. For balances above $5,000 account holders earn 0.10% interest, which is consistent with the national average. While not quite at the level of 5% interest savings accounts, the credit union’s checking account offering is a distinguishing factor.
  • Stability – the credit union has been operating for more than 65 years. It has a net worth ratio of 11.9% and a net worth per member of $2,449 which is well above the national average.
  • Technology – the credit union’s has a mobile application is very positively reviewed on both the iOS App Store and the Google Play store, with an average of 4.8 stars.

Cons of Community Credit Union

  • Branch Availability is Limited – the credit union has only 7 locations in the state.
  • Zelle Availability – Community Credit Union is currently not a Zelle partner.

You can learn more about Community Credit Union by visiting the credit union’s website.

Panhandle Credit Union

Unlike the credit unions discussed so far, Panhandle Credit Union has a field of membership that is limited and there are no workarounds. To be eligible to join the credit union you have to work, worship or attend school in one of the following 7 counties in Florida: Greater Bay, Calhoun, Gulf, Holmes, Jackson, Walton or Washington.
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While the credit union is much smaller than the others discussed so far, it has also steadily grown its base of membership over the years.

Pros of Panhandle Credit Union

  • Checking Account Offers Unique Features – while the credit union offers a basic checking account which is free, its My Choice! checking account is notable. This account comes with several features that more than make up for the account fees. Maintaining a My Choice! checking account at Panhandle Credit Union costs either $7 per month or $9 a month if you fail to maintain a balance of $250. Account holders enjoy the following benefits in return:
    • Rebate Rewards – turn in $100 of receipts a quarter and receive 10% back
    • Two free boxes of checks each year
    • Earn Cashback Rewards when you use your debit card
    • Accidental Death Insurance up to $10,000
    • 25% discount on the first year cost of a Safe Deposit Box ($5-20 value)
  • Stability – the credit union has a net worth ratio of 11.8% and a net worth per member of $2,434 which is well above the national average.
  • Technology – the credit union’s mobile application has been active for 4 years and has good reviews with a score in the iOS App Store of 4.8 and 4.3 in the Google Play store. In addition, the credit union is one of a growing number of credit unions that use Zelle, therefore its members can enjoy highly convenient and free money transfers.

Cons of Panhandle Credit Union

  • Membership is restricted to consumers that live in select counties in Florida.

You can learn more about Panhandle Credit Union by visiting the credit union’s website.

Educational Federal Credit Union

Educational Federal Credit Union has a field of membership that is limited and there are no workarounds. To be eligible to join the credit union you have to be an employee or former employee of the Miami-Dade County Public Schools, Miami Dade College, the United Teachers of Dade and or a number of other educational institutions. Membership is also open to students of the aforementioned school systems.

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The credit union is the only one on our list that hasn’t had steady growth in all of the recent years as membership declined slightly in 2020. That being said the trend line has been decidedly positive since 2017 and membership has continued to grow so far in 2022.

Pros of Educational Federal Credit Union

  • Free Checking Account – the credit union’s checking account offering has no monthly service fee and no minimum balance requirement. The account comes with a Visa Debit Card and account holders can participate in the credit union’s rewards program. The program allows members to earn 1 point for every $2 spent using their debit cards. Based on the program terms, if you spend $5,000 a month using your debit card you can earn reward points that are redeemable for $20 cashback.
  • Stability – the credit union has the highest net worth ratio out of our list of the best credit unions in Florida at 14.9% and a net worth per member of $2,726 which is significantly above the national average.

Cons of Educational Federal Credit Union

  • Membership eligibility is limited.
  • Technology – the credit union lags peers in terms of feedback on its mobile application, and also in terms of adoption of emerging services such as Zelle.

You can learn more about Educational Federal Credit Union by visiting the credit union’s website.