Question 1

What is Orlando Credit Union?

Accepted Answer

Orlando Credit Union is a state-chartered, federally insured community credit union based in Orlando, Florida. With over $356 million in assets and approximately 27,000 members, the credit union serves residents, workers, and businesses across eight Central Florida counties. Originally founded to serve city employees, Orlando Credit Union has evolved into a full-service financial cooperative offering a comprehensive range of banking products and digital services. The credit union is certified as a Community Development Financial Institution (CDFI), demonstrating its commitment to serving economically disadvantaged individuals within underserved communities.

Question 2

When was Orlando Credit Union founded?

Accepted Answer

Orlando Credit Union was founded on April 1, 1936, as Orlando City Employees Federal Credit Union. The credit union was chartered based on a petition signed by 32 employees of the City of Orlando. It opened for business in a closet on the second floor of Orlando City Hall with an initial deposit of just $160.

City employees volunteered as credit union staff during their volunteer hours until growth necessitated hiring permanent employees. On January 21, 1974, the institution changed its name to Orlando Federal Credit Union, marking the beginning of an expanded membership base beyond city employees.

On October 1, 2019, the credit union underwent a significant transformation, converting from a federally-chartered credit union to a state-chartered, federally insured credit union and adopting its current name, Orlando Credit Union.

Question 3

Where is Orlando Credit Union headquartered?

Accepted Answer

Orlando Credit Union is headquartered at 945 S Orange Avenue in Orlando, Florida.

Question 4

Where does Orlando Credit Union operate?

Accepted Answer

Orlando Credit Union serves members across eight counties in Central Florida: Lake, Orange, Osceola, Seminole, Volusia, Brevard, Polk, and Hillsborough counties. Membership is open to anyone who lives, works, or worships in these counties, as well as businesses operating within these areas.

The credit union maintains seven branch locations throughout the Orlando region and offers access to over 5,000 shared branching locations nationwide and more than 80,000 surcharge-free ATMs across the country.

Question 5

What services does Orlando Credit Union offer?

Accepted Answer

Orlando Credit Union provides a full suite of financial products and services, including:

Deposit Accounts: Share accounts (savings), checking accounts, certificates of deposit (CDs), and youth accounts to help younger members build financial literacy.

Lending Products: Auto loans with special discounted rates for educators, medical professionals, first responders, law enforcement, military, and government employees. Personal loans, home equity lines of credit, and mortgage lending services are also available.

Digital Banking Services: A comprehensive online banking platform accessible via desktop and mobile app, featuring mobile check deposit, bill pay services, account-to-account transfers, money management and budgeting tools, and digital credit monitoring with free FICO credit scores.

Card Services: Debit and credit cards with digital wallet integration, card management features through the OCU Card Manager App, and the My Debit Offers program that provides cash back rewards and special merchant offers.

Interactive Teller Machines (ITMs): The credit union offers "Telly," an innovative ITM that connects members with live tellers via video conferencing during business hours and functions as a traditional ATM after hours.

Question 6

What makes Orlando Credit Union unique?

Accepted Answer

Orlando Credit Union distinguishes itself through several key features:

CDFI Certification: As a certified Community Development Financial Institution, Orlando Credit Union is dedicated to providing financial services to economically disadvantaged individuals within underserved communities, investing critically needed financing often unavailable from mainstream financial institutions.

Community Commitment: The credit union maintains an annual goal of completing over 400 volunteer hours and partners with local organizations including Habitat for Humanity and United Against Poverty, reflecting its "people helping people" philosophy.

Special Professional Discounts: Orlando Credit Union offers exclusive 0.50% rate discounts on auto financing for educators, medical professionals, first responders, law enforcement personnel, military members, and government employees, recognizing their service to the community.

Innovative Technology: The credit union was an early adopter of Interactive Teller Machine (ITM) technology, allowing members to interact face-to-face with tellers remotely while enjoying the convenience of ATM access, combining personalized service with 24/7 availability.

Long-Standing Stability: With over 88 years of service since 1936, Orlando Credit Union has demonstrated remarkable stability and longevity, adapting through multiple economic cycles while maintaining its founding principle of "not for profit, not for charity, but for service."

Question 7

What type of financial institution is Orlando Credit Union?

Accepted Answer

Orlando Credit Union is a state-chartered credit union, federally insured by the National Credit Union Administration (NCUA). Prior to October 2019, it operated as a federally-chartered credit union, but members voted to convert to state charter to allow for expanded membership opportunities.

As a not-for-profit financial cooperative, Orlando Credit Union is owned by its members rather than shareholders. This cooperative structure means that earnings are returned to members through competitive rates on savings and loan products, lower fees, and enhanced services rather than distributed as profits to external investors.

Membership is community-based and open to anyone who lives, works, or worships in the credit union's eight-county service area, as well as businesses operating within these counties. The credit union operates under the principle that members are both owners and customers, with each member having an equal vote in credit union governance regardless of account balance.

Orlando Credit Union

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About Orlando Credit Union in the United States