Cedar Point Federal Credit Union is headquartered in Lexington Park and is the 12th largest credit union in the state of Maryland. It is also the 538th largest credit union in the nation. It was established in 1945 and as of June of 2020, it had grown to 104 employees and 44,520 members at 5 locations. Cedar Point Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership is open to those who live, work, regularly conduct business, worship, or attend school in, and businesses and other legal entities located in Calvert, Charles, and St. Mary’s Counties, Maryland and their immediate family.
See current membership details
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My only savings account
Being a credit union they are very responsible with my deposits. I have deposited and withdrawn much money over the years. This is my 15th year with this bank, my savings account was originally set up when I was young. Staff are very helpful and willing to respond to and correct any errors that may occur regarding your savings account.
Review of Cedar Point Federal Credit Union
Cedar Point Federal Credit Union serves the populations in Charles, Calvert, and St. Mary's counties in southern Maryland. When compared to other banks in the area, Cedar Point tends to offer better rates on savings accounts, IRAs, and loans. I've used this particular credit union twice to obtain loans. The first was a smaller personal loan for school and the second was a car loan. The process for obtaining both was easy and straightforward. The only negative aspect associated with this credit union concerns their website. Because they're a smaller institution, they don't put as much into an online presence as larger banks. However, important information regarding financial instruments is present and basic transactions are available.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 5234 |
| Year Chartered | 1945 |
| Employees | 104 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.43% |
| Return on Equity - YTD | 4.35% |
| Annual Interest Income | $8.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $622.2MM$529.7MM |
| Loans | Q2 2020vs Q2 2019 | $245.5MM$230.2MM |
| Deposits | Q2 2020vs Q2 2019 | $560.1MM$475.2MM |
| Equity Capital | Q2 2020vs Q2 2019 | $58.9MM$52.8MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $996.00K$863.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $4.4MM$1.4MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$536.00K |