Commonwealth One Federal Credit Union


Overview / Commentary
703-823-5211
4875 Eisenhower Ave
Alexandria, VA 22304-4886

Commonwealth One Federal Credit Union is headquartered in Alexandria and is the 24th largest credit union in the state of Virginia. It is also the 719th largest credit union in the nation. It was established in 1944 and as of June of 2019, it had grown to 75 employees and 33,714 members at 6 locations. Commonwealth One Federal Credit Union's money market rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in CommonWealth One Federal Credit Union is open to members of the Virginia Consumer Council who live in Kentucky, Maryland, North Carolina, Tennessee, Virginia, Washington D.C., or West Virginia. Individuals who live, work, worship, volunteer or attend school in Washington D.C., the Virginia counties of Warren or Clarke, or the Virginia cities of Harrisonburg and Alexandria are also eligible to join. Membership is also open to employees of more than 200 Sponsor Groups and to immediate family of current Credit Union members.
See current membership details

Related Posts

CommonWealth One Federal Credit Union Has 60-Mo Jumbo CD, 3.21% APY - 9/2/2019

CommonWealth One Federal Credit Union (easy membership) 60-month Jumbo Share Certificate has tiered APYs: 3.21% APY ($100k min) and 3.16% APY ($50k min). Also as an IRA.

Reviews (4)

Excellent Credit Union To Work With...

Posted by: mbaker80 | Aug 3, 2017

I've been a member of CommonWealth One for over 2 years and my experience has been phenomenal. The Harrisonburg location has been a pleasure working with and has always treated me like a member and not just a number. Their loan rates are low and they also have some of the best certificate rates. I recommend them to everyone.

Worked Me Like A True Scam Artist Would.

Posted by: zipthecat | Oct 25, 2019

Worked me like a true scam artist would. Found Jumbo CD rate at Bankrate.com and tried to use their online "open an account". Figured I could put some IRA money in and stay out of stocks for awhile. Summary of the experience was that you call them every few days and ask what is the hold up. They seem to make up the process as they go. First, they wanted two sides of my ID, then next time I called, it was they wanted to ask me questions from my credit report to confirm my ID (All this and I wanted to make a large DEPOSIT). By the fourth call, they said they "couldn't find anything wrong or missing from my application", but wanted to advise me that the rate had "changed". In other words when I applied four weeks ago, you had a higher rate and now it is lower, I said. "Yes" I was told. I only gave them two stars because they did call me back consistently. The last call I made (call #5), I was told that they had a new policy and you must upload a certificate to prove you had joined the free association that gives you rights to be a member. I had joined a month ago, but their online system did not ask for this 'proof' and each time I called no one asked for this. Until I lost the good rate and they were hard pressed to find another excuse-then it was "we need proof of your association that allows you to join the credit union". I was never a big fan of processes, but I can see how no one would make it through this ad hoc gauntlet to actually get an account. What would they ask for someday when I want my money back? If this sounds like fun, give it a try for yourself. Otherwise, stay away.

Membership Denial

Field of membership is mis-stated on their website. Even if you are a member of the Virginia chapter of the ACC, they will deny if you do not have a current address in VA.

Beware Of Hard Credit Pull And Membership Denial

Posted by: ErikO | Sep 10, 2019

This Credit Union has a restrictive membership policy that is not explained on the website. It says you can become a member by joining the Virginia Consumer Council but it doesn’t explain you have to live in states surrounding DC. I was already a member of the VCC before applying to this CU but moved away from the area and was denied.
But here is the kicker: they do a HARD CREDIT PULL even before they evaluate you for membership. How crazy is that?
So now I have a hard credit pull on my credit report for NOTHING.
Thanks for nothing guys.



Health

Health Grade Components

Overall
NCUA #5134
Year Chartered1944
Employees75
Primary Regulator
Profit Margin
Return on Assets - YTD0.53%
Return on Equity - YTD5.04%
Annual Interest Income$7.3MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$364.3MM$353.3MM
LoansQ2 2019vs Q2 2018$259.1MM$249.5MM
DepositsQ2 2019vs Q2 2018$324.1MM$315.9MM
Equity CapitalQ2 2019vs Q2 2018$38.1MM$35.4MM
Loan Loss AllowanceQ2 2019vs Q2 2018$2.0MM$1.7MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$1.9MM$1.2MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Commonwealth One 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.

