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Space Coast Credit Union Reviews

Sarah Edwards | January 24, 2024

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Harris is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: A good credit union can make it easier for you to qualify for loans, credit cards, and other services. But a bad credit union can do just the opposite. The team at SoloSuit can help you decide whether Space Coast Credit Union is the right one for you.

Establishing a long-term relationship with a local credit union is often a smart move for financial health. So if you live in or near Melbourne, Florida, you might be considering Space Coast Credit Union. It probably has the coolest name of any financial institution we’ve seen, but is it the right credit union for you? Take a closer look.

What is Space Coast Credit Union?

Space Coast Credit Union (SCCU) is a credit union based in Melbourne, Florida. It was founded in 1951. Today, it has 65 locations along the eastern coast of Florida. The name “Space Coast” is a reference to its location; Florida’s “Space Coast” is the coastal area that surrounds the Kennedy Space Center and Cape Canaveral Space Force Station.

SCCU currently serves more than 600,000 members. Although it originally only served members of the military, it now serves all local residents regardless of military status.

If you need to get in contact with Space Coast Credit Union, its headquarters is located at 8045 North Wickham Rd., Melbourne, FL 32940. The contact phone number varies based on location:

  • Miami-Dade: 305-882-5000.
  • Brevard: 321-752-2222.
  • Broward: 954-704-5000.
  • All Other Areas: 800-447-7228.

If you’d rather not call, SCCU offers a range of other options on its contact page. You can use secure messaging, live chat, and even WhatsApp to connect.

What products and services does Space Coast Credit Union offer?

Like most credit unions, Space Coast Credit Union has several different services to its members. Here’s a quick rundown.

SCCU offers three types of checking accounts

Many banks only offer one kind of checking account. SCCU has three.

  1. An interest checking account earns a small amount of interest, usually up to 0.3% APY as of January 2024. However, if the balance dips below $1,500, you’ll owe a monthly fee of $15. You need to deposit at least $25 to get started.
  2. A free checking account doesn’t pay any interest, but you also don’t have to maintain a certain balance to avoid a fee. Student checking lets teens from 13 to 17 open a checking account as long as there’s an adult as a joint account holder. There are no fees and no required balances.
  3. A health savings checking account helps you save money for qualified medical expenses. There are no account minimum balances, and it earns interest of 0.5% APY.

SCCU offers several savings accounts options

SCCU offers several types of savings accounts. Their standard savings account has a minimum opening deposit of $5 and earns 0.04% APY. Here are the accounts you can choose from:

  • Regular savings.
  • My Way savings (pays monthly dividends).
  • SCCU Saving Cents.
  • Youth Savings.
  • Christmas Club savings.

It’s also possible to open more than one type of savings account.

What about certificates of deposit (CDs)?

If you’re willing to park your money for a set amount of time, a bank or credit union can give you a guaranteed rate in a certificate of deposit (CD) — usually one higher than a savings account. Here’s an example of how they work.

Example: Brad wants to roll over his savings account into an account that makes more interest. He finds a CD that offers 5% interest, but only if he leaves the money in the account for a full year. Brad knows he won’t need to access the money, so he opens the CD.

Before you commit to an account for months or years, you’ll want to know what Space Coast Credit Union CD rates are.

Space Coast Credit Union CD rates are higher than you might think. It has CDs with APYs as high as 5.61%.

SCCU also provides credit cards, mortgages, and insurance

SCCU offers credit cards that often have lower interest than big-name cards. If you qualify, you can get a card with a rate as low as 14.49% APR.

If you’ve been sued for credit card debt or other bad debt, check out SoloSuit’s video on how to respond to a lawsuit Summons.

If you’re looking to buy a home, you might be interested in some of SCCU’s mortgage offerings. You can find mortgages with rates as low as 6.279% APR.

Not all credit unions offer insurance, but this one does. You can insure your loans, as well as purchase home or auto insurance.

Consider Space Coast Credit Union customer reviews

Often, if you have questionable credit and need a loan, people will suggest you reach out to local credit unions. Credit unions often form relationships with their members, and they sometimes are willing to extend credit to members who can’t get it elsewhere.

If the reviews of Space Coast Credit Union are to be believed, this credit union works the opposite way. Space Coast Credit Union reviews on its Better Business Bureau profile have an average of 1.27 stars as of January 2024.

Most of those reviews are from longtime customers who were denied even very small loans despite having good credit, consistent income, and little to no debt. Some complained that SCCU has been charging “inactivity fees” on savings accounts without notifying account holders, too.

SCCU also received dozens of complaints on its BBB profile in the last three years. Some had to do with undisclosed inactivity fees on savings accounts. Not surprisingly, a few complaints had to do with billing and collections. One complainant said that SCCU was trying to get a member to pay a debt that wasn’t theirs.

Make debt collectors prove you owe money.

Dealing with debt? SoloSuit can help!

If you’re dealing with debt or a debt lawsuit — from SCCU or elsewhere — you already know it can feel impossible to get ahead. SoloSuit can help you resolve your debt once and for all so you can move on with your life. Let us help you tackle your debt today!

Learn how SoloSuit can help you create an Answer letter in minutes if you’ve been sued by a debt collector.

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