Aspire Federal Credit Union was originally founded with a mission to serve employees of the Civil Aeronautics Administration (Federal Aviation Administration). The credit union has since expanded its field of membership into a community of tens of thousands of members.
Aspire FCU offers its members depository products and services as well as loans. Its depository side includes Kasasa Checking and Savings accounts, Money Market accounts and Certificates of Deposit.
Aspire Federal Credit Union online banking gives members access to their accounts via Internet and mobile for tasks like transfers of funds and bill pay.
Aspire FCU began in 1948 as FAA Eastern Region Federal Credit Union before changing to its current name. Its members are generally located in the Northeast, close to the credit union’s headquarters in Clark, New Jersey.
Membership is available to employees of participating organizations, their immediate family members and their household members. Members of Aspire FCU partner associations are immediately eligible for Aspire FCU membership. - See Details
I have been a member since last summer. Great CU! When I lost my wallet last year, they replaced my ATM/Debit card,(no fee!) AND waived the debit card requirement for that month because I was without the card. Shared Branching is GREAT! I go to my old CU, (DCU) and am treated like I was still their depositer! Deposits get credited quick,( I check online after leaving the DCU), at first I used the ATM fee refund, but now, I just use DCU's ATM, and that is free. ATM fee refunds are unlimited, if the fee is over $5, they want you to fax them a copy of the reciept, but other than that you get back the fees. The nearest branch to me is in New Hampshire, but I never use it. It's so quick and easy to use Shared Branching, and there are so MANY Shared Branches. Who needs BOA, or Chase!...LOL Whoever dreamed up Shared Branching is a GENIUS! Why would any CU NOT be a member? I pity the people who bank at the big TBTF banks, because they want alot of branches to go to. Get an RCA at a CU Service Center CU, get PAID to bank AND have alot of Branches to choose from!!
I've been "banking" at Aspire for almost a couple of years now and have to say that it's one of the best CUs I've been a member of. I became a member because at the time they were offering a terrific rate for the Kasasa Cash rewards checking account. But, as we all know, that didn't last, although the rate did hold for a lot longer than I expected. As for the customer service, I simply cannot complain here; they've always been courteous and followed through with any of my requests and/or questions when those would pop up from time to time.
Even though the rates dropped on both Kasasa Savings and Checking, I stayed with Aspire because of the very nice representatives I talked to on occasion.
I LOVE their edeposit feature. I just fill in a couple of things and make sure to mail them the check within seven days. No need to print or fax the check to them, although I have to admit this is also a nice way to do an edeposit. I have this with USAA, the caveat being that I don't have a working printer at this time.
My only true gripe with Aspire is that I am not able to do transfers from them to my other accounts, although USAA does have a very nice transfer feature with no limit on how many accounts I can have. At least I do have my monthly direct deposit going to my Aspire account, so that's one less worry.
A credit union that's well worth joining IMO!
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 Aspire Federal Credit Union had $2.31 million in non-current loans and owned real-estate with $19.02 million in equity and loan loss allowances on hand to cover it. This gives Aspire Federal Credit Union a Texas Ratio of 12.14% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Aspire Federal Credit Union decreased slightly from 15.72% as of March 31, 2013 to 12.14% as of March 31, 2014, resulting in a positive change of 22.76%.This indicates that the balance sheet and financial strength for Aspire Federal Credit Union has improved slightly in recent periods.
In the past year, Aspire Federal Credit Union has decreased its total deposits by -$4.61 million, resulting in -2.73% 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 Aspire Federal Credit Union has shown is below average.
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. Aspire Federal Credit Union has $183.49 million in assets with $19.02 million in equity, resulting in a capitalization level of 10.37%, which is above average.
|Assets and Liabilities|
|Equity Capital||$17.58 million|
|Loan Loss Allowance||$1.44 million|
|Unbacked Noncurrent Loans||$1.63 million|
|Real Estate Owned||$680,000|
|Historic Data - March 2013|
|Equity Capital||$15.90 million|
|Loan Loss Allowance||$1.25 million|
|Unbacked Noncurrent Loans||$1.63 million|
|Real Estate Owned||$806,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.31%|
|Return on Assets||0.19%|
|Return on Equity||1.93%|
|Interest Income||$1.86 million|
Always verify rates and promotions with the bank or credit union. We are not Aspire Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.51%||-||$10k||Kasasa Saver - Qualifying|
|0.05%||-||-||Kasasa Saver - Non Qualifying|
|0.50%||$50k||-||Premier Advantage Money Market|
|0.25%||$20k||-||Traditional Money Market Account|
|1.51%||-||$10k||Kasasa Cash - Qualifying|
|0.05%||-||-||Kasasa Cash - Non Qualifying|
|1.50%||$500||-||60 Month eCertificate|
|1.25%||$500||-||48 Month eCertificate|
|1.10%||$500||-||36 Month eCertificate|
|1.00%||$500||-||24 Month eCertificate|
|1.00%||$1k||-||15 Month eCertificate|
|0.75%||$500||-||18 Month eCertificate|
|0.50%||$500||-||12 Month eCertificate|
|0.45%||$500||-||6 Month eCertificate|
|0.20%||$500||-||3 Month eCertificate|
|Aspire Federal Credit Union Locations|
|Branch Office||67 Walnut Ave 1st Floor||Clark, NJ 07066|
|Branch Office||67 Walnut Ave||Clark, NJ 07066|