EdFed - The Educational Federal Credit Union

Overview / Commentary
7800 SW 117th Ave
Miami, FL 33183-3825

EdFed - The Educational Federal Credit Union is headquartered in Miami and is the 17th largest credit union in the state of Florida. It is also the 293rd largest credit union in the nation. It was established in 1935 and as of December of 2023, it had grown to 302 employees and 99,280 members at 7 locations. EdFed - The Educational Federal Credit Union's CD rates are 4X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in EdFed is open to employees and students of Miami-Dade County Public Schools, Miami-Dade College, Christ Fellowship and Academy, Dade Christian School, Mater Academy East Charter Middle/High School, The Thinking Child Christian Academy, Charter Schools Sponsored by Miami-Dade Public Schools, and Balere Language Academy. Membership is also open to employees of United Teachers of Dade and members of Alliance for Early Care & Education. Immediate family and household members are also eligible to join.
See current membership details

Reviews (4)

Great Credit Union!

This CU is a great place to do business with. The Staff is friendly and are attentive to your needs. There are Bi-Lingual staff on site. They are responsive to questions and concerns and are very competitive when it come to what they offer!

South Florida Educational Credit Union

Posted by: |

South florida educational credit union has a very small history with me but within the month i have been there it has become my favorite credit union/ bank i have been a part of. The union is for any students or teachers from the florida's teachers union you get many benefits from being a member.One of my favorite things about this bank is they give me huge discounts on movie tickets when i buy there and sometimes free tickets for my friends !Although my fav benefit from the union is there rates on loans and credit cards guarrented the lowest apr you can find.The banks staff has always been very helpful and friendly and seem to really care about there customers ive never left without a smile on my face i would recommened anyone who is able to join to this union to join :)

Personal Loan

Posted by: |

If I could rate the below a 1 DONE... I was not offered a loan after being with them for 2 decades. Because of the pandemic I was out of work for 3 months and placed on FMLA-380F. My source of income dropped but returned back to work making my year to date income from the company less than it would be. Managerz denied it because of this reason. When she asked if she needs verification of length of employment with my company she then turns and says you have a derogatory remark which should not disqualify me from a loan with a high FICO score that I have.
This institution has little regards for others and did not even approach me with other options which I brought to their attention. Mangerz could not help me or rather I lie on my application to get a loan. I am upset with Miami and who they choose to give loans and have little regards for consumers who have been with them for years of servicing my needs. I smell prejudice!!! Waste of time after being with credit union ...not customer friendly. I should have been offered a lower amount if not the full amount

Not Business Friendly

Posted by: |

After banking at this institution for many years with substantial balances in my accounts, I inquired about opening a business checking account. I found that the SFEFCU is extremely customer unfriendly when it comes to business accounts. First, they require the customer to provide a certified copy of corporate organization documents. If you do not have a certified copy, obtaining it from the state requires a $30 fee and a two week turnaround time. No other bank I contacted requires this because they do their own homework on this issue. Second, the SFEFCU requires a copy of the company's operational agreement. The catch here is that by state law not all corporate entities are required to have an operational agreement. This means that if you want to open a business account with the SFEFCU you may need to draft such an agreement which could involve incurring legal fees. Next, the SFEFCU requires "resolution language" to open a business account. The representative I spoke to didn't even know what this is. Finally, once all the paperwork is gathered, it must be submitted to some Board at the SFEFCU. The Board can take up to two weeks to decide if your account will be approved. So to summarize, if you do not have a certified copy of your corporate documents opening a business account at the SFEFCU can take up to a month, not to mention the hassle of providing them with documentation almost no other bank requires. Seriously?


Health Grade Components

NCUA #176
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD4.27%
Annual Interest Income$51.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.61B$1.6B
LoansQ4 2023vs Q4 2022$834.4MM$766.9MM
DepositsQ4 2023vs Q4 2022$1.37B$1.39B
Equity CapitalQ4 2023vs Q4 2022$213.8MM$189MM
Loan Loss AllowanceQ4 2023vs Q4 2022$4.5MM$1.9MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$3.3MM$1.5MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not EdFed - The Educational 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.

EdFed - The Educational Federal Credit Union Savings Account Rates

0.55%--IRA Savings
0.55%--Health Savings
0.55%--Coverdell Edcuation Savings
0.25%$100-Prime Savings
0.25%--Special Savings
0.25%$100-Student Savings

EdFed - The Educational Federal Credit Union Money Market Rates

1.01%*$50k*-Money Market
OTHER TIERS: 0.05% Up to $2.5k | 0.15% $2.5k - $50k

EdFed - The Educational Federal Credit Union Checking Account Rates

0.05%--Checking Account
0.05%--Student Checking Account

EdFed - The Educational Federal Credit Union CD Rates

5.18%$100k-6 Month Jumbo CD
5.13%$1k-6 Month CD
4.50%$100k-9 Month Jumbo CD
4.45%$1k-9 Month CD
3.61%$100k-12 Month Jumbo CD
3.56%$1k-12 Month CD
3.35%$100k-60 Month Jumbo CD
3.30%$1k-60 Month CD
3.10%$100k-48 Month Jumbo CD
3.05%$1k-48 Month CD
2.84%$100k-36 Month Jumbo CD
2.79%$1k-36 Month CD
2.58%$100k-24 Month Jumbo CD
2.53%$1k-24 Month CD
2.33%$100k-18 Month Jumbo CD
2.28%$1k-18 Month CD
0.80%$100k-3 Month Jumbo CD
0.75%$1k-3 Month CD

EdFed - The Educational Federal Credit Union IRA Rates

5.18%$100k-6 Month Jumbo IRA
5.13%$1k-6 Month IRA
4.50%$100k-9 Month Jumbo IRA
4.45%$1k-9 Month IRA
3.61%$100k-12 Month Jumbo IRA
3.56%$1k-12 Month IRA
3.35%$100k-60 Month Jumbo IRA
3.30%$1k-60 Month IRA
3.10%$100k-48 Month Jumbo IRA
3.05%$1k-48 Month IRA
2.84%$100k-36 Month Jumbo IRA
2.79%$1k-36 Month IRA
2.58%$100k-24 Month Jumbo IRA
2.53%$1k-24 Month IRA
2.33%$100k-18 Month Jumbo IRA
2.28%$1k-18 Month IRA
0.80%$100k-3 Month Jumbo IRA
0.75%$1k-3 Month IRA

EdFed - The Educational Federal Credit Union Locations
Branch Office17500 S Dixie HwyMiami, FL 33157
Branch Office1498 NE 2nd AveMiami, FL 33132
Branch Office5890 NW 158th StMiami Lakes, FL 33014-6722
Branch Office16460 SW 304th StHomestead, FL 33033-3260
Branch Office7800 SW 117th AveMiami, FL 33183-3825
Branch Office18975 NW 2nd AveMiami, FL 33169
Branch Office2310 SW 27th AveMiami, FL 33145-3642

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