Space Coast Credit Union (SCCU) is an American state-chartered

credit union A credit union is a member-owned nonprofit organization, nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (che ...

headquartered in

Melbourne, Florida Melbourne ( ) is a city in Brevard County, Florida, United States. It is located southeast of Orlando, Florida, Orlando along Florida's Space Coast, named because of the region's proximity to Cape Canaveral and the Kennedy Space Center. The city ...

. It is insured and regulated by the

National Credit Union Administration The National Credit Union Administration (NCUA) is an American government-backed insurer of Credit unions in the United States, credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. deposi ...

(NCUA). As of 2022, SCCU had over 560,000 members and $7.7 billion in assets, making it the third largest credit union in Florida.

History

SCCU was formed in 1951 as the Patrick Air Force Base Credit Union, serving

Patrick Space Force Base Patrick Space Force Base is a United States Space Force installation located between Satellite Beach and Cocoa Beach, in Brevard County, Florida, United States. It is named in honor of Major General Mason Patrick, United States Army Air Corps, ...

(at the time known as Patrick Air Force Base). The credit union started with $372 and 7 members. The company changed its name to Space Coast Credit Union in 1980. In 2009, SCCU merged with Eastern Financial Florida Credit Union, growing SCCU's assets to $3.2 billion and 380,000 members. Prior to the merger, bad loans and investments made during the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

put Eastern Financial into distress. NCUA took control of Eastern Financial and turned operations over to SCCU. In 2011, SCCU spun off its

Tampa Bay area The Tampa Bay area is a major metropolitan area surrounding Tampa Bay on the Gulf Coast of Florida in the United States. It includes the main cities of Tampa, Florida, Tampa, St. Petersburg, Florida, St. Petersburg, and Clearwater, Florida, Clea ...

operations to MidFlorida Credit Union, gaining MidFlorida 16,000 members, 6 branch locations, and $115 million in assets. Alive Credit Union acquired two of SCCU's branches in

Jacksonville Jacksonville ( ) is the most populous city proper in the U.S. state of Florida, located on the Atlantic coast of North Florida, northeastern Florida. It is the county seat of Duval County, Florida, Duval County, with which the City of Jacksonv ...

in 2012.

Membership

Membership at SCCU is open to anyone who works or lives in one of 34 Florida counties: Alachua, Brevard, Broward, Charlotte,

Citrus ''Citrus'' is a genus of flowering trees and shrubs in the family Rutaceae. Plants in the genus produce citrus fruits, including important crops such as oranges, mandarins, lemons, grapefruits, pomelos, and limes. ''Citrus'' is nativ ...

Clay Clay is a type of fine-grained natural soil material containing clay minerals (hydrous aluminium phyllosilicates, e.g. kaolinite, ). Most pure clay minerals are white or light-coloured, but natural clays show a variety of colours from impuriti ...

, Collier, Duval, Flagler, Hernando, Hillsborough, Indian River,

Lake A lake is often a naturally occurring, relatively large and fixed body of water on or near the Earth's surface. It is localized in a basin or interconnected basins surrounded by dry land. Lakes lie completely on land and are separate from ...

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Manatee Manatees (, family (biology), family Trichechidae, genus ''Trichechus'') are large, fully aquatic, mostly herbivory, herbivorous marine mammals sometimes known as sea cows. There are three accepted living species of Trichechidae, representing t ...

Marion Marion or MARION may refer to: Arts and entertainment *Marion (band), a British alternative rock group * ''Marion'' (miniseries), a 1974 miniseries * ''Marion'' (1920 film), an Italian silent film * ''Marion'' (2024 film), a UK short People a ...

Martin Martin may refer to: Places Antarctica * Martin Peninsula, Marie Byrd Land * Port Martin, Adelie Land * Point Martin, South Orkney Islands Europe * Martin, Croatia, a village * Martin, Slovakia, a city * Martín del Río, Aragón, Spain * M ...

Miami-Dade Miami-Dade County () is a county located in the southeastern part of the U.S. state of Florida. The county had a population of 2,701,767 as of the 2020 census, making it the most populous county in Florida and the seventh-most-populous count ...

Monroe Monroe or Monroes may refer to: People and fictional characters * Monroe (surname) * Monroe (given name) * James Monroe, 5th President of the United States * Marilyn Monroe, actress and model Places United States * Monroe, Arkansas, an unincorp ...

, Nassau, Okeechobee

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Osceola Osceola (1804 – January 30, 1838, Vsse Yvholv in Muscogee language, Creek, also spelled Asi-yahola), named Billy Powell at birth, was an influential leader of the Seminole people in Florida. His mother was Muscogee, and his great-grandfa ...

, Palm Beach, Pasco, Pinellas,

Polk DNA polymerase kappa is a DNA polymerase that in humans is encoded by the ''POLK'' gene. It is involved in translesion synthesis DNA repair is a collection of processes by which a cell (biology), cell identifies and corrects damage to the ...

, Putnam,

Sarasota Sarasota () is a city in and the county seat of Sarasota County, Florida, United States. It is located in Southwest Florida, the southern end of the Tampa Bay area, and north of Fort Myers and Punta Gorda. Its official limits include Sarasota Ba ...

Seminole The Seminole are a Native American people who developed in Florida in the 18th century. Today, they live in Oklahoma and Florida, and comprise three federally recognized tribes: the Seminole Nation of Oklahoma, the Seminole Tribe of Florida, ...

, St. Johns, St. Lucie,

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, or Volusia.About Space Coast Credit Union (SCCU)
Retrieved on 2022-07-08.

References

External links

* {{Official website Credit unions based in Florida Banks established in 1951 1951 establishments in Florida Companies based in Brevard County, Florida Melbourne, Florida