Florida
BENEFITS OF THE FLORIDA STATE CHARTER (View/download PDF)
REGULATING AGENCY: Florida Office of Financial Regulation; Bureau of Credit Unions
- Russell Weigel, Commissioner
- Terry Hughes, Chief, Bureau of Bank Regulation
- Benjamin Brinkley, Chief, Bureau of Credit Union Regulation
- Website: flofr.gov/sitePages/DivisionOfFinancialInstitutions.htm
ACCREDITED: 2004
LEAGUE: League of Southeastern Credit Unions & Affiliates, Florida Credit Union Association (FCUA)
- Patrick La Pine, Chief Executive Officer
- Samantha Beeler, President
- Website: lscu.coop
PRIVATE SHARE INSURANCE: No
2023 STATS
- Largest SCU: SUNCOAST CU $17.41B in assets
- Largest FCU: GROW FINANCIAL FCU $3.52B in assets
Fourth Quarter 2023 | SCUs | FCUs | Total CUs | % of SCUs/Total |
---|---|---|---|---|
Total Credit Unions | 68 | 51 | 119 | 57.14% |
Credit Union Members | 5.77M | 1.6M | 7.37M | 78.23% |
Credit Union Assets | $89.72B | $23.13B | $112.85B | 79.50% |
FUN FACT
South Florida is the only place in the world where both crocodiles and alligators can be found in the wild.
RECENT NEWS
New Florida Legislation Proposes Notification Requirements for Certain Financial Institutions When They Terminate, Suspend, or Take Similar Action to ‘Restrict’ Customer Account Access
Courtesy of David C. Ashburn of Greenberg Traurig, LLP – Financial Regulatory & Compliance News
Dec. 15, 2023 — On Nov. 20, 2023, Florida Rep. Bob Rommel introduced legislation in the Florida House of Representatives, Florida House Bill 585 (HB 585), to require, starting July 1, 2024, that state-chartered and state-authorized financial institutions in Florida (including Florida-chartered banks, trust companies, credit unions, international bank agencies and international branches of foreign banks) and Florida qualified public depositories (QPDs) (collectively, Financial Institutions), file a termination-of-access report with the Florida Office of Financial Regulation (OFR), each time the Financial Institution terminates, suspends, or takes any “similar action restricting” a customer’s account access… Read more
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