Meet Addition Financial: Your Friendly Neighborhood Credit Union

In most of our blog posts, we focus on providing financial education that can help our valued members with their personal finances. We care about your financial success and we provide affordable financial services that can help you save your money and achieve your most important financial goals.

Now it’s time to tell you our story. Who are we at Addition Financial and what do we do? How did we get our start—and where do we see ourselves going in the future? Here’s what we’d like you to know.

What is Addition Financial’s Story?

Financial education is a passion of ours, so it may not surprise you to learn that Addition Financial was founded by a group of educators. Our story dates back to 1937 when a group of 23 educators in Orange County banded together to provide teachers with better and more affordable financial services than what local banks were offering. Our original name was Orange County Teachers Federal Credit Union. At the time, membership was extended only to educators in Orange County Public Schools.

As time passed, what started as a small credit union expanded its membership base beyond education. We changed our name to Central Florida Educators Federal Credit Union as educators in new counties became eligible for membership. Then we shortened our name to CFE Federal Credit Union when we changed to a community charter and expanded membership to people in Seminole, Lake and Osceola counties.

CFE Federal Credit Union acquired UCF Federal Credit Union and in 2015, we acquired Seminole Schools Federal Credit Union. These acquisitions allowed us to expand into the higher education community. By 2019, we recognized that we needed a new name that would make it clear that we were a credit union serving a broad swath of Central Florida residents. That’s when we became Addition Financial. At the same time, we changed from a federal to a state charter and expanded our field of membership to include a total of 22 counties in Florida. 

As of 2024, we proudly serve members in 24 Florida counties, providing them with affordable financial services including checking and savings accounts, credit cards, loans and financial guidance. We are the official financial institution of the UCF Knights and their home at Addition Financial Arena, and the preferred credit union of both Seminole State College of Florida and Valencia College.

How Does a Credit Union Like Addition Financial Differ From a Traditional Bank?

One of the most important things to know about Addition Financial is that we are a credit union and not a bank. Here are some of the most important ways that Addition Financial differs from a bank:

  • When you join a credit union, you’re a member instead of a customer. That means you’re a part owner and can take advantage of an array of membership privileges and benefits.
  • We offer more affordable interest rates than most banks and we’re willing to work with members who may have less-than-perfect credit to help them raise their credit scores and achieve their financial goals.
  • We provide financial education to help our members learn how to manage their money and help them make their financial dreams into realities.
  • We provide the best customer service and we’re always happy to help our members with any aspect of their finances.
  • Our members share in our revenue, both in the form of more affordable interest rates and in the form of dividends, which members can earn on the balances in their savings accounts.

In return for a small, one-time membership fee, you can become a part-owner in our credit union and share in our success. That’s something you won’t find at a bank.

What Types of Services Does Addition Financial Offer?

Addition Financial offers a wide array of financial products and services. Here are some of the most important services you can find as a member.

Checking Accounts

Checking accounts provide members with a safe place to keep their money. We offer several checking account options including Classic Checking, Free Checking and Student Checking. We also have Benefits Checking for members who want to earn dividends on their checking account balance and Opportunity Checking for members who need help building their credit.

Savings Accounts

Savings accounts are at the heart of what we do at Addition Financial. That’s why we require all new members to open a Share Savings Account to join. We have many savings account options, including accounts designed for kids and one to help families save for their next vacation. We also offer high-yield savings accounts that pay higher dividends for higher balances.

Credit Cards and Debit Cards

When you get an Addition Financial credit card, you can choose from several options including a student card, a rewards card and a low-rate platinum card to consolidate your debt. We also have a secured credit card for those who want to increase their credit scores. Debit cards are included with checking accounts and some savings accounts. UCF students, as well as those at Seminole State and Valencia College, can get debit cards with their school logos on them. We also have school spirit debit cards for high school students.


Loan options at Addition Financial include affordable car loans, personal loans and mortgages. We also provide private school loans and credit building loans because we believe that you shouldn’t need perfect credit to borrow money. Our mortgage options include both fixed and variable rate options, as well as jumbo loans and a special mortgage for first-time home buyers.

