Apple Federal Credit Union is a Virginia-based credit union that offers personal and business banking solutions, investment and insurance planning, and specific products and benefits designed for teachers and students.
Apple FCU offers savings, checking, money market, Certificate, and IRA accounts on its personal banking side. The credit union’s fee-free student checking account offers reward points for using its free check card and also comes with a limited number of non-Apple ATM transactions. Another checking account offer is dividend bearing and comes equipped with a free box of checks each year, a limited amount of non-Apple ATM transaction fee reimbursements, and no monthly fee when a minimum balance requirement is met. Several savings account options seek to meet various members’ needs and include a basic, student, and teacher savings account. The student savings account comes with a high dividend rate for balances up to a certain amount, and the teachers’ savings account is designed to help teachers maintain a regular income through the summer months when they may not receive a paycheck. Money Market accounts offer higher dividend rates when higher balances are achieved and provide convenient access to funds. Certificates and IRA Certificates are available in term lengths from 6 to 120 months and have been featured on DepositAccounts.com in the past.
Apple FCU online banking is a sophisticated system that offers comprehensive account management services, including fund transfers, bill pay, rewards activation, scan deposits, and money management software for budgeting purposes. The credit union’s mobile banking apps make it convenient and easy to accomplish the aforementioned tasks from select smartphones or tablet devices. Apple FCU is partnered with several ATM networks, including Alliance One, CO-OP, and MoneyPass, making it easy for members to gain access to their funds.
Apple Federal Credit Union was chartered in 1956 after a group of educators from the Fairfax County Public School system came together to organize a teacher-focused financial cooperative. The credit union is headquartered in Fairfax, Virginia, and serves its members through multiple branches located across several states. Apple FCU also maintains a blog that publishes money lessons and tips for saving.
Apple FCU is a "multiple bond" credit union serving the educational community and offering membership to many different organizations. Our largest membership consists of school systems in Northern Virginia: 1. Faculty, Staff, Students and Immediate Families of Fairfax County Public Schools, Falls Church City Schools, Loudoun County Public Schools, Manassas City Public Schools, Manassas Park Public Schools, Prince William County Public Schools and Stafford County Public Schools 2. Faculty, Staff, Students and Alumni of George Mason University, Northern Virginia Community College and Shenendoah University 3. Faculty and Staff of City of Winchester Public/Private Schools Employees of members of Select Employment Group (SEG). Also eligible to join are Spouses of persons who died while a member of this credit union; Employees of this credit union; persons retired as pensioners or annuitants from the above employment; VOLUNTEERS; members of their immediate families or household; and organizations of such persons. - See Details
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.
I have banked with Apple FCU for over 6 years now, and I have all of my loans, credit cards, and even do my taxes through their Apple Services office at the main headquarters. Everyone I have dealt with has been extremely kind, friendly, and helpful at their main branch. I am not sure why everyone else has been posting about the number of fees Apple has. I banked with BB&T for over 8 years, and let me tell you about fees. Every time I have gotten an overdraft fee at Apple, I call into their Call Center and they ALWAYS refund the fee for me as a courtesy, which is awesome! BB&T never refunded one of my fees! I use Apple's Advantage Checking and since I have my direct deposit go into my account, it does not cost me anything. No maintenance fees or anything. Also, they gave me two free boxes of custom checks when I opened my account, which pretty much will last me forever. Not to mention I never get charged for ATM fees, no matter what type of ATM I use! ATM fees are covered entirely for my checking account, I love it! I doubt there are any other banks or credit unions that offer all of these benefits to their account holders. At the end of the day, I bank with Apple because they make me feel like I am taken care of anytime I need their help. Their rates are up and down, sometimes they are great and other times they are not so good. But I have had accounts with other banks and I can guarantee that you will never get the kind of service and attention that you will get from banking with Apple. I am looking forward to getting a mortgage and my first home soon, and when the time comes there is no question where I will be getting my loan from!
I have moved to California, but still have never found such a great banking institution as Apple Federal Credit Union. It seems like with all the big banks, banking has lost its touch with the tellers and branch managers knowing you personally. I have to say even though I'm in California and banking in Virginia can be tricky, I would trade this bank for anything in the world. The branch manager Manjit, I opened my account with years ago in Centreville, still remembered me and my children. When I was in a pinch and needed assistance she came through with flying colors and is such an amazing person. 5 stars from me!
I became a member of Apple 6 years ago when I switched from the credit union I had in college because they were too far away and too small. I got my first car loan with a credit union after a really bad experience with the dealership and locals banks, so I wanted to do business with another credit union when I switched. I was so happy to find Apple!
