Credit Union vs Banks

Suncoast is proud to be a not-for-profit, financial cooperative that exists to meet the financial needs of our members.

Credit unions operate under the eight principles of a cooperative, which are:

• Voluntary and open membership
• Democratic member control
• Member economic participation
• Autonomy and independence
• Financial education, training and information
• Cooperation among cooperatives
• Concern for the community
• Diversity, Equity and Inclusion

All of our decisions at Suncoast are aligned with those core cooperative principles. When your money's in a bank, the profits on that money go to stockholders. But at a credit union, profits go to members.

Without a separate group of stockholders or private owners demanding a return on their investments, all net income is given back to the membership directly or set aside for reserves.

Since the members are the owners of a credit union, we're able to offer lower rates on loans, higher earnings on deposits and more free services.