A+ Federal Credit Union is headquartered in Austin and is the 11th largest credit union in the state of Texas. It is also the 150th largest credit union in the nation. It was established in 1949 and as of December of 2022, it had grown to 495 employees and 194,192 members at 22 locations. A+ Federal Credit Union's CD rates are 6X the national average, and it has a B+ health rating.
Field of Membership Restrictions
A+ Federal Credit Union is open to any Texas resident by joining the A+ Education Foundation ($10 one-time membership dues). Membership is also open to employees or members of Texas State Teachers Association, any Austin ISD Elementary, Middle or High School, and many other Select Employer Groups.
See current membership details
My Experience Has Been Very Good
When people are happy with a business they will only tell others who ask about that business. When people don't get what they want, they will tell everyone about the experience. That is the only reason I can see for such negative reviews with so many thumbs up.
I have used many banks and credit unions over the past two decades. A+ FCU deserves its name. I've never had customer service be unhelpful, much less rude. For instance, someone else's store credit card debitrd my checking for its monthly payment, so I went in and explained that I didn't even have a credit account with that store. The charge was deleted without any demands made on me. I've never had a problem with their online service. Their current CD rates are comparable to two other FCUs that I use. I don't think fees are ever reasonable, so only in that respect did A+ get less than 5 stars. But they aren't any worse than any other credit union, and much better than many banks.
Not Open To ANYONE
The field of member reads "Membership in the A+ Federal Credit Union is open to anyone the A+ Education Foundation ($10 membership dues)." Not so, you still a Texas address. RATS ! ! ! I have wanted to join this Credit Union for years now.
BEWARE...Hard Credit Check To Open An Accout...Poor Customer Service
First of all, if you "apply" for a savings account with this bank they will run a hard check on your credit. Second, unless you live in the Austin area, do not bother to apply. I have a fraud alert I placed on my credit report through the credit agencies, and because of this I was denied automatically. I was told that unless I can come into a branch and prove I am who I am, I would be denied to open a savings account. I offered to get any documentation notarized, or jump through any other hoops, but the bank said that unless I remove the fraud alert on my credit report, they would not help me at all. (I have the fraud alert on my report for a reason...and why they would recommend I remove it just to open an account with them amazes me.) I find it amazing that a bank would not want to give someone who wants to deposit money in their bank the time of day. A loan or a credit card, I could understand...but a savings account? So now I have been left with a hard check on my account and no savings account. The rates may be good on some of their accounts, but their poor customer service and the hard check they will run on your credit make opening an account with them just not worth it. Unless they are prepared for more "out of town" people who apply for their online accounts, they should just shut down that part of their business and just be a brick and mortar bank.
Bad Customer Services
Teachers Beware!!! The A+Credit Union is nolonger the credit union it was creadit to be year ago. It is acutally only operating under the umbrella of a credit union by name but with the characteristics of the large banks...it is worse than majority of the large banks and focuses on setting the customer up to take their money!! There are better credit unions around Austin with great customer service and support for your financial transactions. Visit other credit union and banks and compare before you continue to allow A+ manage your finacial future...you are not in good hands!
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 6178 |
| Year Chartered | 1949 |
| Employees | 495 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.6% |
| Return on Equity - YTD | 15.98% |
| Annual Interest Income | $113.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $2.73B$2.42B |
| Loans | Q4 2022vs Q4 2021 | $2.43B$1.96B |
| Deposits | Q4 2022vs Q4 2021 | $2.17B$2.06B |
| Equity Capital | Q4 2022vs Q4 2021 | $273.5MM$232.2MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $11.3MM$8.6MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $22.9MM$7.6MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
