A Local Credit Union that can't be Bought or Sold
Recently, news was released that Florida Citizens Bank, a local financial institution worth about $230 million in assets, is merging with Harbor Community Bank, a much larger institution with about $1.5 billion in assets. What’s interesting about this is that FCB was the last bank with branches in Gainesville to have its headquarters here; Harbor Community Bank is based out of Indiantown, Florida.
For the customers of FCB, that could mean that the people running their hometown financial institution wouldn’t necessarily understand their local needs and concerns, because they don’t experience them every day. The people in charge of their money don’t drive the same streets, frequent the same stores or visit the same events as they do.
This sort of situation can’t happen to Florida Credit Union members. Once you become a member of FCU, you become a co-owner of our financial service cooperative. FCU can never be bought or sold, because our stockholders and customers are the same people. The profits we make are put back into the credit union in the form of low-interest loan rates, convenient services and products, and supporting the community by participating in and sponsoring local events.
Plus, being based in the neighborhood means we strive to support the same small businesses you visit all the time, because we visit them, too. Oftentimes, we even manage their small business banking services! Our decisions are made locally and our products and services are designed to meet the financial needs of business owners, while preserving the strength of the cooperative for future generations.
If you’re done dealing with a financial institution that doesn’t represent your community, stop by your local Florida Credit Union branch. We connect your money to life, both at home and out in the neighborhood.
Interested in learning more about FCU? Check out this article: " Do You Know the Credit Union Difference? "