AgFed Credit Union is headquartered in Washington and is the 4th largest credit union in the District of Columbia. It is also the 746th largest credit union in the nation. It was established in 1934 and as of December of 2019, it had grown to 50 employees and 27,998 members at 6 locations. AgFed Credit Union's CD rates are 22% higher than the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in AgFed Credit Union is open to anyone through either The Friends of National Zoo ($20 one-time fee) or The Friends of the National Arboretum ($20 one-time fee); joining either is part of the Credit Union's application process. Membership is also open to those who live, work, worship, volunteer, or attend school in the District of Columbia, and employees (current and retired) of the 60+ SEGs.
See current membership details
Related Posts
9/15 - Rates Dropped Again
8/30 - "Reach New Heights" With AgFed's 18-Month CD, 2.20% APY
8/29 - 18 Mo. Certificate Rate Increase
4/3 - AgFed Credit Union Brings Back 21-month CD Special, 2.90% APY
10/12 - AgFed Credit Union Adds 21-Month CD Special
10/11 - Agfed 21-Month CD, 3.20% APY
9/26 - 16/16/16 Share Certificate Special - Not Listed as of 9/26/18
9/14 - AgFed Credit Union Adds 16-Month CD Special
6/29 - 60 Months IRA Certificate 3% APY
6/28 - AgFed Credit Union's 30-Month No Penalty CD Returns
6/28 - No Penalty 24 Month 2.4% Apy
6/25 - 21 Month Special Share Certificate 2.4% APR
9/10 - 30 Month 1.85% No Penalty CD
3/3 - AgFed Credit Union Brings Back 30-Month No Penalty CD
3/3 - Agfed CU 30 Mon 1.55% APY No Penalty CD. Quick Look.
5/26/16 - 5-Year CD, 2.20% APY. Quick Look.
8/31/15 - AgFed Credit Union Promotes Long-Term Competitive CDs
5/16/15 - AgFed Credit Union Raises Rate On 60-Month CD To Competitive Level
2/13/15 - AgFed Credit Union's No-Penalty Certificate Specials
9/17/14 - AgFed Credit Union's Limited Time Great Rate 30-Month No Penalty CD
9/16/14 - Agfed 30 Month 1.5% CD No Penalty
3/19/12 - Competitive CD Rates at Agriculture FCU - Easy Membership
1/18/11 - Agriculture FCU Fee For Paper Statements
2/18/10 - You Might Consider Adding Agriculture Federal CU To Your CD List
1/10/10 - 3.00% No-Penalty 60-Month IRA CD at Agriculture FCU - Easy Membership
12/10/08 - 4.25% 10-Month No-Penalty CD at Agriculture FCU - Easy Membership
10/16/08 - 3.75% 36-Month No-Penalty CD at Agriculture FCU - Easy Membership
5/21/08 - Agriculture FCU's No-Penalty 3.50% 36-Month CD - Easy Membership
7/28/07 - 6.00% 10-Month CD at Agriculture FCU (Open to All)
7/28/07 - Agriculture FCU's 6% CD is Ending Tomorrow
7/27/07 - Last Day for Agriculture FCU's 6% 10-Month CD
3/8/07 - Agriculture FCU IRA CD Rates Up To 6.00%
3/1/07 - Agriculture FCU Raises CD Rates Up To 5.75%
11/27/06 - Joining AFCU and Opening a 6.00% 60-Month Share Certificate
11/21/06 - 6.00% 60-Month CD at Agriculture FCU (Open to All)
11/17/06 - 6.10% 16-Month CD at Agriculture FCU Expires End of Monday
11/10/06 - 6.10% 16-Month CD at Agriculture FCU - $25K Min
6/15/06 - Agriculture FCU CD Rates Fall, There's Still a 6% 60-Month CD
6/10/06 - 6% 6-Month / 6.36% 36-Month CD at a DC CU (Open to All).
6/8/06 - 6.50% 48-Month CD at Agriculture FCU (open to all)
Good Experiences With Agfed
I joined AgFed in March 2017 for the 1.55% APY no-penalty CD. It was a great product, and using a no-penalty CD to hold short-term savings is a great idea. AgFed's rate was higher than almost anything I could get at the time, and getting the extra 55 basis points was worth the $20 to join Friends of the National Zoo.
Fast forward to September 2017, and they're running another no-penalty CD special. Although the online application form is not working, I've found them easy to work with. The first time I tried to open a CD on line, they actually called me unsolicited, I assume because they could see a half-completed app in their system. I've called twice to open CDs; the first time, I was transferred right away, and the second time I waited about 35 minutes for a callback. In both cases, I could say "I want a no-penalty CD" and the account was opened when I was on the phone. And it was opened, because when I logged in right after the call, the new CD was right there for me.
Yes, it's a little bit of extra work, but 1.85% for a rate that is almost liquid for three years is worth ten minutes on the phone.
Have Had Good Experience With Agfed
I have had pretty good experience with AgFed. When I opened my 1,65% 48 month Cd 3 years back, I opened the CD by phone (Had to wire funds to open).Two Phone reps I dealt with were very knowledgeable and professional. One was clueless.
I generally do not let quality of phone reps overly sway my impression of the financial institution. If it is a large one, quality of reps can vary based on time of day you call. If it is a small institution, the reps are either really good, good or "I just started today" ok.
I counter logistical/service frustration by having the mind set that inefficiency and hassles are part of the deal for getting a rate that FAR surpasses anything I can get locally.
Same Problem
I went through the exact same process as previous poster. I contacted them via email and told them to delete my info, I wasn't interested anymore. Received a response from a branch manager giving me directions to open a savings account then contact her directly and she would open the CD. Today I wasted another 45 trying that with the same results. Agree, I was going to transfer 6 figures and don't feel comfortable doing that at all at this point.
Unable To Apply ONLINE For 30 Month No Penalty CD
Yesterday, 9/13/17 I attempted to apply online for a 30 month no penalty CD. I tried several times but received an error code, JEEL that would not permit me to continue the application process.
I called their customer service number but the operators were clueless and told me someone familiar with the issue would call me. I received a call an hour later, and the person told me she could take my info over the phone since their system was having problems. I told her that I would prefer to do the application online and not over the phone. She informed me that the problem would be corrected by the next day so I agreed to complete the application online then.
The next day is today, 9/14/17, but the system is still down. I called back and once again the operators were unaware of the problem. I was told again that I would get a call back within probably 1 business day. So, once again I'm waiting.
I won't be available tomorrow for the call, so assuming I want to do business with them, I'll have to wait until next Monday.
This is very poor customer service and concerns me about depositing 6 figures $ with this credit union. While they are insured, I don't like the prospect of their website going down and their people being clueless to that fact.
Also, they are only open until 3:30 PM Eastern time. That's another problem.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 16400 |
| Year Chartered | 1934 |
| Employees | 50 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.45% |
| Return on Equity - YTD | 4.26% |
| Annual Interest Income | $11.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $350.8MM$331.8MM |
| Loans | Q4 2019vs Q4 2018 | $228.3MM$216.8MM |
| Deposits | Q4 2019vs Q4 2018 | $312.2MM$295.9MM |
| Equity Capital | Q4 2019vs Q4 2018 | $37.3MM$34.4MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $1.6MM$1.9MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $712.00K$2.1MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |