WHAT IS THE TAMPA BAY FEDERAL CREDIT UNION DIFFERENCE?

New federal laws and regulations are changing the structure and face of the financial services industry. Based on the “bailout phobia” that exists, more regulatory change is on the way. In this time of accelerating change, it is important to truly understand how credit unions are unique and different. Why do credit unions remain a necessary and extremely popular financial alternative for nearly 100 million Americans.

Not-for-profit - Credit unions are not-for-profit financial cooperatives. Tampa Bay Federal Credit Union exists to serve our members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

Ownership - Credit unions are economic democracy. At a credit union, every customer is both a member and an owner. Each Tampa Bay Federal Credit Union member has equal ownership and one vote -- regardless of how much money a member has on deposit.
Volunteer Boards. Tampa Bay Federal Credit Union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily.
Membership Eligibility. In general, credit unions cannot serve the general public. People qualify for Tampa Bay Federal Credit Union membership through their employer or organizational affiliations.

Financial Education - Credit unions assist members to become better- educated consumers of financial services. A national study shows that just ten hours of personal finance education can positively affect students' spending and savings habits for a lifetime. Tampa Bay Federal Credit Union has partnered with the National Endowment for Financial Education, a not-for-profit foundation, to expand financial education among high school students.

Social Purpose: People Helping People. Credit unions exist to help people, not make a profit. At Tampa Bay Federal Credit Union, our goal is to serve all of our members well. Our Mission:

Serve Members’ Changing Financial Needs…with pleasure.

Every member counts. Our members are fiercely loyal for this reason. They know their credit union will be there for them in bad times, as well as good. The same people-first philosophy causes members of our team to get involved in community charitable activities and worthwhile causes.

THE CREDIT UNION DIFFERENCE – ALIVE AT YOUR CREDIT UNION!