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Explore Suncoast Credit Union’s suite of bank accounts

No-fee accounts and solid CD rates in the Sunshine state.

Updated

Suncoast Credit Union
Suncoast Credit Union offers decent rates considering it’s primarily a brick-and-mortar provider, and might appeal to folks in western Florida hoping to stash cash away in long-term certificates. But it isn’t the most competitive when it comes to variety of products and high-yield savings.

Am I eligible?

To join, you must meet at least one of the following criteria:

  • Someone in your immediate family is a member.
  • You live in Florida — specifically, in one of the counties Suncoast services.
  • You’re an alumnus of Florida College.

What banking products does Suncoast offer?

Suncoast offers a large suite of personal and business bank accounts.

Personal

With a Suncoast checking or savings account, you’ll get access to its online and mobile banking tools, including direct deposit capabilities.

Business

Suncoast offers a wide range of solutions for business owners, from payroll support to insurance. You’ll get a free debit card to use with your Suncoast business accounts, with access to Suncoast and CO-OP ATMs throughout Florida.

Similar to the personal accounts, you’ll need to open a Business Regular Savings account with a $5 deposit to kick-start a business-banking relationship.

How does Suncoast compare to other banks?

Suncoast is focused on serving sunshine state residents. Suncoast Credit Union is a nonprofit and owned by its members which typically means lower fees overall.

Checking accounts

Pros

  • No monthly fees. All checking accounts are free to open and maintain except for the Business Classic Checking, which has an avoidable $20 monthly fee.
  • Interest-bearing options. Both of Suncoast’s personal checking accounts earn 0.05% APY.
  • Low minimum deposits. You can open personal checking accounts with as little as $5 and business checking accounts with $50.

Cons

  • Small selection of checking accounts. There’s only one personal checking account for adults and it doesn’t offer much in terms of rewards or special perks.
  • Small transaction limits on business accounts. You’ll get 300 free transactions a month at most, which means Suncoast may not be ideal if your monthly activity typically exceeds these limits.
  • Low APYs for checking. Although most checking accounts don’t earn interest, there are other banks that offer higher APYs.

Savings accounts

Pros

  • Several account options. Choose from two personal savings accounts and two business savings accounts.
  • Automatic savings features. Set up automatic transfers to have money sent from checking to savings on a regular basis. Or, sign up for payroll deduction and have part of your paycheck automatically deposited in savings on when you get paid.

Cons

  • Low APYs. All of Suncoast’s personal and business savings accounts earn 0.15% APY, while most high-yield savings accounts at other banks have rates above 1.5%.
  • Excessive transaction limit. Like other savings accounts, if you make more than six outgoing transactions a month, you’ll pay a fee or risk having your account closed. But check with the provider to see if this rule is temporarily suspended.
  • Cash withdraw limits. Each Suncoast savings account comes with an ATM card, but you can’t withdraw more than $615 a day.

CDs

Pros

  • Share certificates have high yield potential. A 60-month share certificate of $500 will earn a 2.25% APY, which is fairly competitive in the market.
  • Low opening deposits. Regular CDs have a low $500 minimum deposit requirement, while other financial institutions have minimums as high as $10,000.
  • Several account options. Suncoast offers regular CDs, Jumbo CDs, Teen CDs and a Smart Start CD where you can save $40 a month until you have at least $500 saved up for a regular CD.

Cons

  • Early withdrawal penalties. You’ll pay a penalty equal to 90 days to 180 days interest if you need to access the funds in your CD before it matures.
  • Can’t directly apply online. You’ll need to visit a local branch, call customer service or send a secure email through your Suncoast account portal to open a CD.

Overall banking

Pros

  • Easy ATM access. Suncoast is part of the CO-OP ATM network in Florida, which means you can use tens of thousands of ATMs around the state for free.
  • Membership perks. Suncoast members get access to free financial literacy workshops and webinars, free financial counseling and more.

Cons

  • Limited customer service hours. Representatives keep bank hours and can’t be reached over the phone on Sundays. You can call between 8 a.m. to 1 p.m. on Saturdays
  • Strict membership requirements. Suncoast is only available to people in western Florida, so outsiders should look elsewhere.
  • No shared branching. Unlike other credit unions, Suncoast doesn’t participate in shared branching, so in-person support is limited to its 66 branch locations.

      Compare with leading bank and credit union accounts

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      BBVA Online Checking
      $25
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      $3
      A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
      Citibank® Account Package
      Citibank® Account Package
      $0
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      $2.50
      Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
      NorthOne Business Banking
      $50
      More than 300,000 ATMs across America.

      $0
      A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
      BBVA Free Checking
      $25
      1,000 fee-free ATMs across the country
      $3
      Pay a $0 monthly service charge and get free access to BBVA ATMs.
      Chase Total Checking
      $0
      Access to 16,000 ATMs and nearly 4,900 branches nationwide
      $2.50
      Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
      Chime Spending account
      $0
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      $2.50
      Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
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      Suncoast customer service

      You can reach a Suncoast Credit Union representative via:

      • Phone. 800-999-5887 or 813-621-751
      • Social media. Send a message through Facebook or Twitter.
      • Snail mail. Address your note to:
          • PO Box 11904
          Tampa, FL 33680

      Bottom line

      If you’re a ride-or-die Florida resident and are looking for a full-service, locally operated institution, you might be drawn to Suncoast’s solid reputation and fee-free accounts. But folks hoping for more variety and a national presence should see what other providers have to offer.

      Frequently asked questions

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