Xceed Financial Credit Union is headquartered in El Segundo and is the 43rd largest credit union in the state of California. It is also the 265th largest credit union in the nation. It was established in 1964 and as of March of 2014, it had grown to 197 employees and 64,832 members. Xceed Financial Credit Union has a A health rating.
Membership is open to members of several organizations. One is the Friends of the Webster Public Library which anyone can join for a $8 fee. You can also be eligible to join the credit union without joining an association if you live, work, worship or attend school in various communities around the nation. Please check their eligibility page for full details. - See Details
XFCU announced that they were changing their 'bill pay' ... what they didn't say was they were going to change the check register and categorizion, etc. Now all the info I input for the last 8.5 months is altered. Payee info is gone, memos are gone and my categories are either blank or inappropriate...
This is a good credit union.I have been a member for over 25 years.They could be a "GREAT" credit Union.The seriously lack customer service.For instance if you had a question about your account and called their main office,if the person you spoke to could not answer your question satisfactory and they said that they would have to call you back, Don`t hold your breath.After a while you get the feeling that "nobody cares".
On another subject,Their website security is top notch.But you have to run gauntlet after gauntlet of security passwords,different ones for different accounts within your account .It`s such a nightmare you don`t want to visit the site very often.
If they could straighten this as well as their Customer Service they could be a "GREAT" Credit Union
I made three separate phone calls to their call center, speaking with three different employees.
I had what I thought was a simple question, unfortunately the staff is not familiar enough with CD basics to tell me what the early withdrawal penalty is, ie. how many days or months interest. They couldn't give me answer. All three responded with a version of the same theme. "That depends on the term, the amount, and the interest rate." They apparently don't understand the concept of early withdrawal penalties and could only answer my question if I already had a CD in effect and then they could enter the info in some online program. The first one asked me if I was a member and I said not yet, I am considering it, and then proceeded to ask me for my social! Then when she finally allowed me to ask about the penalty, no matter how many ways I worded it, she said she couldn't tell me the penalty. By the time I got to the third rep, after she told me 'it depends on many factors', I told her very directly that early withdrawal penalties are a critical factor in evaluating the terms of a CD and I need to know that before I opened the CD. She said that she needed more information about the CD. I even tried giving her a hypothetical CD: $10,000 for 17 months @1.50% (they're running a promo on 17 months). She still told me she couldn't tell me.
All three could not wrap their minds around expressing a penalty in terms of days or months of interest...only a specific dollar amount.
Looks like more than just one weak employee here.
I gave them another chance per their post on this blog, but to save you grief, you're better off elsewhere (I went with NASA, but there's others in the 15 month range)
I told the branch manager I was going overseas. I was unable to get any of my money through their system. Go put your money in a bank if you need it when on vacation.
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 Xceed Financial Credit Union had $4.62 million in non-current loans and owned real-estate with $81.53 million in equity and loan loss allowances on hand to cover it. This gives Xceed Financial Credit Union a Texas Ratio of 5.67% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Xceed Financial Credit Union experienced no significant changes from 5.84% as of March 31, 2013 to 5.67% as of March 31, 2014, resulting in a positive change of 2.91%.This indicates that the balance sheet and financial strength for Xceed Financial Credit Union has had no significant changes in recent periods.
In the past year, Xceed Financial Credit Union has increased its total deposits by $38.26 million, resulting in 5.7% 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 Xceed Financial 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. Xceed Financial Credit Union has $851.2 million in assets with $81.53 million in equity, resulting in a capitalization level of 9.58%, which is above average.
|Assets and Liabilities|
|Equity Capital||$78.87 million|
|Loan Loss Allowance||$2.66 million|
|Unbacked Noncurrent Loans||$3.50 million|
|Real Estate Owned||$1.12 million|
|Historic Data - March 2013|
|Equity Capital||$77.76 million|
|Loan Loss Allowance||$5.42 million|
|Unbacked Noncurrent Loans||$3.50 million|
|Real Estate Owned||$1.50 million|
|Profit Margin - Quarterly|
|Net Interest Margin||0.91%|
|Return on Assets||0.21%|
|Return on Equity||2.24%|
|Interest Income||$7.56 million|
Always verify rates and promotions with the bank or credit union. We are not Xceed Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.25%||-||-||Health Savings Account|
|0.25%||-||-||Roth IRA Savings|
|0.35%||$100k||-||Executive Money Market|
|0.15%||$100k||-||Business Money Market|
|0.05%||$1k||-||Prime Money Market|
|0.10%||$250k||-||SeekMore Checking Account|
|2.05%||$500||-||60 Month CD|
|1.50%||$500||-||17 Month CD|
|1.25%||$500||-||19 Month CD|
|0.90%||$500||-||12 Month CD|
|0.75%||$500||-||48 Month CD|
|0.70%||$500||-||36 Month CD|
|0.70%||$500||-||7 Month CD|
|0.50%||$500||-||6 Month CD|
|0.50%||$500||-||24 Month CD|
|0.40%||$500||-||12 Month Business CD|
|0.40%||$500||-||24 Month Business CD|
|0.40%||$500||-||15 Month CD|
|0.40%||$500||-||18 Month CD|
|0.40%||$100k||-||12 Month Jumbo CD|
|0.10%||$500||-||1 Month Business CD|
|0.10%||$500||-||3 Month Business CD|
|0.10%||$500||-||6 Month Business CD|
|0.05%||$50k||-||30 Day Jumbo CD|
|0.05%||$50k||-||90 Day Jumbo CD|
|0.05%||$50k||-||180 Day Jumbo CD|
|2.05%||$500||-||60 Month IRA|
|1.40%||$500||-||14 Month IRA|
|1.25%||$500||-||19 Month IRA|
|0.90%||$500||-||12 Month IRA|
|0.75%||$500||-||48 Month IRA|
|0.70%||$500||-||36 Month IRA|
|0.70%||$500||-||7 Month IRA|
|0.50%||$500||-||6 Month IRA|
|0.50%||$500||-||24 Month IRA|
|0.40%||$100k||-||12 Month Jumbo IRA|
|0.40%||$500||-||15 Month IRA|
|0.40%||$500||-||18 Month IRA|
|0.05%||$50k||-||30 Day Jumbo IRA|
|0.05%||$50k||-||90 Day Jumbo IRA|
|0.05%||$50k||-||180 Day Jumbo IRA|