EdFed - The Educational Federal Credit Union
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 285th largest credit union in the nation. It was established in 1935 and as of March of 2025, it had grown to 314 employees and 110,471 members at 8 locations. EdFed - The Educational Federal Credit Union's CD rates are 4X the national average, and it boasts 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
Excellent Credit Union
i been with them for years and i have no complaints. theyre consistently ranked of the best healthiest banks.
great customer service.
as other credit unions, lower interest rates than big banks
no monthly fee in checkings nor savings.
my suggestion, leave the big banks, and choose a good credit union.
the only drawback, credit unions are no match for savings account interest rates from online banks such as capital one, Marcus (popular online banks)
other less popular but great online banks with competitive rates i have used are forbright, everbank, synchrony bank
Personal Loan
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
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 176 |
| Year Chartered | 1935 |
| Employees | 314 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.75% |
| Return on Equity - YTD | 5.24% |
| Annual Interest Income | $16.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $1.72B$1.64B |
| Loans | Q1 2025vs Q1 2024 | $961.8MM$850MM |
| Deposits | Q1 2025vs Q1 2024 | $1.45B$1.4B |
| Equity Capital | Q1 2025vs Q1 2024 | $242.1MM$215.2MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $5.9MM$3.8MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $3.9MM$2.9MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |