About SCCU

On December 12, 1953, seven school teachers with extraordinary foresight signed a Certificate of Organization to form the credit union. The original amount of $130 used to organize the credit union was deposited by those seven individuals. Our name at the time was The Sarasota County Teacher’s Credit Union.

In the years that have followed, Sarasota Coastal Credit Union adopted its current name in response to mergers with other credit unions, the inclusion of Sarasota County employees, and other select employer groups.

The defined field of membership has been expanded in response to the mergers and inclusion of employer groups. Today, Sarasota Coastal Credit Union’s field of membership is open to persons living or working in Manatee, Sarasota and Charlotte Counties.

Sarasota Coastal Credit Union has consistently been awarded the 4-Star Excellent Rating from Bauer Financial Reports, Inc., the nation’s leading primary financial institution research firm. Paul Bauer, president of the firm says, “Sarasota Coastal Credit Union exemplifies the best in credit unions…strength, safety, longevity and commitment to its members…with a track record to prove it.”

Sarasota Coastal Credit Union estimates that it provided $2,166,578 in direct financial benefits to its 24,259 member/owners during the twelve months ending in June 2005. These benefits are equivalent to $89 per member/owner or about $170 per member household. We provided these benefits by charging members less for loans and by paying members more for deposits compared to banking institutions in Florida.

We promote the economic well-being of our members, including those of modest means, through a system that is cooperative, member-owned, volunteer directed, not-for-profit, and therefore tax-exempt. We provide a secure financial choice for all consumers, and the financial products and services that all of our members want and need.

We continue to invest in people by reaching out to help those who have traditionally been underserved…like seniors living on fixed incomes, single working mothers (about 60% of our members are female), and small business owners struggling to raise capital in the marketplace to build their dreams.

We welcome you to the family.

History of Credit Unions/What is a Credit Union?