REGULATING AGENCY: Florida Office of Financial Regulation; Bureau of Credit Unions

Florida State Capitol


LEAGUE: League of Southeastern Credit Unions & Affiliates, Florida Credit Union Association (FCUA)

STATS: (As of Dec 2020)

  • TOTAL # SCUs: 61
  • TOTAL # FCUs: 67
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 52% of 128 FL CUs
  • TOTAL $ SCU ASSETS: $63,432,864,876
  • TOTAL $ FCU ASSETS: $23,156,893,858
  • TOTAL ASSETS: $86,589,758,734

FUN FACT: The United States city with the highest rate of lightning strikes per capita is Clearwater.


OFR Announces Top Investor Threats for 2021

MARCH 9, 2021 — Tallahassee, Fla. – The Office of Financial Regulation (OFR) today reminded investors to be on the lookout for investment schemes pitched through the internet and social media, particularly those involving precious metals, cryptocurrencies, promissory notes and foreign exchange markets.

Schemes related to these products were identified as the top threats facing investors this year in a survey by the North American Securities Administrators Association (NASAA), of which OFR is a member. The survey includes responses of enforcement officials with state and provincial securities regulators throughout the United States, Canada and Mexico.

The survey found fraudulent internet- or social media-based frauds as the top threat to investors. Ranked second are cryptocurrency-related and precious metals-based investments, especially those purchased through self-directed individual retirement accounts (IRAs), which lack the services and protection of traditional IRAs and can be fertile soil for scammers. Foreign exchange-related schemes rounded out the top three threats. In particular, enforcement officials expect to see a resurgence of high-yield foreign exchange and cryptocurrency-related schemes targeting investors this year disguised as membership or investment programs.

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