Retirement and Investment Services

Saving for retirement is an important goal for many of our Addition Financial members. We offer three different types of individual retirement accounts, including traditional IRAs, Roth IRAs and term share certificate IRAs. We also offer members access to our MEMBERS Financial Services program, where they can meet with a certified Financial Professional from LPL Financial.

Business Services

While most of our services are provided for individuals, we also provide several services for businesses in our membership area. These include business checking and savings accounts, business credit cards and business loans. We also provide merchant services for businesses that accept credit cards and payroll services.

Mobile and Online Banking

Online banking and mobile banking are both essential in today’s world, where we are increasingly dependent on technology. We have our own Addition Financial app where members can take advantage of mobile deposit, mobile transfers and more. We also have online banking services where members can set up automatic payments and transfers.

How Does Addition Financial Help Its Local Community?

As a state-chartered community credit union, we take giving back to the communities we serve seriously. There are three main ways we do this:

  1. Through the Addition Financial Foundation, we donate to local non-profit organizations that work on behalf of education, young people, underserved communities and economic development. In 2023, we gave to 13 such organizations as part of our Community Giving Class of 2023.
  2. We firmly believe in the value of giving back to our local community, which is why we actively donate our time to various organizations and individuals. At Addition Financial, we encourage our team members to engage in volunteer work, and as a token of our appreciation, we provide them with two Volunteer Time Off (VTO) days per year.
  3. We provide free financial education to help our community members manage their money and achieve their most important financial goals.

Community service shouldn’t be lip service. We dedicate ourselves every day to lifting up community members and providing them with the money, time and guidance they need to be successful.

Can Anyone Join Addition Financial or Are There Specific Membership Requirements?

We’ve mentioned that we serve a total of 24 counties in Central Florida, but what does that mean? Here’s what you need to know about our membership requirements.

Anyone who lives, works, attends school or vocational training, worships or is an alum of any college, university, or educational institution located in Orange, Osceola, Seminole, Lake, Alachua, Brevard, Duval, Flagler, Hernando, Highlands, Hillsborough, Indian River, Manatee, Marion, Martin, Okeechobee, Pasco, Pinellas, Polk, Sarasota, St. Johns, St. Lucie, Sumter or Volusia County may join. If you become a member of Addition Financial, your immediate family members are automatically eligible to join.

Once you’re a member, you’ll have access to the many benefits of membership. Here are some examples of what our members enjoy:

  • Access to advantageous interest rates on loans and generous dividend rates for savings accounts and even some checking accounts.
  • Discounts on TruStage auto insurance, life insurance, AD&D insurance and pet insurance.
  • A 5% member discount at Enterprise Rental Cars.
  • Cash rewards from Spectrum Mobile and T-Mobile when you add a line to your existing account.
  • Discounts on TurboTax and H&R Block tax software.
  • Discounts on Harlem Globetrotter tickets at Addition Financial Arena.

You’ll also get access to personal customer service by phone or at any one of our Addition Financial branches, which are located all over Central Florida. Our representatives are always happy to answer questions and help you make the most of your money.

One of the most important benefits of being an Addition Financial member is that you can be certain that you’ve chosen a financial institution that cares about you and your money. We’ve got our eyes on the future, so we’ll always be there to help you navigate new financial options and technology.

Join Addition Financial Today and Reap the Benefits of Membership

At Addition Financial, we’re more than just a place to keep your money. We think of our members as family. We’re here to listen, answer questions and provide the financial education and services you need to achieve your most important financial goals. 

Are you ready to join the Addition Financial family? Click here to read more about the benefits of membership and join today!

The content provided here is not legal, tax, accounting, financial or investment advice. Please consult with legal, tax, accounting, financial or investment professionals based on your specific needs or questions you may have. We do not make any guarantees as to accuracy or completeness of this information, do not support any third-party companies, products, or services described here, and take no liability or legal obligations for your use of this information.