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.
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.
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:
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.
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 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 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.
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.
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.
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.
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.
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:
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.
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:
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!