Grow Financial Federal Credit Union

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June 24, 2024

How Your Membership Makes a Difference: Grow’s Community Impact in 2023

At Grow, we’re not just about financial services. We’re here to make things grow — people, communities, money and dreams. Here’s a look at our 2023 Community Impact Report, a summary of how the credit union creates a positive impact on our communities.

Supporting Members Through Savings and Lending
Our members are at the heart of everything we do. Grow members benefit from lower fees and competitive rates on savings and loans. In 2023 alone, we returned $32,655,041 in dividends to our members, showing our commitment to putting money back in your pockets. From a lending standpoint, we issued new loans totaling $1,085,739,022, including auto loans, mortgages and personal loans, to help members grow their dreams.

Reducing Fees
We understand that every dollar counts. That’s why we’ve worked diligently to reduce or eliminate fees, saving members $2,500,000 in 2023 alone. This initiative is part of our ongoing effort to ensure you keep more of your hard-earned money.

Empowering Small Businesses
Small businesses are the backbone of the local economy. We’re proud to have supported 355 small businesses with $51,370,868 in commercial loans last year. These loans help local businesses grow, creating jobs and fostering economic development within our community. Want to support small business owners? Here are five ways you can support your local businesses.

Investing in Our Team
As the third-largest credit union in Tampa Bay, we take pride in investing in our 570 team members, who reside primarily in Florida and South Carolina and 16 other states. Our total economic contribution in salary and benefits amounted to $60,358,595, creating a ripple effect that benefits local economies.

We’re committed to creating a collaborative and rewarding work environment, recognized by 13 consecutive Top Workplace awards, with a focus on training, empowering and retaining team members. In 2023, we promoted 113 team members, fostering a culture of growth and development while retaining valuable talent and knowledge within the credit union.

Giving Back to the Community
We believe in giving back to the community, and one key pillar of our internal mantra is “Grow the Greater Good.” Our team members are passionate about volunteering, and in 2023, they served more than 4,767 hours supporting various causes, from youth education to animal welfare and food insecurity.

At the organization level, we supported 40 nonprofits with a total contribution of $511,125, reflecting our dedication to making a positive impact. Additionally, through our Round Up, Give Back program, Grow members donated $11,600 to local nonprofits, including the Humane Society of Tampa Bay and Friends of U.S. Military Families.

Growing Together
To our members, thank you for being a part of Grow. Your membership is more than just a financial relationship — it’s a collaborative effort toward building a better community. We couldn’t do what we do without you.

Not a member just yet? Open an account today to join us.

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