I have had my direct deposit into a special FREE checking account there for years, and I get free bill pay and checks. I also get a modest interest rate back for my balance, which I think is 0.4% right now, but better than I can get anywhere else that I've found. I read the reviews about the check holds, and I have had that experience in the past, but when I talked to a manager, she released the hold because of my history with Apple. I think the holds are standard for all banks and credit unions, but if you talk to the right person you can usually get it waived.
I recently refinanced my car for 72 months for 2.74%! This ended up saving me almost $50 a month, and they let me go 3 months until my first payment, which was right at Christmas.
I also have a mortgage with Apple. The only thing I don't have is their credit card. They have asked me to get their card a few times (when I refinanced my car and when I got a line of credit for my account), but I'm happy with my Bank of America rewards. They told me they would have the same rewards soon, so I might check it out.
Overall, I've been very happy and would recommend. I already recommended to my dad, my sister, and my uncle, who all have accounts now.
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 December 31, 2013 Apple Federal Credit Union had $10.38 million in non-current loans and owned real-estate with $185.66 million in equity and loan loss allowances on hand to cover it. This gives Apple Federal Credit Union a Texas Ratio of 5.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Apple Federal Credit Union experienced no significant changes from 5.55% as of December 31, 2012 to 5.59% as of December 31, 2013, resulting in a negative change of 0.75%. This indicates that the balance sheet and financial strength for Apple Federal Credit Union has had no significant changes in recent periods.
In the past year, Apple Federal Credit Union has increased its total deposits by $130.87 million, resulting in 9.38% 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 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. Apple Federal Credit Union has $1.85 billion in assets with $185.66 million in equity, resulting in a capitalization level of 10.06%, which is above average.
|Assets and Liabilities|
|Equity Capital||$165.75 million|
|Loan Loss Allowance||$19.91 million|
|Unbacked Noncurrent Loans||$8.36 million|
|Real Estate Owned||$2.02 million|
|Historic Data - December 2012|
|Equity Capital||$148.59 million|
|Loan Loss Allowance||$19.38 million|
|Unbacked Noncurrent Loans||$8.36 million|
|Real Estate Owned||$1.29 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.7%|
|Return on Assets||0.68%|
|Return on Equity||7.59%|
|Interest Income||$68.63 million|
Always verify rates and promotions with the bank or credit union. We are not Apple Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|3.15%||-||$1,500||eXtras Student Savings|
|2.00%||-||-||Education Super Saver|
|0.35%||$100k||-||Roth IRA Share|
|0.35%||$100k||-||Super Money Market|
|2.60%||$500||-||120 Month Share Certificate|
|2.20%||$500||-||84 Month Share Certificate|
|1.55%||$50k||-||Jumbo 60 Month Share Certificate|
|1.50%||$500||-||60 Month Share Certificate|
|1.25%||$500||-||48 Month Share Certificate|
|0.95%||$50k||-||Jumbo 36 Month Share Certificate|
|0.90%||$500||-||36 Month Share Certificate|
|0.65%||$500||-||24 Month Share Certificate|
|0.65%||$500||-||36 Month Step Up Share Certificate|
|0.60%||$50k||-||Jumbo 12 Month Share Certificate|
|0.55%||$500||-||12 Month Share Certificate|
|0.55%||$500||-||15 Month Share Certificate|
|0.40%||$500||-||6 Month Share Certificate|
|2.60%||$500||-||120 Month IRA Certificate (Traditional,Roth,CESA)|
|2.20%||$500||-||84 Month IRA Certificate (Traditional,Roth,CESA)|
|1.55%||$50k||-||Jumbo 60 Month IRA Certificate (Traditional,Roth,CESA)|
|1.50%||$500||-||60 Month IRA Certificate (Traditional,Roth,CESA)|
|1.25%||$500||-||48 Month IRA Certificate (Traditional,Roth,CESA)|
|0.95%||$50k||-||Jumbo 36 Month IRA Certificate (Traditional,Roth,CESA)|
|0.90%||$500||-||36 Month IRA Certificate (Traditional,Roth,CESA)|
|0.65%||$500||-||24 Month IRA Certificate (Traditional,Roth,CESA)|
|0.65%||$500||-||36 Month Step Up IRA Certificate (Traditional,Roth,CESA)|
|0.60%||$50k||-||Jumbo 12 Month IRA Certificate (Traditional,Roth,CESA)|
|0.55%||$500||-||12 Month IRA Certificate (Traditional,Roth,CESA)|
|0.55%||$500||-||15 Month IRA Certificate (Traditional,Roth,CESA)|
|0.40%||$500||-||6 Month IRA Certificate (Traditional,Roth,CESA)|