Commonwealth One Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%*-$1kYouth Savings Account
OTHER TIERS: 0.07% $1k - $10k | 0.08% $10k - $25k | 0.09% $25k - $50k | 0.10% $50k+
0.10%*$50k*-Share Savings
OTHER TIERS: 0.05% Up to $2.5k | 0.07% $2.5k - $10k | 0.08% $10k - $25k | 0.09% $25k - $50k
0.10%*$50k*-Vacation Club
OTHER TIERS: 0.05% Up to $2.5k | 0.07% $2.5k - $10k | 0.08% $10k - $25k | 0.09% $25k - $50k
0.10%*$50k*-IRA Share
OTHER TIERS: 0.05% Up to $2.5k | 0.07% $2.5k - $10k | 0.08% $10k - $25k | 0.09% $25k - $50k
0.10%*$50k*-Holiday Club
OTHER TIERS: 0.05% Up to $2.5k | 0.07% $2.5k - $10k | 0.08% $10k - $25k | 0.09% $25k - $50k

Commonwealth One Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*$50k*-Money Management Plus
OTHER TIERS: 0.63% Up to $25k | 0.73% $25k - $50k
0.50%*$10k*-Money Management
OTHER TIERS: 0.30% Up to $2.5k | 0.40% $2.5k - $10k

Commonwealth One Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$10k-Relationship PLUS Checking

Commonwealth One Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.80%*$100k*-60 Month Jumbo Share Certificate
OTHER TIERS: 2.75% $50k - $100k
2.70%$1k-60 Month Share Certificate
2.60%*$100k*-48 Month Jumbo Share Certificate
OTHER TIERS: 2.55% $50k - $100k
2.50%$1k-48 Month Share Certificate
2.50%*$100k*-36 Month Jumbo Share Certificate
OTHER TIERS: 2.45% $50k - $100k
2.40%$1k-36 Month Share Certificate
2.40%*$100k*-24 Month Jumbo Share Certificate
OTHER TIERS: 2.35% $50k - $100k
2.30%$1k-24 Month Share Certificate
2.07%*$100k*-18 Month Jumbo Share Certificate
OTHER TIERS: 2.02% $50k - $100k
1.97%$1k-18 Month Share Certificate
1.97%*$100k*-12 Month Jumbo Share Certificate
OTHER TIERS: 1.92% $50k - $100k
1.87%$1k-12 Month Share Certificate
1.51%$50-15 Month Share Certificate Add-on Featured Rate
1.00%$500-6 Month Share Certificate

Commonwealth One Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.80%*$100k*-60 Month Jumbo IRA Certificate
OTHER TIERS: 2.75% $50k - $100k
2.70%$1k-60 Month IRA Certificate
2.60%*$100k*-48 Month Jumbo IRA Certificate
OTHER TIERS: 2.55% $50k - $100k
2.50%$1k-48 Month IRA Certificate
2.50%*$100k*-36 Month Jumbo IRA Certificate
OTHER TIERS: 2.45% $50k - $100k
2.40%$1k-36 Month IRA Certificate
2.40%*$100k*-24 Month Jumbo IRA Certificate
OTHER TIERS: 2.35% $50k - $100k
2.30%$1k-24 Month IRA Certificate
2.07%*$100k*-18 Month Jumbo IRA Certificate
OTHER TIERS: 2.02% $50k - $100k
1.97%$1k-18 Month IRA Certificate
1.97%*$100k*-12 Month Jumbo IRA Certificate
OTHER TIERS: 1.92% $50k - $100k
1.87%$1k-12 Month IRA Certificate
1.51%$50-15 Month IRA Certificate Special
1.00%$500-6 Month IRA Certificate
Locations


Commonwealth One Federal Credit Union Locations
Branch Office170 Bluestone DrHarrisonburg, VA 22807-1008
Branch Office7701 Telegraph Rd Kingman BuildingAlexandria, VA 22315
Branch Office441 G St NW Ste 3M54Washington, DC 20548-0001
Branch Office3330 King StAlexandria, VA 22302
Branch Office4875 Eisenhower AveAlexandria, VA 22304-4886
Branch Office42 Terri DrHarrisonburg, VA 22802

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