Credit union expands virtually

NAPLES — Miramar-based Tropical Financial Credit Union is expanding to Collier, Hendry and Lee counties with an online presence only.

The credit union, with more than $580 million in assets, is expanding into the three counties plus Martin and St. Lucie counties on the east coast. Until now, the credit union served only members in Broward, Miami-Dade and Palm Beach counties.

“The time was right to reach outside of the tri-county area,” says Richard Helber, president and CEO of Tropical Financial, in a statement. “After doing our research, we determined that consumers in Southwest Florida and on the Treasure Coast who are interested in joining a credit union don't have a whole lot of options.”

Tropical Financial will seek prospective members online and has no plans to open any branches in Southwest Florida.

“Once they become a member, they'll be able to open a checking or savings account, apply for a loan or credit card, or conduct any other transaction they could do in a branch from their mobile device utilizing our highly rated mobile app, or home computer,” says Amy McGraw, vice president of marketing, in a statement. “They will get to enjoy the full credit union experience, but only virtually.”