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Tampa credit union adds commercial services


  • By Louis Llovio
  • | 4:15 p.m. May 31, 2024
  • | 2 Free Articles Remaining!
Suncoast Credit Union was chartered in 1934.
Suncoast Credit Union was chartered in 1934.
Courtesy image
  • Tampa Bay-Lakeland
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Suncoast Credit Union has launched a suite of financial tools aimed at businesses.

The Tampa-based financial institution announced last week that it had established the new treasury management services to allow commercial account holders to better control payment processes, billing and eliminate paper checks.

They may also help attract new customers.

Kevin Johnson, Suncoast’s president and CEO, says in a statement that with the new services the credit union “has positioned itself competitively among other commercial financial institutions.”

Suncoast, according to its 2023 annual report, saw its commercial customer base grow year over year by $142 million last year. It has a total of 56,075 business members and $692 million in business deposits according to the report.



(The 2022 annual report does not contain those data points for comparison.)

The new services include:

  • ACH Origination
  • Remote Deposit
  • Wire Transfer Services
  • Positive Pay
  • ACH Collection
  • Payroll Services
  • Merchant Services
  • Commercial Deposit and Sweeps Products

Suncoast is the largest credit union in the state. It was chartered in 1934 and today has $18.2 billion in assets and operates 78 branches statewide.

 

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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