Florida Credit Union Review: Is It Legit Or A Scam? Find Out Here

Florida Credit Union

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Florida Credit Union was started as the Alachua County Teachers’ Credit Union in 1954. It serves the financial needs of Alachua County teachers. In 1955, when the credit union held its first annual meeting, it began including other local educational groups as members.


Credit unions are owned by their members and profits go back to them as better rates and more advanced technology. They serve members in North and Central Florida.

FLCU advertises on flcu.org.

Florida Credit Union Review: Is It Legit Or A Scam? Find Out Here 1


With so many lenders out there, it’s hard to know where to turn when it comes to taking out a loan. Florida Credit Union is one of many credit unions that’s been getting much attention lately. Let’s take a closer look at what they have to offer in this article, so you know if you like them or not.

During investigating the website and terms and conditions of this company, some interesting things came to light. The following are some key points that stood out as I examined the information.

  • APRs for loans range from 10.171% to 17.000%.
  • Terms range from 36 to 60 months.
  • Amounts range from $3000 to $5000
  • Your credit rating will determine the rate and term. 
  • Terms and rates are subject to change.
  • Application fees are $100. 

Florida Credit Union: What is It?

Florida Credit Union Review: Is It Legit Or A Scam? Find Out Here 2

In 1954, the Florida Credit Union (FCU) was established as a state-chartered credit union for teachers; today, it offers a broad range of banking services including checking accounts, savings accounts, personal loans, money market accounts, as well as auto loans, and mortgages.

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On average, consumers have given this company a 1-star out of 5-star rating, due to a large number of negative reviews, and as a result, the Better Business Bureau has given the credit union an A+ rating with 8 customer reviews and 31 complaints closed in the past three years.

How Does This Company Work?

The Florida Credit Union claims to be one of the most successful credit unions in the state, and membership in the organization makes you a co-owner of the institution. Consequently, its members are able to take advantage of lower fees on products and services, lower loan costs, and higher savings and CD rates.

If you decide to work with Florida Credit Union, you can speak with a Loan Officer 24 hours a day, 7 days a week.

How To Qualify For Florida Credit Union?

Getting a loan from Florida Credit Union can be done easily and without a membership fee, but you must pay an application fee when applying for the loan. To join Florida Credit Union (FCU), you must open an online saving account with a balance of $5. This deposit buys you a share of ownership in Florida Credit Union.

There are several ways to join FCU. You can join the bank online; you can call the Contact Center at 1-800-284-1144, or visit any of the branch locations in Belleview, DeLand, Gainesville, Lake City, Ocala, or Starke.

BBB Reviews

Since 2014, the credit union has been accredited by the Better Business Bureau and has an A+ rating. Over the past three years, the BBB has closed 31 complaints. Thus, the company has a 1-star rating.

A few Florida Credit Union reviews:

Lucie R 09/18/2022

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I have been a member of Florida Credit Union for 10+ years. I’ve been going through a bit of a hard time. I had a small loan with FCU and decided to pay off my current loan and apply for another loan to get my husband’s car fixed just as I’ve done in the past with no problem. Like a dummy, I pay off the loan only to get denied now I’m in a worst place than I started. I’m not sure why I was denied as this would have been my 3rd loan with them and I’ve always paid them off early. We get over that hurdle. I’m in need of surgery and just needed a little bit of cash to get me to my next payday because the hospital surprised me with an additional fee I did not know of since I already paid my doctor over $1,000 just for the surgery but now the hospital wanted $956 (health insurance is trash) We apply for a $500 payday loan and was denied although in the past we’ve gotten them on many occasion a few years back when my credit was actually bad. They say credit unions are for the people but that is no longer the truth, at least not this one. After the pandemic, you already have money to get any help. How will your customers be able to make it out of the trenches if they can’t even get a helping hand? People who have done business with you for years only to be turned away. If I have no money you will happily charge me a fee but not help to avoid that from happening.

Lisa V. 06/15/2022

I’ve had the worst experience with FCU for years and was finally able to refinance. Since I’ve refinanced for 3 months I’ve asked them to send my new finance company electronically my title or email me a release lien letter to send to the **** After calling them for months I called today 5 times. I was hung up on and laughed at. I’m pregnant and on bed rest. Still, nothing has been resolved.

Ken M 05/12/2022

OMG, Talk about getting nowhere and chasing your tail. Don’t bother applying with this Credit Union. Also, Stay away from supervisor Heather! She will leave you stuck with your online application and then tell you to visit one of their local branches to fill out an application. Their online application is a complete dead end!


How Much Does Florida Credit Union Charge?

Loans at Florida Credit Union have varying annual percentage rates (APRs), ranging from 10.171% to 17.000%. Terms range from 36 to 60 months. There is usually a $100 application fee.

As an example, a $5,000 loan at 9.75% for 60 months would have an APR of 10.607%, a monthly payment of $107.73, and finance charges of $1,464.02, totaling $6,464.

Is There Any Pre-Payment Penalty?

You can pay off your loan early without penalty at Florida Credit Union, unlike some larger credit unions that charge prepayment fees. As a result, it is a great option for borrowers seeking flexibility to repay their loans at their own pace.

How Does It Affect Your Credit?

Taking out a loan can affect your credit score, so you should know how it works. Many lenders will run a soft credit check to determine which interest rates and loan terms you qualify for. Once you apply, the lender will do a hard credit check to get a complete picture of your credit history and provide you with a final rate. Make sure you understand how these hard inquiries affect your credit score before applying for a loan.

How To Cancel Florida Credit Union?

Taking out a personal loan requires confidence in your decision. Once the money is transferred into your account, you can’t reverse or cancel it. To avoid any problems later, it’s essential to be sure from the start.

Having trouble making ends meet? Here are some helpful tips.

Just follow these simple steps and you’ll be good to go with your finances.

  • Keep your budget on track so that you can spend wisely.
  • Talk to a financial advisor. They can help you understand your options and develop a plan that works for you.
  • You don’t have to worry too much about debt. Other financial institutions will work with you to create a more manageable payment plan.

Florida Credit Union: Is it a Scam or Legit?

Florida Credit Union Review: Is It Legit Or A Scam? Find Out Here 3

While the Better Business Bureau gives Florida Credit Union an A+, customers only give them a 1-star rating out of 5 stars. 

Research different lenders thoroughly and compare their rates to ensure you get the best deal possible before taking out a loan. Make sure to read Florida Credit Union reviews to make an informed choice and avoid taking out a loan you cannot afford.

Let us know what you think about flcu.org!

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