2 star ratingAverage User Rating:
2 star rating based on 3 reviews.

Apple Federal Credit Union

Apple Federal Credit Union Locations
4029 Ridge Top Road
Fairfax, VA 22030
703-788-4800
www.applefcu.org



Apple Federal Credit Union is headquartered in Fairfax and is the 7th largest credit union in the state of Virginia. It is also the 111st largest credit union in the nation. It was established in 1956 and as of September of 2011, it had grown to 232 employees and 120,386 members. Apple Federal Credit Union's savings rates are 5X the national average, and it boasts a 5-star health rating.

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Beware of Apple's fees.  They have fees for things you normally would not expect, like $5 fee for external ACH.

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See Rates for: Checking | Savings | Money Market | CD | IRA

Apple Federal Credit Union Checking Account Rates

ApyMinMaxProduct
1.50%-$20kInvestors Checking
0.50%--Advantage Checking

Apple Federal Credit Union Savings Account Rates

ApyMinMaxProduct
3.20%-$1,501eXtras Student Savings
2.50%--Education Super Saver
2.00%--Summer Pay
0.55%$100k-IRA Share
0.55%$100k-Roth IRA Share
0.55%$100k-CESA Share
0.40%--Club Account
0.20%--Regular Savings

Apple Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.55%$100k-Super Money Market
0.45%$50k-Money Market

Apple Federal Credit Union CD Rates

ApyMinMaxProduct
2.70%$500-120 Month Share Certificate
2.10%$500-84 Month Share Certificate
1.55%$50k-Jumbo 60 Month Share Certificate
1.50%$500-60 Month Share Certificate
1.20%$500-48 Month Share Certificate
0.85%$50k-Jumbo 36 Month Share Certificate
0.80%$500-36 Month Share Certificate
0.70%$500-24 Month Share Certificate
0.65%$50k-Jumbo 12 Month Share Certificate
0.60%$500-12 Month Share Certificate
0.60%$500-15 Month Share Certificate
0.55%$500-36 Month Step Up Share Certificate
0.40%$500-6 Month Share Certificate

Apple Federal Credit Union IRA Rates

ApyMinMaxProduct
2.70%$500-120 Month IRA Certificate
2.70%$500-120 Month Roth IRA Certificate
2.70%$500-120 Month CESA Certificate
2.10%$500-84 Month IRA Certificate
2.10%$500-84 Month Roth IRA Certificate
2.10%$500-84 Month CESA Certificate
1.55%$50k-Jumbo 60 Month IRA Certificate
1.55%$50k-Jumbo 60 Month Roth IRA Certificate
1.55%$50k-Jumbo 60 Month CESA Certificate
1.50%$500-60 Month IRA Certificate
1.50%$500-60 Month Roth IRA Certificate
1.50%$500-60 Month CESA Certificate
1.20%$500-48 Month IRA Certificate
1.20%$500-48 Month Roth IRA Certificate
1.20%$500-48 Month CESA Certificate
0.85%$50k-Jumbo 36 Month IRA Certificate
0.85%$50k-Jumbo 36 Month Roth IRA Certificate
0.85%$50k-Jumbo 36 Month CESA Certificate
0.80%$500-36 Month IRA Certificate
0.80%$500-36 Month Roth IRA Certificate
0.80%$500-36 Month CESA Certificate
0.70%$500-24 Month IRA Certificate
0.70%$500-24 Month Roth IRA Certificate
0.70%$500-24 Month CESA Certificate
0.65%$50k-Jumbo 12 Month IRA Certificate
0.65%$50k-Jumbo 12 Month Roth IRA Certificate
0.65%$50k-Jumbo 12 Month CESA Certificate
0.60%$500-12 Month IRA Certificate
0.60%$500-15 Month IRA Certificate
0.60%$500-12 Month Roth IRA Certificate
0.60%$500-15 Month Roth IRA Certificate
0.60%$500-12 Month CESA Certificate
0.60%$500-15 Month CESA Certificate
0.55%$500-36 Month Step Up IRA Certificate
0.55%$500-36 Month Step Up Roth IRA Certificate
0.55%$500-36 Month Step Up CESA Certificate
0.40%$500-6 Month IRA Certificate
0.40%$500-6 Month Roth IRA Certificate
0.40%$500-6 Month CESA Certificate

Rates updated: 2/10/2012

Data for Q3 2011


Institution Statistics


APPLE
NCUA #11307
BankRate ReportView
Year Established1956
Employees232
Primary Regulator

Assets and Liabilities

Assets$1.38 billion
Loans$946.29 million
Deposits$1.11 billion
Equity Capital$131.86 million
Loan Loss Allowance$15.18 million
Unbacked Noncurrent Loans$4.85 million
Real Estate Owned$2.80 million

Historic Data - September 2010

Assets$1.29 billion
Equity Capital$118.28 million
Loan Loss Allowance$15.91 million
Unbacked Noncurrent Loans$6.05 million
Real Estate Owned$2.54 million

