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P.O. Box 26043
Winston-Salem, NC 27114

Allegacy Federal Credit Union is headquartered in Winston Salem and is the 5th largest credit union in the state of North Carolina. It is also the 191st largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 304 employees and 102,791 members. Allegacy Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Anyone can join Allegacy at any time. Membership base consists of eligible employees and retirees of sponsor companies, immediate family members of existing members, household residents of existing members, residents of certain communities, and members of various associations. - See Details

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Reviews (3)

Avoid At All Costs

I had a backup account at Allegacy that was basically dormant. Over time, their monthly fees dropped the balance to a negative ($6). Their reaction? A $5 PER DAY fee because my account was in the negative. It wound up costing me $150+ to close this account because they didn't notify me for 27 days!! Ridiculously poor "customer" service, poor response from the person I spoke with at the branch. DO NOT recommend.

Account Policies

I was not happy with my experiences with Allegacy. We had a car loan arranged through a dealership, which we paid off early. Allegacy insisted at the payoff that we invest an additional $200 to keep the account open for future use. We were not planning on borrowing any more at that time, but we followed their advice and made the deposit. We immediately ran into issues. Allegacy immediately charged us a "fee" which brought the account below $200. Three months later we got a statement charging us a "service fee" for not keeping the $200 balance in the account. I made a personal visit to the Allegacy office to get this corrected. I thought this fixed the problem.

Two years later I have closed the account. Allegacy billed me for a $5.00 dormancy fee every three months, so as of July 1, 2012 my account had shrunk to about $182. At that point I have closed the account.

I have been a member of two other credit unions for over 50 years and this is the only credit union that has charged me to keep my money. Needless to say any interest I accrued was offset by the fees charged. I would recommend that you not use Allegacy for your credit union.

Friendly and Fast

Allegacy is an excellent cried union because they still have the personal touch that I like to have where I bank. They also waive the fee if you know someone, you just have to tell them and they look up their name. When I opened my account, the gentleman who helped me spent a lot of time chatting and getting to know me. The actual opening of my account took minutes and I received my first statement and debit card within a couple days. I was so impressed with this as well as the customer service for the internet. I had a problem and they were extremely helpful when I had to call. There website is clean and easy to navigate. I have been very pleased with all my interaction with Allegacy.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Allegacy Federal Credit Union had $17.93 million in non-current loans and owned real-estate with $111.05 million in equity and loan loss allowances on hand to cover it. This gives Allegacy Federal Credit Union a Texas Ratio of 16.14% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Allegacy Federal Credit Union decreased dramatically from 24.00% as of March 31, 2013 to 16.14% as of March 31, 2014, resulting in a positive change of 32.75%.This indicates that the balance sheet and financial strength for Allegacy Federal Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Allegacy Federal Credit Union has increased its total deposits by $48.71 million, resulting in 5.55% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Allegacy Federal Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Allegacy Federal Credit Union has $1.1 billion in assets with $111.05 million in equity, resulting in a capitalization level of 10.10%, which is above average.

Institution Statistics

NCUA #24438
Year Chartered1967
Primary Regulator
Assets and Liabilities
Assets$1.10 billion
Loans$785.46 million
Deposits$926.18 million
Equity Capital$102.93 million
Loan Loss Allowance$8.12 million
Unbacked Noncurrent Loans$7.07 million
Real Estate Owned$10.86 million
Historic Data - March 2013
Assets$1.04 billion
Equity Capital$96.04 million
Loan Loss Allowance$9.04 million
Unbacked Noncurrent Loans$7.07 million
Real Estate Owned$15.77 million
Profit Margin - Quarterly
Net Interest Margin1.04%
Return on Assets0.76%
Return on Equity8.15%
Interest Income$9.44 million

Always verify rates and promotions with the bank or credit union. We are not Allegacy Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Allegacy Federal Credit Union Savings Account Rates

0.20%$10k-Health Savings Account (HSA)
0.15%--Roth IRA
0.15%--Cloverdell Education Savings IRA
0.10%--Daily Access
0.10%$2k-Holiday Club
0.10%$2k-Vacation Club

Allegacy Federal Credit Union Money Market Rates

0.30%$100k-Relationship Money Market Account

Allegacy Federal Credit Union Checking Account Rates

0.70%-$25kSmartRate Checking - Qualifying
0.10%$10k-Allegacy Preferred Checking
0.05%--SmartRate Checking - Non Qualifying

Allegacy Federal Credit Union CD Rates

0.95%$100k-5 Year Regular Certificate
0.85%$100k-3 Year Regular Certificate
0.65%$100k-2 Year Regular Certificate
0.55%$100k-18 Month Regular Certificate
0.40%$100k-12 Month Regular Certificate
0.35%$100k-9 Month Regular Certificate
0.25%$100k-6 Month Regular Certificate
0.10%--3 Month Regular Certificate

Allegacy Federal Credit Union IRA Rates

1.00%--5 Year IRA Certificate
0.95%$100k-3 Year IRA Certificate
0.75%$100k-2 Year IRA Certificate
0.65%$100k-18 Month IRA Certificate
0.50%$100k-12 Month IRA Certificate
0.45%$100k-9 Month IRA Certificate
0.25%$100k-6 Month IRA Certificate
0.10%--3 Month IRA Certificate

Allegacy Federal Credit Union has 22 locations. Click to view all Allegacy Federal Credit Union locations.