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Southern Credit Unions Rise Again in Great Card Battle

Southern Credit Unions

Southern credit unions offer single digit interest rates and are nearly devoid of fees, except for reasonable late payment fees. Besides the extremely competitive pricing, nearly all credit unions in the South offer a rewards program and/or generous unlimited cash-back programs.

From the huge Suncoast Credit Union in Florida to the tiny Bayer Heritage Federal Credit Union in West Virginia, all offer super low rates, including fixed interest credit card rates under 10%. Keesler Federal Credit Union in Mississippi offers an unbelievable, on-going rate of prime +0%.

Delta Community Credit Union in Georgia offers credit limits as high as $50,000. Navy Federal Credit Union in Virginia offers new cardholders a $250 bonus cash and earns 1.5% cash-back. Redstone Federal Credit Union offers 10,000 bonus points, worth $150, to new cardholders.

Southern Credit Unions Hospitality

Also of note, Barksdale Federal Credit Union in Louisiana, offers a 1.99%, 12-month intro APR. The card is totally free of all fees except for a $10 late payment fee.

The twelve states in the Southern credit card market include Florida, Georgia, South Carolina, Tennessee, Virginia, North Carolina, Kentucky, Louisiana, Alabama, West Virginia, Arkansas, and Mississippi with a total population of 88 million.

Other U.S. Regions

Consistent with CardTrak.com’s 2019 credit card credit union surveys of the Mid-Atlantic, Pacific Coastal, Southwest, Rocky Mountain, New England regions, the credit unions in the Southern states, offer incredible deals compared to the nation’s largest issuers. Unlimited cash-back, and little, if any, annual fees or nuisance fees, plus the advantage of a local personal contact, is a winning combination for U.S. consumers, says Robert McKinley, Senior Analyst for CardTrak, CardFlash and CardData.

Florida

Suncoast Credit Union, based in Tampa with more than 800,000 members, offers five personal credit cards and one business credit card. The most popular personal credit card is the Suncoast Rewards Platinum VISA credit card.

The Suncoast Rewards Platinum VISA credit card offers a fixed interest rate as low as 9.9% and no annual fee. The cash advance interest rate is as low as 11.9% and a balance transfer interest rate as low as 11.9%. Credit limits range from $500 to $30,000.

There are no fee for balance transfers, cash advances or convenience checks.

Suncoast also guarantees the interest rate will not change due to a late payment.

Suncoast Credit Union also offers:

Suncoast Rewards Platinum VISA Credit Card

Suncoast Classic Starter VISA Credit Card

Suncoast Student Classic VISA Credit Card

Suncoast Rewards Share Secured VISA Credit Card

Florida College Rewards Platinum Visa Credit Card

Suncoast Business Platinum VISA

Suncoast Credit Union (formerly known as Suncoast Schools FCU) and the largest credit union in Florida, has more than $10 billion in assets.

Georgia

Delta Community Credit Union, based in Atlanta with more than 400,000 members, offers one personal credit card and one business credit card. The most popular personal credit card is the Delta Community Visa Credit Card.

Delta Community Visa Platinum Rewards Credit Card offers points based on purchases redeemable for cash back, retail gift certificates or dining gift cards.

New cardholders earn 2,000 bonus points and 1,000 Reward Points after the purchases. Additionally, there is a 1.5% Cash Rebate for balances transferred within the first 90 days of account opening.

All cards carry no annual fee and credit lines run up to $50,000.

Interest rates are risk-based, variable and range from 11.50% to 15.50% for purchases, balance transfers and cash advances. There is $3.00 cash advance fee and a $25 late payment fee.

Delta Community Credit Union also offers a Visa Business Platinum Rewards Credit Card.

Delta Community Credit Union is the largest in Georgia with assets of nearly $6 billion.

South Carolina

Founders Federal Credit Union, based in Lancaster with more than 200,000 members, offers three personal credit cards and one business credit card. The most popular personal credit card is the Founders Federal Credit Union Platinum Visa Credit Card.

