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 Adds 3-month CD Special, 3.01% APY - 11/25/2019

Andrews Federal Credit Union (easy membership) has added a 3-month CD Special (3.01% APY), which is available now through 12/6/2019. Minimum deposit is $1k.

Andrews FCU 3-Month Share Certificate 3.01% - 11/19/2019

APY effective November 25, 2019, is 3.01%; dividend rate is 2.975%. Certificate has a $1,000 minimum. Available only to members November 25 through December 6, 2019. Available for non-IRA certificates only. It is short term. It's probably not worth it if you are not already a member. They are a pain to work with.

Andrews Federal Credit Union 84-Month CD (3.05% APY) Is A Rate Leader - 11/14/2019

Andrews Federal Credit Union (easy membership) is currently offering 3.05% APY on its 84-month Share Certificate Special. $1k min/$250k max deposit. Limit of one.

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Takes A While But Well Worth It

Posted by: ET | Jul 31, 2019

Took 8 working days to open an account due to high volume.

Excellent customer service each time.

Well worth the time and effort. Currently they have the best CD rates, 8 months 2.86% APY and 17 months 2.95% APY specials. Maximum deposit for each special share certificate is $250,000.00.

Prepare For Junk Mail

Having become a member of Andrews this past year, I've been dismayed by the fact that I've received junk mail from Andrews affiliates, e.g. offers for life insurance. Upon contacting them to remove me from their marketing lists, I was told to allow up to 6 months for my name to be purged from said lists. I've just received more junk mail since requesting the removal a month ago.

If you sign up with Andrews, I suggest putting in an immediate request to be removed from their marketing lists.

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.

The Roach Hotel Of Credit Unions

I've had accounts with Andrews for several years. I originally joined to open an IRA CD but could never get in writing that I could take my RMD without paying early withdrawal penalties or breaking the CD. The CSR's just kept saying "we've always done it this way". That was not enough for me to commit $250,000 for 5 years to an IRA CD so the money went elsewhere. Then they offered me an auto loan refinance for .99% so I did that and figured it was worth it as I was earning 2.5% on the money that I owed on the loan. That was a nightmare to jump through all of the hoops that they presented and not worth the money I made on the difference. They also did a total of three hard pulls that persist on my record to this day when they told me I would only have one. I couldn't change the bank that they auto withdrew my payments on the loan without sending in a form and a voided check, so I just paid off the loan and waited 8 weeks to get the title. They originally took 6 months to get the title from Pen Fed when I transferred the loan to them.
Now I am trying to close my share savings account and waited a long time to talk with a CSR to request the account be closed and she said it would be done today. Today I got an email from them that says they need a signed request snail mailed to them with a copy of my drivers license in order to close the account. I haven't moved in 15 years but they need a photo ID with my current address in order to process my request to close my account and send me back my $5. I, like a lot of you here, have accounts at multiple banks and credit unions all across the country, and this is by far the worst place I have ever done my banking. If I can just close this account, I will never be back, I don't care what kind of interest rate they offer.

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Health

Health Grade Components

Overall
NCUA #5754
Year Chartered1948
Employees296
Primary Regulator
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD7.44%
Annual Interest Income$56.5MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.96B$1.74B
LoansQ3 2019vs Q3 2018$1.64B$1.41B
DepositsQ3 2019vs Q3 2018$1.65B$1.44B
Equity CapitalQ3 2019vs Q3 2018$189.9MM$175.9MM
Loan Loss AllowanceQ3 2019vs Q3 2018$24.9MM$21.3MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$11.5MM$7.5MM
Real Estate OwnedQ3 2019vs Q3 2018$68.00K$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Andrews FCU 3-Month Share Certificate 3.01%

miser   |  
APY effective November 25, 2019, is 3.01%; dividend rate is 2.975%. Certificate has a $1,000 minimum. Available only to members November 25 through December 6, 2019. Available for non-IRA certificates only.

It is short term. It's probably not worth it if you are not already a member. They are a pain to work with.

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
0.40%--Holiday Club Account
0.40%--Vacation Club
0.31%$100-IRA Savings
0.31%$100-Base Share Savings
0.31%$100-Planner Saving
0.10%$100-Business Planning Savings

Andrews Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$100k*-Money Market Account
OTHER TIERS: 0.25% Up to $1k | 0.35% $1k - $10k | 0.40% $10k - $50k | 0.50% $50k - $100k
0.60%*$100k*-IRA Money Market
OTHER TIERS: 0.25% Up to $1k | 0.35% $1k - $10k | 0.40% $10k - $50k | 0.50% $50k - $100k

Andrews Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$1.5k-Advantage Checking
0.05%$5k-Business Partnership Checking

Andrews Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%$1k$250k84 Month Certificate Special
2.60%$1k$250k55 Month Certificate Special
2.25%$1k$250k17 Month Certificate Special
2.15%$1k-13 Month Certificate Special
2.05%$1k$250k8 Month Certificate Special
2.02%$10k-60 Month Jumbo Share Certificate
1.91%$1k-60 Month Share Certificate
1.76%$10k-48 Month Jumbo Share Certificate
1.61%$1k-48 Month Share Certificate
1.55%$10k-36 Month Jumbo Share Certificate
1.50%$1k-36 Month Share Certificate
1.50%$10k-24 Month Jumbo Share Certificate
1.46%$1k-48 Month Bump It Up Certificate
1.45%$1k-24 Month Share Certificate
1.45%$10k-12 Month Jumbo Share Certificate
1.41%$1k-12 Month Share Certificate
1.26%$1k-36 Month Bump It Up Certificate
1.00%$1k-24 Month Bump It Up Certificate
0.60%$10k-6 Month Jumbo Share Certificate
0.55%$1k-6 Month Share Certificate
0.55%$50-36 Month The Generator Certificate
0.45%$50-24 Month The Generator Certificate
0.40%$50-12 Month The Generator Certificate

Andrews Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.20%$1k-84 Month IRA Certificate
2.10%$1k-72 Month IRA Certificate
2.02%$10k-60 Month Jumbo IRA Certificate
1.91%$1k-60 Month IRA Certificate
1.76%$10k-48 Month Jumbo IRA Certificate
1.61%$1k-48 Month IRA Certificate
1.55%$10k-36 Month Jumbo IRA Certificate
1.50%$1k-36 Month IRA Certificate
1.50%$10k-24 Month Jumbo IRA Certificate
1.45%$1k-24 Month IRA Certificate
1.45%$10k-12 Month Jumbo IRA Certificate
1.41%$1k-12 Month IRA Certificate
0.60%$10k-6 Month Jumbo IRA Certificate
0.55%$1k-6 Month IRA Certificate
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