iTHINK Financial Credit Union

iTHINK Financial Credit Union is a nonprofit financial institution based in Delray Beach, Florida. Originally founded in 1969 as IBM Boca Raton Employees' Federal Credit Union, it was established to serve the employees of IBM. Over the years, the credit union has undergone several name changes, becoming IBM Florida EFCU in 1972, IBM Southeast Employees' Federal Credit Union in 1977, and finally, iTHINK Financial in 2020.

History

iTHINK Financial Credit Union began with a modest start, as a group of IBM employees each deposited 25 cents to form the initial foundation. The credit union expanded its membership base in 1972 to include employees across Florida and later extended its reach to Alabama, Mississippi, and Puerto Rico in 1977. In July 2015, iTHINK Financial converted from a federally chartered credit union to a Florida state-chartered institution. The credit union acquired Mackinac Savings Bank in Boynton Beach, Florida, in 2017 and Oculina Bank in 2019, further expanding its presence.

Products and Services

As a not-for-profit organization, iTHINK Financial Credit Union provides a comprehensive array of financial products and services to its members. These include checking and savings accounts, money market accounts, certificates, IRAs, first and second mortgages, car loans, credit cards, business services, and more. The organization operates with a focus on personalized service, aiming to offer lower fees and better loan rates compared to traditional banking institutions.

Membership

iTHINK Financial's membership is open to individuals who work for or are retired from certain companies, live in specific counties, worship or attend school in approved counties, or are immediate family members of existing members. The credit union serves over 100,000 members and manages assets exceeding $2 billion.

Branches and Operations

iTHINK Financial operates 22 branches across Florida and Georgia, employing nearly 400 individuals. It is insured by the National Credit Union Administration (NCUA), ensuring member savings are protected up to $250,000.

Mission and Community Involvement

The credit union's mission is centered around providing "Service Excellence" to its members and contributing value to the communities it serves. This includes a commitment to supporting local initiatives and ensuring the safety and soundness of the credit union.

Technological Advancements

iTHINK Financial is committed to innovation, adopting technologies to enhance member experiences. This includes implementing omnichannel customer service strategies, appointment scheduling systems, and kiosk integration to streamline branch interactions and improve efficiency.

[1] https://engageware.com/success-stories/ithink-financial/ [2] https://en.wikipedia.org/wiki/ITHINK_Financial_Credit_Union [3] https://www.iabhp.com/provider/?view=ithink-financial-credit-union-124174 [4] https://www.ithinkfi.org/about [5] https://www.cbinsights.com/company/ithink-financial-credit-union