The Founders Federal Credit Union Platinum Visa Credit Card offers rates as from 11.85% to 17.90% for purchases and cash advances. The APR for balance transfers range from 6.85% to 10.85% for the first 12 months.

All rates are variable and risk-based. There is no annual fee or other fees, except a $32 late payment fee.

The card includes participation in the CU Rewards Program to earn points.

Founders Federal Credit Union also offers the:

Preferred No Frills Visa Credit Card

Visa Signature Credit Card

Business Platinum Visa Credit Card

The Founders Federal Credit Union is the largest in South Carolina with about $2.5 billion in assets.

Tennessee

Eastman Credit Union, based in Kingsboro with more than 200,000 members, offers five personal credit cards. The most popular personal credit card is the Eastman Credit Union Platinum Preferred Fixed Visa Credit Card.

The ECU Platinum Preferred Fixed Visa Credit Card offers a fixed 9.90% interest rate. Cardholders earn at least one point for each dollar you charge. Points can be cashed in for merchandise, gift cards, airline tickets, or other travel discounts at ECU Credit Card Rewards.

There are no fees, except for a $25 late payment fee.

Eastman Credit Union also offers:

ECU Cash Rewards Visa Credit Card

ECU Classic Visa Fixed Credit Card

ECU Classic Visa Variable Credit Card

ECU Secured Visa Credit Card

Eastman Credit Union is the largest credit union in Tennessee with assets of nearly $5 billion.

Virginia

Navy Federal Credit Union, based in Vienna with nearly 9 million members, offers seven personal credit cards and two business credit cards. The most popular personal credit card is the Navy FCU Cash Rewards Visa Credit Card.

Navy FCU Cash Rewards Visa Credit Card earns 1.5% for purchases with interest rates ranging from 11.65% to 18.00%. New cardholders receive a special $250 Bonus Cash.

Navy Federal Credit Union also offers:

Navy FCU World Mastercard Cash Rewards

Navy Federal More Rewards American Express Card

Visa Signature Flagship Rewards Credit Card

Navy FCU Go Rewards Mastercard

Navy FCU Platinum Mastercard

Navy FCU nRewards Secured Mastercard

Navy FCU Visa Business

Navy FCU Mastercard Business

Navy Federal Credit Union is the largest in Virginia and has more than $100 billion in assets.

North Carolina

State Employees Credit Union, based in Raleigh with nearly 2.5 million members, offers one personal credit card. The personal credit card is the State Employees Credit Union Visa Credit Card.

The State Employees Credit Union Visa Credit Card offers a 9.25% variable APR for purchases, cash advances, and balance transfers.
There are no fees, except for a $5 late payment fee.

State Employees Credit Union is the largest in North Carolina has more than $40 billion in assets.

Kentucky

Fort Knox Federal Credit Union, based in Radciff with more than 100,000 members, offers three personal credit cards. The most popular personal credit card is the Fort Knox Federal Credit Union Low Rate Classic Visa Credit Card.

The Fort Knox Federal Credit Union Low Rate Classic Visa Credit Card offers interest rates as low as 8.99% and credit limits up to $25,000.

The Fort Knox Federal Credit Union also offers:

Fort Knox Federal Credit Union Visa Platinum

Fort Knox Federal Credit Union Student Visa

Fort Knox Federal Credit Union is the largest in Kentucky with more than $1.6 billion in assets.

Louisiana

Barksdale Federal Credit Union, based in Bossier City with more than 125,000 members, offers three personal credit cards. The most popular personal credit card is the Barksdale Federal Credit Union Visa 1.99 Platinum Credit Card.

The Barksdale Federal Credit Union Visa 1.99 Platinum Credit Card offers a 1.99% introductory APR for 12 months. The rate rises to 9.9% or 12.9% based on creditworthiness. There is no annual fee or any other fees. There is a $10 late payment fee.

Barksdale Federal Credit Union also offers:

Barksdale Federal Credit Union Visa Platinum

Barksdale Federal Credit Union Platinum Secured

Barksdale Federal Credit Union is the largest credit union in Louisiana with assets of about $1.5 billion.

