Advantage Federal Credit Union is headquartered in Rochester and is the 34th largest credit union in the state of New York. It is also the 729th largest credit union in the nation. It was established in 1975 and as of June of 2023, it had grown to 98 employees and 35,314 members at 8 locations. Advantage Federal Credit Union's savings rates are 8X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Advantage Federal Credit Union is open to those who live, work, worship, volunteer, or attend school in the City of Rochester (Zip Codes 14604 through 14616; 14619 through 14621; 14627; 14649; or 14652). Employees, retirees and volunteers of Advantage SEGs also qualify for membership. Immediate family and household members of individuals who are eligible for membership are also eligible to join.
See current membership details
Related Posts
Advantage after identiyi theft
My fiance and I had just finished combining both of our checking accounts with advantage. No sooner than we did our accounts were victims of identity theft. Our personal banker spent an entire afternoon with us helping us recover. Finding all the automatic debits we had just set up in order to help re set them up. Anything she couldn't help with that day she immediately started on the next morning. All of our accounts were re created and dealt with within 48 hours. Advantage took a bad situation and made it so much easier.
Bait And Switch
This place is shady. They dangled 1.97% interest rate on auto loans for 60 months, and 2.47% for 72 months. I walk in asking about 72 months at 2.47%, for a loan that I'm already pre-qualified for through the dealership where I'm buying the vehicle at 3.49%, they ask a ton of questions, all the way down to child support payments, lol. Ok, I'm driving in here with an 850 FICO score, zero credit card debt, a full-time job that pays well and they call me back later that day to say they're sorry, it's too much for a car but if you want a mortgage we can do that. Very strange business model, wasting people's time, we'll have to see how that works out for them. I'll be sure to inform others of my experience here. The young lady at the branch was friendly enough so I guess there's that. Too much for a car, you folks have a whole lot of nerve I have to say, lol, it's like are we married?
Edit, following up. So they've sent me a letter a week later about why they declined the car loan stating that they checked my credit score through Experian and it was 759. I was surprised at 759 so I went online and registered with Experian directly to verify this. And it shows 850, lol, as I said before I knew prior to even applying for the loan it was 850. I check it regularly. So they'll outright lie about your credit score besides. Whatever... at this stage I'll gladly pay the dealer an extra point on the loan. Here I thought the dealers were the shady ones.
Scamming And Excessive Fees
On two separate occasions, this bank has illegitimately taken money from my account via really exorbitant fees. If you attempt to discuss the fees with them, they'll simply close the ticket and ignore you.
Awful bank - avoid at all costs.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24181 |
| Year Chartered | 1975 |
| Employees | 98 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.38% |
| Return on Equity - YTD | 8.11% |
| Annual Interest Income | $10.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $494.1MM$451.4MM |
| Loans | Q2 2023vs Q2 2022 | $350.0MM$302.9MM |
| Deposits | Q2 2023vs Q2 2022 | $378.3MM$352.6MM |
| Equity Capital | Q2 2023vs Q2 2022 | $23.2MM$25.2MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$1.7MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $252.00K$200.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |