Advancial is headquartered in Dallas and is the 14th largest credit union in the state of Texas. It is also the 203rd largest credit union in the nation. It was established in 1937 and as of March of 2021, it had grown to 232 employees and 99,546 members at 10 locations. Advancial's money market rates are 2X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Advancial is open to the following: 1) to those who live, work, worship, or attend school in the Louisiana Parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, or Vermillion; 2) Employees of several SEGs (petroleum refining industry). (Membership requirements are listed on Advancial's application).
See current membership details
Related Posts
6/16 - ADVANCIAL CHANGED THE RULES
5/2 - Advancial CU MM Holds At 1.01%, 5-Year Jumbo CD Slightly Drops
4/8 - Advancial Long-Term Jumbo CD Rates Increased Significantly
4/5 - Advancial Announces New Rates (Highest Yield Is 1.94%)
3/1 - Advancial Announces New CD Rates
2/1 - More Good News - Advancial MM Remains At 1.01%
1/1 - Advancial CU MM Remains At 1.01% And Is Now The Last 1% Account Left
11/18 - Update on Advancial’s Availability and Competitive Jumbo CD Rates
11/3 - Advancial FCU - Many Good CD And MM Deals
6/1 - Advancial CU CD Rates DRASTICALLY Slashed
5/6 - Advancial Short-Term Jumbo Certificates Are Rate Leaders
5/6 - Connex Does Not Work To Secure Membets Hip In Advancial
4/11 - Advancial Long-Term CDs Continue To Be Very Competitive
1/29 - Advancial Jumbo CDs Are Rate Leaders
12/1/18 - Advancial December Share Certificate Rates Published
11/3/18 - Advancial's Jumbo CDs and IRA CDs Become Rate Leaders
1/1/18 - Advancial January CD Increases
12/1/17 - Advancial's 1-Year Jumbo Certificate Rate Raised
12/1/17 - Advancial Posts December Rates
10/6/17 - Advancial Raises CD Rates Across The Board
10/1/17 - Advancial October CD Rates Posted
9/1/17 - Advancial Drops CD Rates Across The Board, Starting 9/1
8/1/17 - August CD Rates: Some Small Changes
7/26/17 - Advancial's Jumbo Certificates ($50k min) Offer Top Rates
6/11/15 - 5-Year, 2.49% APY CD. Quick Look.
8/2/14 - Advancial Credit Union (5Yr CD, 2.57%APY)
7/22/14 - 5-Year, 2.41% APY CD. Quick Look.
Great credit union
I have been a member of the Advancial Credit Union for over 10 years. I have relied on this Credit Union for a variety of financial products. It all started with a small deposit into a money market account. I would occasionally deposit money into this account, and tried to keep up with it. Later, I began using their checking account and a CD. I love the people and the helpful service. They are a great credit union.
Good CD Rates, Lot Of Hassle
This is a primitive credit union. No online money transfers/ACH permitted until account has aged. If want to receive monthly CD interest, it is via mailed check only. Initial deposit for CD is via check or wire only; linking external accounts not available. Opening a savings account is mandatory for a CD. Will have to visit a bank location to open an account. Ask all your questions while at the branch; is a 10-15 minute wait on hold to speak with someone on the phone. Few consistent answers between branch and phone representatives.
ADVANCIAL CREDIT UNION POLICY CHANGES
Advancial Credit Union offered a credit card which was the best I have ever seen. However, they did not let me (or anyone else) know of their policy changes which took place in the middle of a billing cycle. I know they have the legal right to do this and whatever else I agreed to, but I believe they have the ethical obligation to give us a few day's warning. It would have been nice to have received an email explaining the changes a week or more before the changes took place.
Advancial's Visa Rewards Plus credit card offers 0% interest for one year on all purchases and balance transfers. There is no balance transfer fee. The GREATEST benefit involved paying off the card. I could make payments on this Visa card using another credit card or debit card!!!! The restrictions on the payments were (A) The credit and debit cards used for payments could not be Visa cards. (B) The maximum allowed per month to use credit and debit cards for payments was $10,000. Needless to say, I paid off the card each month by first using many small (about $1) debit card payments to fulfill my Kasasa type requirements of having 10 debit card uses per month. Then near the end of the month, I would use my CITI DOUBLE CASH credit card to pay the rest of the $10,000 allowed. So I paid off the $10,000 balance transfer in one month and got my Advancial credit card balance down to $0. At that point, I could do another balance transfer with no fee and start the process over. So each month I was making about $200 in cashback on my CITI Double Cash card by using it to pay off the $10,000 . This could be done for a whole year. Note, I did not have to invest any money to make the $200 per month. I think at the end of the year I could perhaps close the card and apply for another one and repeat this process. I was also going to manage payments for friends and relatives after they opened the card. Luckily, I never got to the point of having friends and relatives open the Advancial card.
A couple of days ago I could no longer make payments on my Advancial card. New but undisclosed rules went into effect with no warning. These are : (A) no credit card payments are allowed at all (B) Debit card payments have a maximum of 4 payments per month and a maximum total of $5000 per month. The golden goose died.
I would not recommend this credit union because they changed the rules without having the decency to let us know beforehand. They may just change other rules too. If you want to take the chance, their credit card may still be worth getting today if you want a $20,000 "loan" interest-free for one year. (And you get $100 if you spend $500 in the 1st 90 days). Now I am planning to have my balance hover near my credit limit of $20,000 until the year is up and take advantage of the free loan. They may do what Alliant Credit Union did however and cancel your card without any reason.
Great CU So Far!
Their process to open an account online is still a little cumbersome. After completing your application, they send you an email where you have to log into their secure email to get your account # and then use that to access your account. It's a small hassle. You also have to fund the account with a debit card for the $5 to open your share account. After that, you can open and fund a money market or CD account with money you ACH in from your other bank. It's nothing once you get the hand of it. CU are always a little different than banks because you are a shareholder, not just a customer.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 2285 |
| Year Chartered | 1937 |
| Employees | 232 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.1% |
| Return on Equity - YTD | 12.69% |
| Annual Interest Income | $15.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $1.96B$1.67B |
| Loans | Q1 2021vs Q1 2020 | $1.44B$1.28B |
| Deposits | Q1 2021vs Q1 2020 | $1.69B$1.44B |
| Equity Capital | Q1 2021vs Q1 2020 | $163.6MM$149.6MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $7.1MM$6.4MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $11.1MM$10.6MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $0$786.00K |