About Us

Your Money is Safe with Tropical Financial

First, we would like to thank you for your faith in Tropical Financial Credit Union.   Since 1935, Tropical has helped its members save for their retirement, prepare for their children’s college education, buy homes, purchase cars and so much more. 

With major banks bailouts, home foreclosures on the rise, property values on the decline, and the stock market on a roller coaster, this is a very unsettling and uncertain time for all of us.

One thing is certain. Your best course of action is to stay calm, ask questions, and stay informed. Pulling your money out of a federally insured institution to keep at home is not the right decision. Your savings won’t earn any interest, and most importantly, there is little to no security.  

Deposits at your credit union are federally insured just like major banks but by a different federal safety institution, The NCUA.  The National Credit Union Administration (NCUA) insures up to $250,000 per account by the NCUA’s National Credit Union Share Insurance Fund (NCUSIF).  Created by Congress in 1970, this entity is backed by the full faith and credit of the U.S. government.  Since its creation, no insured credit union account has lost a penny of members' money.   

Additional coverage in this fund may also be available if you have different ownership rights in different types of accounts.  For more information on how to set up multiple insured accounts in order to ensure the maximum safety coverage available, the NCUA provides an estimator at http://webapps.ncua.gov/ins/

TFCU continues to be financially healthy and strong.

• We are well-capitalized and lend responsibly and conservatively.  Tropical never became involved in the sub-prime lending that is the source of the woes for so many banks needing bailouts.
• We recently received an "Excellent" rating from BauerFinancial, an independent source for unbiased, independent bank and credit union ratings.
• Our total net worth is approximately 9.53% of our assets, compared to the National Credit Union Administration’s (our federal regulator) requirement of 7% to be considered "well-capitalized" as a credit union. 

During this difficult economic time, we will continue to work to make sure your money is safe and improve the financial lives of our members now and in the future.  Again, thank you for your confidence in Tropical Financial Credit Union.

If you have questions about your TFCU deposits and loans or NCUA Safety, contact us at 305-261-8328 in Miami-Dade County or 1-888-261-8328 elsewhere.