South Florida Educational Federal Credit Union was one of the first Credit Unions chartered in Florida, originally called Dade County Florida Teachers Federal Credit Union.
The credit union's name was changed to Dade County School Employees Federal Credit Union to reflect the eligibility of all school employees.
The credit union's name was changed to South Florida Educational Federal Credit Union, after the county's name was changed to Miami-Dade. This name better reflects the credit union's educational focus.
The Credit Union Difference
Credit unions throughout the country are not-for-profit, cooperative financial institutions established to provide our members with a variety of money-saving financial services. Each member is an owner of the credit union and has one vote at the annual meeting when elections are held for the Board of Directors. All Board of Directors and the Supervisory Committee members are volunteers, unlike those of banks who are paid stockholders.
Our Mission Statement
South Florida Educational FCU is a member-owned cooperative dedicated to providing members with quality affordable financial services.
Our Board of Directors
The Credit Union's Board of Directors consists of seven members elected for a term of three years in accordance with the Credit Union's by-laws. All board members are elected from our field of membership and serve as unpaid volunteers. Directors are required to attend monthly meetings to set Credit Union policies and oversee its many member services.
Our Supervisory Committee
Our Supervisory Committee is:
Responsible for ensuring that the Credit Union's Board of Directors and management establish practices and procedures to properly safeguard members' assets.
Comprised of volunteer members and function completely independently of Credit Union management.
Responsible for the annual financial statement audit from a licensed, independent auditor.
Appointed by the Board of Directors.
Members can report perceived Credit Union rule or policy violations, unethical behavior, and complaints not resolved by management directly to the Supervisory Committee by mailing a letter to the following address:
South Florida Educational Federal Credit Union
c/o Supervisory Committee
P.O. Box 160355
Miami, FL 33116-9998
All member communications are handled with the utmost confidentiality.
In January 2013, Michael DiBenedetto was named the new President of South Florida Educational FCU, following the retirement of William C. Page. Previously DiBenedetto was the Executive Vice President of Administration at First Light Federal Credit Union, in El Paso, Texas.