Tropical Financial Celebrates 85th Anniversary with Special Employee Event

Miramar, Fla. – Tropical Financial Credit marked its 85th anniversary with an employee event on December 9 at the Signature Grand in Davie. The credit union officially turned 85 years old in 2020, but the pandemic put planned celebrations on hold.    

“Even though the official anniversary was last year, there was no way were going to let this major milestone pass without a big celebration,” said Richard Helber, president and CEO.  “It was a great time to reflect on all that we have accomplished since our humble beginnings.”  

On March 13, 1935, 50 Southern Bell telephone company workers pooled together $800 of their hard-earned money to make loans to one another. Miami Bell System Employees Credit Union, then just the second credit union charted in South Florida, was eventually renamed to Tropical Financial Credit Union.  And from that modest start, the co-op has grown into one of South Florida’s most successful credit unions with $949 million in assets and more than 65,000 members.   

“Fundamentally, we are doing the same thing now as those founding members set out to do four-plus generations ago, but on a much larger scale,” said Helber who took over as CEO in 2010.  “Helping our members achieve their financial goals is and always will be our mission.” 

In the early 2000s, the credit union widened its field of membership from Southern Bell employees to anyone who lives or works in Miami-Dade, Broward, Palm Beach or Sarasota counties. The charter was amended again in 2015 to add five more counties in Southeast Florida. In 2017, Tropical Financial added new members when it merged with a smaller credit union whose members primarily came from Office Depot, The Miami Herald, Macy’s and the Kansas City Star.  

“We are proud of what we accomplished since 1935, but in the era of digital and mobile banking we have to work hard each day to remain relevant and competitive,” Helber said. “We want to stay true to our roots while making the necessary investments in technology to stay ahead of the curve.”  

With more people doing their banking on their smartphones, Tropical Financial re-imagined its branch network, creating more efficient space with fewer drive-thrus, and more iPads and flat-screen TVs in the lobbies.    

Still, the credit union prides itself on providing members with personal, friendly service and always the asking the question, “What can we do to improve our members’ financial well-being?”  

“Our top priority is to make financially sound decisions that have only our members’ best interest in mind,” said Rick Wisniewski, chairman of the board of directors. “As long as we stay true to that mission, we will remain successful for another 85 years and longer.” 

Based in Miramar, Florida, Tropical Financial Credit Union is a not-for-profit financial institution whose deposits are federally insured. Anyone who lives or works in Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Lee, Collier, Hendry and Sarasota Counties is eligible to join. Tropical Financial Credit Union was formed in 1935 by employees of the former Southern Bell with just a few hundred dollars and has grown to $949 million in assets as of July 31, 2021. For more information, visit www.tropicalfcu.com.