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Loss of Confidence in Banks Spikes Credit Union Deposits 

December 30, 2008 - Many individuals are getting a better understanding and an education of credit unions and switching their financial institution.  With the loss of confidence growing in traditional banks, people are asking for a better education in the differences between the services credit union's offer like certificate of deposits, checking accounts, mortgages and other loans and many other financial products.  

Tropical Financial Credit Union has been educating individuals about the financial benefits of credit unions and why interest rates on certain loan products are lower and savings products are higher. Generally, credit union's CDs, loans and other rates are able to be more favorable than traditional banks due to the fact that members are the owners of the financial institution. 

"As the financial crisis continues to hit many people in the pocket and savings accounts and certificate of deposit rates drop, credit unions continue to be strong.  We are on a strong foundation and continue to grow in these hard times," said James Wagy of Tropical Financial Credit Union. 

People are being encouraged to contact their local credit union for a financial education on how they can benefit you and your business.  People who are located in South Florida can contact Tropical Financial Credit union about CD rates as well as other financial products they offer at 305-261-8328 or 888-261-8328 outside Miami-Dade or via TropicalFCU.org

About Tropical Financial Credit Union
TFCU has been a leading South Florida mortgage lender since 1935. As a member-owned and member-operated financial cooperative, Tropical currently manages the time and money of over 65,000 members.

If you have questions about a mortgage, other loan, or NCUA Safety, contact us at 305-261-8328 in Miami-Dade County or 1-888-261-8328 elsewhere.