Unmyth'd: Shattering the Stigma

The Truth About Credit Unions

  • Financial Advice
  • September 13, 2018
  • FCU Team

Choices regarding your finances should be researched well, and often.  Sometimes, the choice really just comes down to not knowing enough about a financial institution to make a sound decision. We want to make that process a little easer for you by laying it all out there. The difference between us and the big banks is evident when it comes to rates on loans and deposits, but there may still be some lingering misconceptions that we can address to help out.


1. They aren’t big enough to offer financial protection.


There are big and small credit unions, but just like banks, your deposits at a credit union are insured by the federal government up to $250,000. Currently, the NCUA  monitors more than 7,000 credit unions, serving more than 110 million customer accounts nationwide.

2. It will be hard to access my money.


Florida Credit Union offers you 24/7 access to your money, anytime, anywhere, via online and mobile banking. And if you’d rather give us a visit, that’s ok too! We have 11 local branches to serve you, from Lake City to Ocala. We even have extended hours (open on Saturday and until 8 p.m., M-F) at two locations, in addition to our contact center.  Need cash fast? Access your account at any Presto! (at any Publix store) or STAR network ATM.

3.I can’t join. 


Well, this one is easy. As long as you live, or work, in one of the counties that we serve (A WHOPPING 36), you’re eligible for membership. And it’s called membership for a reason. When you join Florida Credit Union you’re becoming part owner of an institution that is democratically controlled by its members.

4.They don’t offer as many services as banks.


Because we’re not-for-profit, we return all profits to you. We do this via improved services, better rates, and fewer and lower fees. In addition, we provide the same financial products as banks—checking accounts, debit and credit cards, online banking, IRAs (individual retirement accounts), and home and auto loans. The wide array of financial services we offer not only focus on the now, but also help set a solid foundation for the later.


At Florida Credit Union, we believe in investing in the community we serve. We’re going places, and we’re taking over 94,000 members with us.



FCU Team
Hi Rudolph! Thank you for letting us know about your experience at our Lake City branch. This has been passed along to the appropriate department and they will be reaching out to you. We sincerely apologize that this was your experience with FCU. We value each and every one of our members and hope that you will allow us the opportunity to correct this. Thank you again for reaching out to us.
12/27/2018 5:21:29 PM

Rudolph Fiorillo
On Dec. 24, 2018, my wife and I went to the FLCU in Lake City for some info regarding our MM accounts. When we went into the bldg. and signed in, we were advised that we were # 2 on the queue. There was only one person ahead of us and looking at the women in the interview room, both were on the phone. After approximately 40 minutes, I went over to the office and spoke with a Jennifer Patrick. I told her that I thought our wait was unreasonable and she said that they were short on staff that day. She then said that she was recently promoted to her job, which begs the question, why didn't she go out on the floor and help to augment the shortage in staff. I informed her that if I ever have to wait 40 minutes again in order to ask a few questions, that I would close my account. She said that I could do that if that is what I wanted. I thought her answer was very flippant and based on her answer, I intend to draw down approximately a quarter of a million from my account after the first of the year. My wife may follow suit as she wasn't at all pleased with Ms. Patrick's response as well. I realize my withdrawal isn't significant enough to have an effect on your operations, but, it is one way for me to express how upset I was with her remark. Thank You
12/26/2018 1:40:28 PM