Alabama

Redstone Federal Credit Union, based in Huntsville with more than 400,000 members, offers two personal credit cards. The most popular personal credit card is the Redstone Federal Credit Union Visa Signature.

The Redstone Federal Credit Union Visa Signature Credit Card offers a 0% APR for six months on balance transfers. Rates range from 9.75% to 13.25% and are variable and based on risk.

There is a 10,000 bonus points when spending $3,000 in the first 90 days. Cardholders earn one point for every dollar charged with no limit.

There is no annual fee or other fees.

Redstone Federal Credit Union also offers the:

Redstone Federal Credit Union Visa Traditional Credit Card

Redstone Federal Credit Union is the largest credit union in Alabama with assets of more than $5 billion.

West Virginia

Bayer Heritage Federal Credit Union, based in Proctor with about 35,000 members, offers two personal credit cards. The most popular is the Bayer Heritage Federal Credit Union Visa Signature Credit Card.

Bayer Heritage Federal Credit Union Visa Signature Credit Card offers rates as low as 8.75% along with no balance transfer fee, no cash advance fee, and no annual fee. The APR also applies to cash advances.

Bayer Heritage Federal Credit Union also offers:

Bayer Heritage Federal Credit Union Visa Secured Credit Card

Bayer Heritage Federal Credit Union is the largest credit union in West Virginia with assets of more than $500 million.

Arkansas

Arkansas Federal Credit Union, based in Jacksonville with more than 100,000 members, offers three personal credit cards and one business credit card. The most popular is the Arkansas Federal Credit Union Platinum Secure Mastercard.

The Arkansas Federal Credit Union Platinum Secure Mastercard offers no annual fee, no balance transfer fee, and no over-limit fee.

The interest rate is 18%.

Arkansas Federal Credit Union also offers

Arkansas Federal Credit Union Platinum Classic Mastercard

Arkansas Federal Credit Union Platinum World Mastercard

Arkansas Federal Credit Union Business Mastercard

Arkansas Federal Credit Union is the largest credit union in Arkansas with assets of more than $1 billion.

Mississippi

Keesler Federal Credit Union, based in Biloxi with more than 200,000 members, offers three personal credit cards and one business credit card. The most popular is the Keesler Federal Credit Union Visa Signature Credit Card.

The Keesler Federal Credit Union Visa Signature offers a 0% interest rate for the first 12 months on purchases and balance transfers. After 12 months, rates start as low as the actual prime rate, depending upon your credit.

The card also earns 2% cash back or 3 points for every $1 spent; plus a $100 credit with $1,500 in purchases within the first 90 days of having the card.

Keesler Federal Credit Union also offers:

Keesler Federal Credit Union Visa Rewards

Keesler Federal Credit Union Visa Classic

Keesler Federal Credit Union Visa Business

Keesler Federal Credit Union is the largest credit union in Mississippi with assets of nearly $3 billion.

Regional Credit Union 2019 CardTrak.com Surveys

Mid-Atlantic Credit Union Credit Cards are Piranhas

New England Credit Union Cards Low APRs & Fee Free

Pacific Coastal CU Credit Cards – Fee Free w/Goodies

Southwest CU Credit Cards are Simple and Cheap

Rocky Mountain Credit Union Credit Cards

Credit Union Attractions

About 20% of U.S. Millennials aged 18-24 say they use credit unions as their primary financial institution attracted by low and transparent fee structures and better interest rates. Credit card rates are also significantly lower too, based on CardTrak.com research.

The FICO survey showed the number one reason that consumers leave their primary financial institution is the perception of high fees. Of those consumers who have switched institutions, 49% listed high fees as the top reason. For Millennials, fees are still the number one reason for switching, followed by poor customer service or ATM/branch convenience issues.

SOURCES: RAM Research; CardData; CardTrak; CardFlash; Bankcenter; CardBuzz; PYVNTS; PYRPTS; Ruebud Media; Red 3 Media; The Cardworthy Company; Robear’s List