Question 1

What is Compass Financial Federal Credit Union?

Accepted Answer

Compass Financial Federal Credit Union is a community-focused federal credit union based in South Florida. With approximately $24 million in total assets and over 4,000 members, it serves the Town of Medley, Hialeah Gardens, and surrounding industrial areas in Miami-Dade County. The credit union holds a 5-Star Superior rating from BauerFinancial, the nation's leading credit union rating firm, indicating exceptional financial strength.

Originally founded to serve railroad employees, the credit union has evolved to focus on underserved industrial communities while maintaining its commitment to personalized service and member financial well-being.

Question 2

When was Compass Financial Federal Credit Union founded?

Accepted Answer

Compass Financial Federal Credit Union was founded in 1936 by employees of the Florida East Coast Railroad, who executed a formal agreement to create FEC Credit Union. The credit union's humble beginnings started on top of the post office in Miami Springs, Florida, primarily focused on serving railroad employees and their families.

The first offerings were basic financial services: savings accounts, checking accounts, and loans. Raymond Jones, who served as Chairman of the Board for 40 years, noted that "people helping people was the reason the Credit Union was started and the reason it is here today."

In the 1980s, the charter changed its name to Compass Financial Federal Credit Union and moved its offices to Grand Park, an industrial park developed and owned by the railroad.

Question 3

Where is Compass Financial Federal Credit Union headquartered?

Accepted Answer

Compass Financial Federal Credit Union is headquartered in Medley, Florida. The main banking center is located at 9960 NW 116th Way, Suite 5-6, Medley, FL 33178.

The mailing address is P.O. Box 160580, Hialeah, FL 33016.

Question 4

Where does Compass Financial Federal Credit Union operate?

Accepted Answer

Compass Financial Federal Credit Union operates primarily in the Miami-Dade County area of South Florida, with a specific focus on the Town of Medley, Hialeah Gardens, and surrounding industrial communities.

In the 1990s, the credit union expanded its field of membership to include industries located in these areas, many of which were underserved. The credit union also participates in the shared branch network, allowing members to access services at thousands of credit union locations nationwide.

Question 5

What services does Compass Financial Federal Credit Union offer?

Accepted Answer

Compass Financial Federal Credit Union offers a comprehensive range of financial services, including:

Deposit Accounts: Share (savings) accounts, checking accounts (share draft accounts), certificates of deposit, and specialized accounts.

Lending Services: Auto loans, personal loans, credit cards (Visa), business loans, and mortgage services through a partnership with AmeriCU Mortgage. Mortgage options include home purchases, refinancing, cash-out refinancing, and loans for second homes and investment properties.

Digital Banking: Mobile banking app available for iOS and Android devices with features including account balance checks, transaction history, fund transfers, bill pay, and remote check deposit. Online banking platform with 24/7 account access.

Additional Services: Free financial education programs through a partnership with Consolidated Credit, auto buying services through Auto Advisors, and access to shared branch network locations across the country.

Question 6

What makes Compass Financial Federal Credit Union unique?

Accepted Answer

Compass Financial Federal Credit Union distinguishes itself as South Florida's oldest credit union, with 89 years of continuous service since 1936. The credit union has earned a 5-Star Superior rating from BauerFinancial, placing it among the strongest credit unions in the nation in terms of capital, loan quality, and profitability.

Under the leadership of President and CEO Leonardo Acosta for over 22 years, the credit union emphasizes a "people helping people" philosophy with personalized, relationship-based banking. The credit union proudly serves three generations of members, creating a true family atmosphere.

The credit union's commitment to its community is demonstrated through its focus on serving underserved industrial areas and providing free financial education to all members. As South Florida's oldest credit union, it combines contemporary products with traditional, personalized service.

Question 7

What type of financial institution is Compass Financial Federal Credit Union?

Accepted Answer

Compass Financial Federal Credit Union is a federal credit union chartered under federal law and regulated by the National Credit Union Administration (NCUA). The charter number is 1068.

As a federal credit union, it operates as a not-for-profit financial cooperative owned by its members. Membership is based on a common bond, specifically those who work in industries located in the Town of Medley, Hialeah Gardens, and surrounding areas in Miami-Dade County. Family members of existing members are also eligible to join.

The credit union carries federal deposit insurance through the NCUA, protecting member deposits up to $250,000 per account.

Compass Financial Federal Credit Union

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About Compass Financial Federal Credit Union in the United States