State Chartered Credit Unions in Florida

Overview
State Chartered Credit Unions in Florida operates as a nonprofit financial institution that serves members primarily involved in building and construction unions across the state. The credit union has been tax-exempt since October 1970 and is recognized by its Employer Identification Number (EIN): 59-1262972.

Services Provided
The credit union offers a variety of financial products and services tailored to meet the needs of its members. These include:

• Checking Accounts: PowerNet Credit Union provides checking accounts without monthly fees, allowing for unlimited check writing and offering services such as overdraft protection and internet home banking with bill pay options.

• Savings Accounts: Members benefit from competitive interest rates on savings accounts, which typically offer returns superior to those of traditional banks.

• Loan Products: The institution strives to maintain low and competitive loan rates. It offers various loan options, including home equity lines of credit, mortgages (both fixed and adjustable rates), and personal loans.

• Retirement Accounts: Traditional and Roth Individual Retirement Accounts (IRAs) are available, with investments in savings accounts and certificates of deposit ranging from six months to sixty months. These accounts provide tax-preferred treatment and are insured for up to $500,000 per member.

Membership
Membership in the credit union is primarily open to individuals who are members of building and construction unions in Florida. This focus on specific union memberships helps tailor the services and community support to the needs of its members.

Community Involvement
As a nonprofit organization, State Chartered Credit Unions in Florida emphasizes community engagement and support, aiming to enhance the financial well-being of its members and their families through various initiatives and programs.

Conclusion
State Chartered Credit Unions in Florida exemplifies a commitment to serving its members, offering a range of financial products designed to enhance savings and provide competitive loan options while fostering a strong sense of community among construction union members in Florida.