CAP COM Federal Credit Union is headquartered in Albany and is the 12th largest credit union in the state of New York. It is also the 148th largest credit union in the nation. It was established in 1953 and as of December of 2019, it had grown to 347 employees and 137,142 members at 12 locations. CAP COM Federal Credit Union has an A health rating.
Membership in Cap Com Federal Credit Union is open to those live, work, worship, or attend school in the New York communities of Albany, Cohoes, Green Island, Mechanicville, Rensselaer, Troy, Schenectady, or Watervliet. Employees of over 700 Capital Region Member companies and organization are also eligible, as are students at nearly 80 local schools through the School Banking Program. Immediate family and household members of existing Cap Com member may also apply.
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I've had an account at CAPCOM for going on five years now. Since joining this institution I have been quite pleased with their services. Every time I've been treated with respect and the employees have given great customer service. They make you feel as if you are welcomed and not a nuisance. The fact that they have a coin machine free of charge for it's members is a huge plus as we incur lots of coins each and every month. This helps with cashing this in without the worry of paying fees for this service. The mobile site is always reliable and works great, and allows you to do quite a bit of banking from your phone if needed. The only bad thing about the credit union is the interest rates on the Savings Account. In all fairness, most banks to give you much of a return on a savings account balance, but CAPCOM seems to be a little lower than other competitors. They do also though provide a batch of check on your first order which is great service in my opinion as those sometimes can get expensive. The checking accounts do not have a fee if you keep a minimum balance, which in comparison is quite a low minimum when compared to other banking choices. Overall I'm quite satisfied with them and don't plan on switching anytime soon.
I have been using credit unions for many years now. Up until I began banking at Capcom FCU, I was not too thrilled with my experiences. Several things at Capcom changed my view on Credit Unions in general. First, the customer service here is amazing. When you walk in you are greeted with a smile, which is very uncommon at the other credit unions I've been to. Secondly, they always have plenty tellers to handle the busy times of day. If you go during a busy time period, you can still make it in and out within 10 minutes. Other credit unions will have you waiting in line for what seems like 30 minutes because they are understaffed. Thirdly, the rates they offer on their checking accounts are unbeatable anywhere else. I have never incurred any type of fees with my savings account or checking account in all the years I have been with them.
I took a home equity loan out with CapCom this past spring. An appraisal was required, and my house appraised at a high enough value to get the PMI removed from my Santander Bank-financed mortgage. The CapCom Home Equity rep I worked with said she’d submit the CapCom appraisal to Santander Bank on the Santander forms I gave her both in hard copy and electronic form (which saved me the $425 I would have had to pay for Santander to do the same appraisal, plus my monthly PMI payments of $100/month on my Santander mortgage would stop once the submitted CapCom appraisal was received and processed by Santander).
I contacted the CapCom rep last week because the PMI remains on my Santander mortgage and I thought it would be gone by this point (it’s been 5 months since she said she’d submit the CapCom appraisal to Santander). She told me that she sent it (she thinks it was faxed) to Santander but has no records of doing it and can’t even give me a ballpark date that she faxed it (she was unable to save anything related to faxing the appraisal to Santander because it was not a part of my CapCom loan, and therefore she did not have the ability to document what she thinks she faxed to Santander). So to reiterate, there is NO documentation of anything related to submitting the appraisal to Santander (via fax, she thinks). I did speak to Santander and they have no record of anything ever being received from CapCom.
She should have simply said “no” when I asked her to do this. I get it, my mortgage is through another bank and what I asked her to do was above and beyond her duty related to my CapCom Home Equity loan. Had she said “no” I would have paid the $425 for the Santander appraisal and the PMI would be off my mortgage by now and not continuing to cost me $100/month. I was thrilled to be saving the $425 on a Santander appraisal by using the CapCom appraisal – now I have to pay the $425 for Santander to do it, have since paid 5 months of PMI insurance that could have been halted at some point within that time, and will continue to pay the PMI until my Santander appraisal (which I just requested yesterday) is completed and processed.
NO documentation. I don’t understand how a CapCom employee could NOT keep a record of submitting an appraisal on the behalf of a credit union member to another mortgage company. In addition, regardless of whether or not that fax was a part of my CapCom Home Equity loan, I would think that this is a record/transaction that CapCom would want to be aware a CapCom employee made complete with dates and documentation of that transaction.
I have always heard good things about Capcom so my husband and I decided to give them a try. My husband was so excited because of all the great things that we heard ,he wanted to close all of our money market and business account and bring everything over. I told him lets check it out first me being skeptical lets see if it's as great as they say. We opened a joint checking account for paying our bills only and had half of our paychecks going into the account. We are only allowed to have one sign on for online banking which I thought was weird just learned that today. Here is my issue on Sept 22 my husband deposited a Teller check from our mortgage company,a little over 900. The teller put a two day hold on the check and did not tell my husband. Being that I used to be a banker I assumed the check wouldn't be available until the next business day so on the sept 23 i made a car payment for a little over 300 and made a few small purchases under 50. Capcom charged me $100. I called their customer services line they told me i was spending money I didn't have and refused to refund the fees. They told me that they are not for profit so it isn't important for them to get fees from us, so I said since you are not for profit as a courtesy to your customer you shouldn't have a problem reversing the fees. They wanted to give me 45 dollars back. She not sure her name told me it is my responsibility to read the receipt regardless of what was told to me by the teller. I refused to take that so I went into my local bank, surely they will be nicer and more understanding. I spoke with Tammy she proceed to tell me about overdraft privilege works. I told her I already know how it works that is not what i'm talking about. The problem is the teller should have told us that there is a hold on the account a two day hold at that we are not new customers so no need for two business days hold. Tammy told me it is based on the tellers discretion so if the teller believe the check will not clear he has a right to put a hold on the check. I understand that but why didn't he tell me this? Her response was that it is my responsibility to read stuff and not listen to what the teller tells me. Tammy the capcom rep told he I shouldn't be using money I didn't have. That really pissed me off because the check was a cashier's check from my mortgage company and the money was already available but they put a hold on it. Wells Fargo got into trouble for lying to their clients should they be held accountable for not reading the fine print? I will never bank here if I can't trust my banker and I have to constantly be reading the fine print to ensure i'm getting what they tell me i'm getting. The teller SAID the check will be available tomorrow. Their online bank account shows the money fully available too it's all so you can "use money that you don't have " how rude !They are a bunch of liars and thieves they did that so they could get my 100 bucks. Needless to say i'm closing my account. Nothing spectacular about them I will stick to for profit banks. Credit Union are fake taking money from people and hiding under the Non-profit name to avoid taxes.
|Return on Assets - YTD||0.83%|
|Return on Equity - YTD||8.1%|
|Annual Interest Income||$76.5MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$1.94B$1.75B|
|Loans||Q4 2019vs Q4 2018||$1.74B$1.57B|
|Deposits||Q4 2019vs Q4 2018||$1.66B$1.47B|
|Equity Capital||Q4 2019vs Q4 2018||$194.9MM$177.1MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$22.2MM$20.1MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$20.0MM$22.1MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$365.00K$53.00K|
Rates for CAP COM Federal Credit Union are currently being reviewed.