HEW Credit Union is headquartered in Alexandria and is the 32nd largest credit union in the state of Virginia. It is also the 1,077th largest credit union in the nation. It was established in 1936 and as of September of 2013, it had grown to 60 employees and 18,168 members. HEW Credit Union's savings rates are 44% higher than the national average, and it has a B health rating.
Must live, work, worship or attend school in Virginia (the City of Alexandria, Arlington or Fairfax County), Maryland (Prince George’s or Montgomery County) or Washington D.C. - See Details
I have been a member for many years and experienced a high rate of employee turnover. Each time hoping the next occasion I spoke to staff on the phone, online or in-person it would be improved. My hopes have been dashed each year.
Shame on HEW for not upholding to the high standards of what a credit union should be.
Staff use unprofessional language, slow response time and don't seem to care about thier work or work environment due to the lack of upkeep and 'look' of the offices. But perhaps this has more to do with senior staff. Staff tell me things that are not accurate about policy and ways to utilize my account. I have had more fees charged over the years than I can accurately count, at my summation it averages over $200 each year.
Unlike thier new slogan, they take more and more money out of my pocket each year and provide me little guidance on how to stop this from happening or a path to help shape a positive financial future for my family. I know this becaue I am a member at another credit union which does not do any of the above. I would never open an account here for my children, it would be a very poor introduction for them of how money and the banking system can work for you.
As a member of HEW I have always found service to be poor and have taken most loans and deposits elsewhere. Let me define poor service. Phone and online systems down often. Poor hours, closing early. Employees and offices not inviting, poor clothing, language not of an educated financial partner but someone very rough around the edges, offices look and smell old, not welcoming or pleasing to the eye. Online systems are antiquated, slow and new generational banking options not available. CD rates may be good and they may currently be a well capitalized organization but clearly this is at a huge cost of poor infrastructure and low expectations of service. Doors are open but what's truly offered to a member or young adult who needs guidance is non-existent at HEW. Banking with them would be a poor investment of your time.
HEW is a very sorry, ghetto credit union. It lacks organization. There is no follow up or follow through with members, it does not have enough staff. The call center staff are all new and call wait times are really bad. there are in branch and contact center training issues. I have banked with the Credit Union for over five years and this is a warning to ALL who may be considering banking with this Credit Union.
This CU is very old and out-dated, having updated nothing in years. I closed my accounts after only a few weeks due to poor service, horrible bill-pay and terrible office hours plus the staff are not helpful, even the senior staff was rude when I called.
First, lets just get this out of the way. If you are considering working for HEW I would not recommend your choice unless you desire a poor carrer future. Ok, after being a member for 4 years and a current Govt employee in one of the locations whe they have a physical branch I can say I have experienced much at this credit union. Most of all they have changed nothing in 4 years of being a member yet so much needs to be upgraded. The phone hours are very poor, no weekend hours and only open until 4 during week. Only 3 branch locations, 2 in government buildings and only one free standing. Free standing branch is is a very poor location in Forestville, MD which serves only one demographic of their membership, African Americans. Free standing branch is located in a bad area, not safe for many customers or a female. Branch climate is stale, bad art, poor lighting, very dated furniture, messy desk and dusty. Not an inviting place to place your money much less to experience with a child you may be introducing to banking. Web site is very outdated and clunky to find anything useful. Staff are unfriendly and unwilling to go the extra mile to be helpful and anything about just very average, nothing special and at times poor. Staff are far from being well oiled and polished people. Staffing is poor at peak times and wait times can tend to be above average to see a service rep away from the teller line. Fees are higher than most credit unions in the country.
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, 2013 HEW Credit Union had $1.94 million in non-current loans and owned real-estate with $16.67 million in equity and loan loss allowances on hand to cover it. This gives HEW Credit Union a Texas Ratio of 11.67% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for HEW Credit Union held steady from 9.04% as of September 30, 2012 to 11.67% as of September 30, 2013, resulting in a negative change of 29.06%. This indicates that the balance sheet and financial strength for HEW Credit Union has held steady in recent periods.
In the past year, HEW Credit Union has decreased its total deposits by $-44,000, resulting in -0.03% 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 HEW Credit Union has shown is 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. HEW Credit Union has $159.39 million in assets with $16.67 million in equity, resulting in a capitalization level of 10.46%, which is above average.
|Assets and Liabilities|
|Equity Capital||$15.44 million|
|Loan Loss Allowance||$1.22 million|
|Unbacked Noncurrent Loans||$1.95 million|
|Real Estate Owned||$0|
|Historic Data - September 2012|
|Equity Capital||$17.03 million|
|Loan Loss Allowance||$2.08 million|
|Unbacked Noncurrent Loans||$1.95 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||4.61%|
|Return on Assets||0.05%|
|Return on Equity||0.49%|
|Interest Income||$4.40 million|
Always verify rates and promotions with the bank or credit union. We are not HEW Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.75%||$3,500||-||IRA Variable Rate Share|
|0.75%||$3,500||-||Roth IRA Variable Rate Share|
|0.75%||$3,500||-||CESA Variable Rate Share|
|0.40%||$100||-||HEWEY Sub-share Savings|
|0.05%||$100||-||Regular Share Account|
|0.05%||$100||-||Holiday Share Account|
|0.45%||$100k||-||Money Management Account|
|2.22%||$1k||-||6 Month HEWEY Share Certificate|
|2.22%||$1k||-||6 Month Generation APY Share Certificate|
|1.76%||$2k||-||60 Month Silver Share Certificate|
|1.26%||$2k||-||36 Month Silver Share Certificate|
|1.00%||$1k||-||24 Month Silver Share Certificate|
|0.75%||$1k||-||12 Month Silver Share Certificate|
|0.60%||$100||-||9 Month Silver Share Certificate|
|0.40%||$500||-||6 Month Silver Share Certificate|
|2.02%||$2k||-||60 Month IRA|
|2.02%||$2k||-||60 Month Roth IRA|
|1.51%||$2k||-||36 Month Roth IRA|
|1.51%||$2k||-||36 Month IRA|
|1.51%||$500||-||36 Month CESA|
|1.00%||$500||-||12 Month IRA|
|1.00%||$500||-||12 Month Roth IRA|
|1.00%||$500||-||12 Month CESA|
|HEW Credit Union Locations|
|Branch Office||5720 Silver Hill Rd||District Heights, MD 20747|
|Branch Office||200 Independence Ave SW||Washington, DC 20201|
|Branch Office||5107 Leesburg Pike||Falls Church, VA 22041|
|Branch Office||300 Spring Garden St||Philadelphia, PA 19123|
|Branch Office||400 N Columbus St||Alexandria, VA 22314|