Profit Margin - Quarterly

Net Interest Margin3.57%
Return on Assets0.88%
Return on Equity9.27%
Interest Income$48.06 million
Non-Interest Income$12.26 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Apple Federal Credit Union had $7.64 million in non-current loans and owned real-estate with $147.04 million in equity and loan loss allowances on hand to cover it. This gives Apple Federal Credit Union a Texas Ratio of 5.20% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Apple Federal Credit Union decreased slightly from 6.40% as of September 30, 2010 to 5.20% as of September 30, 2011, resulting in a positive change of 18.73%.This indicates that the balance sheet and financial strength for Apple Federal Credit Union has improved slightly in recent periods.
Deposit Growth4
In the past year, Apple Federal Credit Union has increased its total deposits by $52.2 million, resulting in 4.94% 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 Apple Federal Credit Union has shown is above average.
Capitalization4
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. Apple Federal Credit Union has $1.38 billion in assets with $147.04 million in equity, resulting in a capitalization level of 10.62%, which is above average.
Write Review

Nice People And Great Rates
4 stars - techmaniac - Wednesday, January 11, 2012 - 8:12 AM

I like the young lady that greets me each time I enter my branch, and the nice young man who handles my money.  They are professional and always ask about my children like a good neighbor. 

Beyond the personal service, I find that they have great rates on car loans (have 2 with them) and mortgages.  It does cost me $5 a month to have money transferred to my daughter, but other than that the checking account is FREE!  I'm not sure what the other reviewer is doing that gets so many fees.  The ATMS are FREE to use, they give cashiers checks for FREE and I can always talk to a counseler about how to manage my money.

 

4

Poor Service And FEES GLORE
1 stars - hardingpa - Tuesday, January 10, 2012 - 4:16 PM

Wish there was a rating selction for "0" stars.

Be ready for crazy fees on everything.  4-6 day holds on all deposits over $500 even if you have thousands above your deposit in your account.  If you have one deposit of 2 checks with a total over $500, you'll have a 4-6 day hold.   I’ve deposited these checks for over 5 years when this was a local FCU without a hold.  Now Apple puts a hold on the check because you walked into the branch.

Want to transfer funds to another bank?  Well there is a huge fee for that.  Receive electronic transfers from other banks; there is a hold on that.

Have more than one account (i.e., personal, business, joint, etc), you can only have one bill payee account per SSN#.  This makes it really difficult to address your business tax needs. 

So you want to talk to someone because something isn't right with your account?  Good Luck with that!  Call that local number, enter your account number, enter your pass code, listen to this huge menu selection, finally press "0" for operator, get music, then a ring, cool, your call has been transferred.  Then you discover it’s a recording asking for the very same info again, enter your account number again, enter your pass code again... it’s a joke, you’re in a loop never to reach a sole… until you call the 800#.  Now that you have that real "person" they are not authorized to help you because you are to stupid to have a checking account, "please bring your copy to our branch office" to discuss this".

This place is a mess

4

Terrible Customer Service - Don't Expect Any Competence
1 stars - idajade1124 - Sunday, January 22, 2012 - 2:48 PM

If I could give them a 0, I would.

Upon purchasing a used vehicle in Sept. 2010, we were instructed to use AFCU for our loan. We were approved without issue and offered a decent interest rate. The staff in office was super friendly and courteous.

It's been downhill from there.

We purchased a home awhile ago now and as a normal moving procedure went to transfer our cars registration. My car went extremely smooth with a bank we used to have in PA, my husbands car; however, has been a nightmare.

WV DMV asks you to fill out a paper with the lien holder's information and fax number for them to request title. I called AFCU and they instructed me to deposit $20.00 into our account we had opened to take out a loan. Easy enough. I set up the transfer with our local bank, which took a few days, but no biggie.

I waited a few weeks and decided to call my DMV since I had yet to hear they received the title. They had not. So I called AFCU and they proceeded to tell me it is held by a 3rd party and it would take 30 days. So I waited some more.

I let the 30 days pass and forgot to call until about a week after that. DMV still had received nothing. I called AFCU again and proceeded to get the first of many "runaround" calls.

I got a different answer every time I called, but according to the majority it should only be a few more weeks, the 3rd party company "must be" backed up. Okay, fine.

Can you see where this is going? Still no title received by the DMV. I call AFCU AGAIN and finally was able to get to someone who knew what they were talking about. They instructed me that the reason I had yet to receive it was because I had not deposited enough into the bank account..it needed to be $25.00 not $20.00 because there needs to be $5.00 in the account at all times to be in "good-standing". Well that's nice to know NOW!

So by this time we had switched to another bank, so I had to set up THAT account to transfer the $5.00. Which I did. They instructed me that it would STILL take 30 days. Fine.

Guess what? It's been almost 60 days if not more and I am STILL without title.

If any AFCU customer service sees this, please expect a ton of phone calls for the next week+ until the DMV has my title. I am tired of not driving my car because of your incompetence!! Get your **** together!!    

3