Andrews Federal Credit Union


Overview / Commentary
800-487-5500
5711 Allentown Rd
Suitland, MD 20746

Founded in 1948 by just eight people with $5 apiece, Andrews Federal Credit Union now provides a variety of financial products and services to over 120,000 members throughout Washington, DC, Maryland, New Jersey, and Virginia. It also serves members at select military outposts in Germany, Belgium, and the Netherlands.

There are a variety of personal depository banking products available from the credit union. These include savings accounts, checking accounts, Certificates of Deposit (CDs), and money market accounts. Andrews Federal Credit Union requires a basic savings account for membership, but it also offers Individual Retirement Account (IRA) savings accounts, as well as holiday savings accounts, vacation savings accounts, and youth savings accounts. As for checking accounts, the credit union provides both non-interest-bearing and interest-bearing options, depending upon the account balance. Standard CDs are available, as well as Traditional, Educational, and Roth IRAs available as CDs. CD terms range from 6 months to 84 months, and higher interest rates are available for larger “jumbo” CD balances. The credit union also offers personal loans, credit, insurance, and investment services.

Andrews Federal Credit Union also provides business savings accounts and business checking accounts. The latter vary by account balance and number of transactions. In addition to these deposit account products, business loans and other business services – such as payroll and merchant processing – are also available.

Field of Membership Restrictions

Membership in Andrews Federal Credit Union is open to anyone through the American Consumer Council. Membership is also open to those who live, work, worship, or attend school in Washington, D.C.; military and civilian personnel from Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; and other military-related qualifications.
See current membership details

Related Posts

Andrews Federal Credit Union CD Rate Lock Details - 3/18/2020

Share Certificate rates at Andrews Federal Credit Union (easy membership) are "locked in" when an application is complete, and are not dependent on when funding takes place.

Andrews Federal Credit Union 24-Month Jumbo CD Adds 65 bps - 3/12/2020

Andrews Federal Credit Union (easy membership) has added 65 bps to its 24-month Jumbo Share Certificate, giving it a 2.15% APY. Minimum opening deposit is $10k.

Andrews FCU CD Specials - No More - 3/6/2020

Among these, the 84 month with 3.05%, max $250k.   84 month now brings 2.35%.  (IRA gets 2.60%) https://www.andrewsfcu.org/Learn/Resources/Rates/Share-Certificate-Rates

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Fantastic Service

Posted by: |

It took an hour to become a member of Andrews Federal CU via membership in American Consumer Council. Moved money from another bank to my account at Andrews through the shared branch; it took 5 minutes and money arrived to my account at Andrews in less than an hour. Called the Rep on Saturday around noon, waited for about 10 minutes. Asked to open CD, it took 5 minutes to open one; in 10 minutes I had a confirmation in my computer. The interest rates are at the top and service is fantastic! Highly recommended.

Decent, But Some Hoops

Posted by: |

Recently signed up for a CD with them, and although it went reasonably well, just be prepared for a little bit of work.

Setting up an account (without a branch near you) requires the typical 'life story' application along with scans of your license/documents. Not a big deal, but a little bit of a pain.

Moving the money in on a CD isn't quite as easy as a simple ACH, however, as they have 10K limits (at least for new members). So there it's easiest to use a shared CU branch. So long as you have a local branch, not too terrible, just make sure you can write a check or get the money to the local CU.

But the big issue with these guys is simply getting them on the phone. It's easy to get the call center, but they are kind of useless, they can't handle CDs. So you need a real bank person ... sometimes they answer reasonably quickly, other times it feels like you are dealing with a support call with Microsoft or some tech company. Took me close to an hour to get a hold of someone when I did it. You have an option through the call center of leaving a callback number, but I was kind of shocked when I was told it'd take 1-2 days to get that call back. That's simply too long, especially if eager to get a CD finalized in an environment where the FED just crashed the rates.

Anyway, managed okay in my case, but just be aware that it may not be supersonic to get them on the phone.

Not Only Very Long Wait On Phone To Talk To Rep But Rep Does Not Know The Answer And You Have A Second Wait

I made a deposit through shared branching for $100,000. I had been told previously by one rep that after I made the deposit I needed to call to have the money put into their advertised CD. I called and was told by the rep I spoke with that my money was on hold for 12 days and there was nothing that could be done until then. When I became upset with that response, she said she would transfer me to the main office. Luckily I was not disconnected but did have another long wait. I explained to the second rep that I did not want to withdraw the money, just open a CD. The second rep said she could open the CD and would have the hold removed. After a lengthy wait, she did so. Not an easy process. Were it not for the 9 mo. CD at 2.75% I would never deal with this credit union again.

Illegal To Withhold Money From My Certificate Of Deposit

Posted by: |

I recently opened an account here in order to buy the 84 month CD(right before rate dropped). Seems they transferred all money into CD except $1000 which they said would be returned at maturity. I believe it's illegal to withhold funds from a CD like this. Trying to get answers now...I'll keep this post active until it's resolved.

Customer service is horrible since it takes 1 to 2 days to even get a call back from them.

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Health

Health Grade Components

Overall
NCUA #5754
Year Chartered1948
Employees298
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD7.47%
Annual Interest Income$76.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$2.06B$1.76B
LoansQ4 2019vs Q4 2018$1.76B$1.48B
DepositsQ4 2019vs Q4 2018$1.75B$1.46B
Equity CapitalQ4 2019vs Q4 2018$193.6MM$178.9MM
Loan Loss AllowanceQ4 2019vs Q4 2018$24.8MM$23.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$11.2MM$7.6MM
Real Estate OwnedQ4 2019vs Q4 2018$1.4MM$155.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Andrews Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Andrews Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$100-IRA Savings
0.05%$100-Base Share Savings
0.05%$100-Planner Saving
0.05%--Holiday Club Account
0.05%--Vacation Club
0.05%$100-Business Planning Savings

Andrews Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$50k*-Premium Money Market
OTHER TIERS: 0.05% Up to $20k | 0.07% $20k - $50k
0.10%*$100k*-Premium Plus Money Market
OTHER TIERS: 0.05% Up to $100k
0.10%*$200k*-Prestige Money Market
OTHER TIERS: 0.05% Up to $200k

Andrews Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1.5k-Advantage Checking
0.05%$5k-Business Partnership Checking

Andrews Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$1k-84 Month Share Certificate
0.20%$1k-60 Month Share Certificate
0.20%$10k-60 Month Jumbo Share Certificate
0.15%$1k-48 Month Share Certificate
0.15%$10k-48 Month Jumbo Share Certificate
0.10%$1k-36 Month Share Certificate
0.10%$10k-36 Month Jumbo Share Certificate
0.10%$50-36 Month The Generator Certificate
0.05%$1k-6 Month Share Certificate
0.05%$1k-12 Month Share Certificate
0.05%$1k-24 Month Share Certificate
0.05%$10k-6 Month Jumbo Share Certificate
0.05%$10k-12 Month Jumbo Share Certificate
0.05%$10k-24 Month Jumbo Share Certificate
0.05%$50-12 Month The Generator Certificate
0.05%$50-24 Month The Generator Certificate

Andrews Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$1k-84 Month IRA Certificate
0.25%$1k-72 Month IRA Certificate
0.20%$1k-60 Month IRA Certificate
0.20%$10k-60 Month Jumbo IRA Certificate
0.15%$1k-48 Month IRA Certificate
0.15%$10k-48 Month Jumbo IRA Certificate
0.10%$1k-36 Month IRA Certificate
0.10%$10k-36 Month Jumbo IRA Certificate
Locations

Availability



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