A message
from our
CEO & Chairman

As we close the chapter on 2024 and look ahead to what’s next, the Chairman and I are honored to share Grow Financial’s annual report, which not only reflects our financial health but also tells the story of how we continue to fulfill our mission to serve people, not profit. We’re proud to convey how our organization brought that mission to life in extraordinary ways.

We began the year by opening our 26th store, in the West River area of Tampa. This neighborhood, long considered a banking desert, now has increased access to the resources and guidance needed to build financial security. Every new member we welcome in West River represents a step forward in growing equity and opportunity in an underserved part of our community.

This year also brought opportunities for us to stand beside our neighbors during difficult times. Following the devastating effects of Hurricanes Helene and Milton, Grow made our largest donation to date — a $1 million commitment to support local hurricane recovery efforts. Our contributions to Feeding Tampa Bay and the University Area Community Development Corporation are already helping provide meals, housing, clothing, transportation and ongoing recovery support to families across the region. These partnerships exemplify the power of what we can achieve together when we act with compassion and purpose.

In the spirit of growth and progress, we finalized plans to relocate our corporate headquarters to a vibrant new home in Ybor City. More than a move, this is a meaningful investment in one of Tampa’s most historic and culturally rich neighborhoods — a place where we see opportunity to grow alongside the community. Located within the innovative Gasworx development, our new space is being designed not just for the flexible and collaborative way we work today but also for how we want to show up as a neighbor and partner. By joining the fabric of Ybor City, we’re deepening our roots in Tampa and committing to the continued revitalization of an area full of potential and promise.

Throughout 2024, our dedication to serving people over profit remained at the center of our enterprise, and we worked diligently to ensure Grow continues to be a place where people come first — our members, our team members and the community.

Thank you for being part of our journey. We’re proud of what we’ve accomplished together this year and even more excited for what’s to come.

Thomas R. Feindt, CEO
Richard W. Reeder, Chairman

We Serve People,
Not Profit.®

Grow Financial is a not-for-profit credit union working for the benefit of our members, not for the pockets of corporate stockholders. We provide a comprehensive array of personal and business banking services to nearly 300,000 members, with 26 stores in West Central Florida and South Carolina.

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2024 Impact
by the Numbers

280,898

Total Members

50

States Members Reside In

$51,370,100

In Dividends Paid to Members

$3,500,000

In Fees Reduced or Eliminated

$1,043,286,200

In New Loans to Members

$44,945,300

In Loans to Support 313 Small Businesses

Explore the Moments That Made Us

1955

Founded on the Base

Tampa needed a financial institution to meet the needs of service members. That’s why a few ambitious civilian employees founded MacDill Air Force Base Federal Credit Union — in a broom closet!

1960s & 70s

Boom in the Bay

The Tampa Bay area saw booming population growth, including among veterans and retirees. As the area grew, so did we, opening our first stores beyond the base.

1980s & 90s

Open Doors & Opportunities

Changes to federal regulations enabled us to serve members beyond our traditional military affiliation, and we began to welcome members from all walks of life.

2007

New Name, Same Purpose

MacDill Federal Credit Union became Grow Financial, a name that reflects the essence of who we are and what we set out to do — make things grow.

2022

Strengthening Relationships

Now a certified Community Development Financial Institution, we’ve expanded our ability to provide financial services and support to underserved and low-income populations.

2024

Grow Opens in West River

No longer a banking desert, West River is now home to our newest store. We joined this community intentionally to help the area thrive by focusing on our mission to serve people, not profit.

2025

Preparing for a New HQ

After two decades in our existing headquarters building, we’re embarking on an exciting relocation to join the vibrant community of Ybor City!

We Make Things Grow

2024 was proof of what our purpose looks like in action. We welcomed new members, paid out more in dividends, cut fees, supported nonprofits and helped fund small business dreams. Behind each of these numbers is a story: a first-time homeowner, a thriving entrepreneur, a team member making a difference. That’s what we mean when we say we make things grow.

Grow Member

Markeshia's
Story

I first joined Grow Financial when my car dealership recommended your services to finance my second vehicle. From day one, the process was seamless — transparent terms, easy communication and a team that made me feel valued, not just like another account number. But what truly made me stay was the exceptional experience I had long after signing on the dotted line. You’ve earned my trust, and that’s why I’ve chosen to continue my financial journey with Grow. Thanks for being a partner that feels like family!

Grow Member

Jordan's
Story

My debit card was lost, and I needed to have it replaced. The same day I realized this, my father unexpectedly passed away. I was in complete shock and completely devastated but had to replace the card in order to pay bills. The team members at my store were so kind and compassionate in the situation. They made me a cup of coffee and sat with me until I felt calm and confident to drive home safely. I will never forget them.

Grow Member

Manuel's
Story

When I moved here to the Tampa area, I was looking for a good financial institution that I could trust. Everyone I spoke to told me that Grow Financial was the best and that they took care of the military family. After over 20 years with them, I have been very happy and satisfied with their growth. Thank you so much for taking care of us.

People, Communities, Money & Dreams

Enriching Our Members

Through Savings & Lending

Our members are the reason we’re here, so we make it a priority to empower them to save more, borrow smarter and stress less. By eliminating unnecessary fees, we helped members retain $3.5 million, and by issuing over $1 billion in new loans, we helped thousands of people purchase homes, start businesses, consolidate debt and fund life’s important moments. When our members grow, we grow.

Training, Empowering and Retaining Our Team Members

As The Third-Largest Credit Union In Tampa Bay

Our ability to serve starts with the strength of our team. We’re committed to creating a workplace where team members feel supported, valued and inspired. This commitment is reflected in a culture that’s consistently earned Top Workplace recognition for 14 consecutive years, thanks to the incredible people who show up every day to make a difference in the lives of our members.

Serving The Community

With time, Energy and Resources

Service is more than a word at Grow — it’s a core part of who we are. Every team member receives two paid volunteer days each year, and in 2024, we saw incredible participation and impact through more than 7,000 volunteer hours. Whether it was packing meals, mentoring students or volunteering at local shelters, our team brought their hearts to every cause. Together, we supported 43 nonprofit organizations and contributed over $1.7 million to help our community.

Standing Strong With Tampa Bay

After the devastation of Hurricanes Helene and Milton, we collaborated with two trusted organizations through a $1 million donation for recovery efforts. We partnered with Feeding Tampa Bay and the University Area Community Development Corporation (UACDC) based on their deep roots in the community and proven ability to respond in times of crisis.

With $750,000, Feeding Tampa Bay launched Regrow, a program built to provide financial assistance with rent, transportation, utilities, car insurance and household expenses. Meanwhile, the UACDC focused on long-term recovery by helping families regain stability in one of Tampa’s hardest-hit neighborhoods, with a $250,000 donation.

These partnerships reflect our ongoing commitment to stand with our community — not just in moments of crisis, but every step of the way.

Feeding Tampa Bay University Area Community Development Corporation