Suncoast Credit Union Review: Checking, Savings and CDs

Suncoast Credit Union offers dividend-earning checking and savings accounts with no monthly fees, but its service area is limited.

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Overall bank rating

Suncoast Credit Union
  • Money market

  • Checking

  • CD rates

  • Banking experience

  • Overdraft fees

4.0

NerdWallet rating 

The bottom line:

If you qualify for membership, Suncoast Credit Union is a solid place to keep your money. Competitive share certificate rates (the credit union equivalent of certificates of deposit), low fees and a dedication to community make it a good financial institution in Florida.

Best for: Those who live near the institution’s branches and want simple, fee-free accounts.

Pros

  • No monthly fees on accounts.
  • Competitive annual percentage yields for share certificates.

Cons

  • Membership is limited to immediate family of members, residents of certain counties in Florida and alumni of Florida College.
  • Doesn't participate in shared branching.

Full review

Suncoast Credit Union Money Market Account
Suncoast Credit Union Money Market Account

Money market

Federally insured by NCUA

4.0

/5
 NerdWallet rating 
APY
0.70%
With $0 min. balance for APY

Suncoast’s money market account, a type of savings account, requires a minimum deposit of $1,000 to open. Its APY is just OK. You can find accounts with higher rates and a lower or no opening deposit minimum requirement elsewhere.

» Want to explore more? Check out NerdWallet’s best money market accounts

Suncoast Credit Union Smart Checking
Suncoast Credit Union Smart Checking

Checking

Federally insured by NCUA

4.5

/5
 NerdWallet rating 
Monthly fee
$0
APY
0.01%
With $0 min. balance for APY

Suncoast’s Smart Checking account has no monthly fees. There is also no minimum opening deposit requirement if you open the account in person; you’ll need to deposit at least $5 to open the account online.

The account earns 0.01% APY. Other banks and credit unions offer higher rates on checking accounts, but many are online-only.

A unique feature of this account is that for every purchase made with your debit card, Suncoast makes a donation to benefit local schools.

» Comparison shopping? See our list of the best checking accounts

Suncoast Credit Union CD
Suncoast Credit Union CD

CD

Federally insured by NCUA

5.0

/5
 NerdWallet rating 
1-year APY
4.00%
3-year APY
4.00%
5-year APY
3.25%
Minimum deposit
$500

Suncoast’s share certificates — the credit union version of a certificate of deposit — offer competitive rates that include 1.30% for a 6-month certificate to 4.00% for a 1-year certificate. But like Suncoast membership and the credit union's other products, the CDs are only available to Florida residents.

The initial deposits and minimum balances are a manageable $500. The credit union also offers jumbo certificates that require a minimum $100,000 deposit, but rates are the same as those for regular share certificates. (Generally, a much higher APY is what makes locking up a large sum of money in a jumbo CD rather than a standard CD appealing.)

» Want to see more options? Compare the best CD rates

Banking experience

3.5

NerdWallet rating 

Suncoast is a regional institution with 75 branches, all in Florida. Unlike some other credit unions, it doesn’t participate in shared branching. However, it is enrolled in a shared ATM network that gives fee-free access to more than 30,000 cash machines nationwide. It also partners with another company to provide its members with free financial wellness services, which is a nice perk.

Suncoast offers highly rated mobile apps — impressive for a small credit union. Customers can get help by phone on weekdays from 7 a.m. to 8 p.m. and on Saturdays from 8 a.m. to 1 p.m. ET. Support is also available on Twitter.

The credit union also responds to the needs of its community with a Spanish version of its site, as well as a phone number for the hearing impaired.

» Also check out our list of the best banks and credit unions for mobile banking

Overdraft fees

4.0

NerdWallet rating 

Suncoast charges $29 per day for overdrafts. That’s better than some banks that charge a fee multiple times per day. But there are banks and credit unions that have done away with overdraft fees entirely.

You can opt into overdraft protection, though. Members can link their Suncoast money market, savings and credit accounts as a backup for checking. There is no transfer fee if funds have to be moved into checking to cover a transaction.

» Tend to overdraw your account? Check out the best banks for overdrafts

Suncoast Credit Union Money Market Account
Suncoast Credit Union Money Market Account

Money market

Federally insured by NCUA

4.0

/5
 NerdWallet rating 
APY
0.70%
With $0 min. balance for APY

Suncoast’s money market account, a type of savings account, requires a minimum deposit of $1,000 to open. Its APY is just OK. You can find accounts with higher rates and a lower or no opening deposit minimum requirement elsewhere.

» Want to explore more? Check out NerdWallet’s best money market accounts

How does Suncoast Credit Union compare?

NerdWallet rating 

4.5

/5
NerdWallet rating 

5.0

/5
NerdWallet rating 

5.0

/5

APY

3.25%

With $0 min. balance for APY

APY

3.00%

With $0 min. balance for APY

APY

3.00%

With $0 min. balance for APY

Bonus

N/A

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

Bonus

$200

Requirements to qualify

Methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.