Educational Systems Federal Credit Union is headquartered in Greenbelt and is the 7th largest credit union in the state of Maryland. It is also the 350th largest credit union in the nation. It was established in 1955 and as of June of 2023, it had grown to 203 employees and 86,723 members at 14 locations. Educational Systems Federal Credit Union's CD rates are 5X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Educational Systems Federal Credit Union is open to those who work or volunteer for, or are a student, retiree, or alumni of a public or private school or school system, a public or private college or university, or an education-related organization by joining the Support Education Foundation.
Employees, students (and parents) of the public school systems in the Maryland counties of Anne Arundel, Calvert, Caroline, Charles, Frederick, Montgomery, Prince George’s, St. Mary’s or Talbot qualify for membership. Employees, students (and parents) of the College of Southern Maryland, Frederick Community College, Howard Community County, Montgomery College, Montgomery College Alumni Association, Prince George’s Community College and Prince George’s Community College alumni are also eligible to join. Membership is also open to those who live or work in St. Mary's County, Maryland.See current membership details
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Wonderful Credit Union
This credit union has wonderful customer service. They have always been able to answer my questions. When I go to one of their centers in person, I am always greeted by someone right away and the lines move fast. The online banking service is great. I have never had any issues. My overall experience with the credit union is very positive.
Avoid Avoid Avoid!!!!!
0 stars. This is the worst bank I have ever dealt with. There are always issues with their systems inconveniencing you in one way or another and they have the rudest tellers at the Bowie branch that I have encountered in a bank setting. If you are thinking about getting an account here I would think again! There is literally no way for me to pull up my account number online or on their app. When I called they told me that I can either go into the branch to get it or have them mail it to me. AMAZING!!!!
ABSOLUTELY HORRIBLE EXPERIENCE AT ESFCU!!!!
ABSOLUTELY HORRIBLE EXPERIENCE at ROCKVILLE EDUCATIONAL SYSTEMS FCU!!!!
I applied for an Used Auto Loan and got a "FULL APPROVAL" letter for a $40,000 Loan with my exceptionally high 791 Credit Score.
I went into the Rockville Branch to get a check for the car so I could send it to the Dealer in New Jersey where the car was located.
I was then told by ESFCU the car HAD to be "MD INSPECTED" prior to getting the check. I said, that's impossible as the dealer is NOT going to release the car until it is FULLY PAID FOR nor can the the NJ dealer "MD INSPECT the car" in New Jersey. It's a CATCH-22!!!!
I explained to ESFCU that I had already had the car "FULLY INSPECTED" by an Authorized BMW Dealership AND had a full report that showed the car had passed more than a 100 point inspection with FLYING COLORS. I gave them a copy of the BMW Inspection Report.
With only 42,000 miles on it, the only thing the car needed was a new battery which was replaced under warranty as the car is still 100% WARRANTED UNDER THE BUMPER TO BUMPER 4 YEAR/50,000 MILE FACTORY WARRANTY that includes ALL MAINTENANCE ITEMS too. But that's NOT good enough for the INEPT IDIOTS at ESFCU.
So then ESFCU said, IF I CAN PROVE MY INCOME THEY WILL GIVE ME THE CHECK FOR THE CAR and they will OVERLOOK THE MD INSPECTION "FOR NOW" UNTIL I get the car inspected down here in MD once I receive it in shipment. ESFCU could NOT EXPLAIN to me why it was necessary for me to prove my income as I was already "fully approved" by them.
ESFCU told me they needed my 2014 Tax Return to "prove my income". I make well into the 6 figures so I said, NO PROBLEM. I went all the way back home and got my 2014 tax return. I also brought a copy of my other bank's statement at Sandy Spring Bank SHOWING MY CURRENT BALANCE AS OF THAT DAY 3/1/16. I carry a "7" figure balance so I could easily pay cash for the car if I choose too, but I wanted to take advantage of the low used auto loan interest rates.
I get back to the Rockville ESFCU Branch with my 2014 Tax Return and then they decided I needed both my 2014 AND 2013 Tax Returns. Enough is enough, tired of being "JERKED AROUND" I went to my other bank (Sandy Spring Bank) and got a certified "Cashiers Check" for the $40,000 in order to "just pay cash" and I sent it to the NJ Dealer.
ESFCU acted as if I was going to turn a $40,000 car into a paperweight and never get it MD INSPECTED and therefore never be able to drive it legally nor get tags for it??? This is insane and they are STUPID, STUPID, STUPID IDIOTS. They are TOTALLY CLUELESS with guidelines for making auto loans that make ABSOLUTELY NO SENSE WHATSOEVER!!!!
Funny thing is, I borrowed $27,000 from MCTFCU about 3 years ago for my current 2008 BMW BEFORE it was taken over by ESFCU and I had absolutely NO PROBLEM getting the loan for a car that I had located and purchased in N. California. NO, It had NOT BEEN MD INSPECTED at the time I got the loan. I had it shipped it back to MD where I got it MD INSPECTED and I currently drive it today until I get this newer 2012 and sell my current 2008 model.
Further, I still make payments on this $27,000 loan to ESFCU and have had a perfect payment record for 3 years as I always make my payments a month ahead of when they are due so THEY ARE NEVER EVER LATE.
I am the PERFECT LOAN CUSTOMER WITH ZERO RISK BUT these people at ESFCU are TOTALLY CLUELESS!!!! AND THEREFORE, THEY LOSE BUSINESS FROM QUALITY CUSTOMERS LIKE MYSELF. THIS TRULY DOES MAKE THEM "ARCAIC IDIOTS"!!!!
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 10696 |
| Year Chartered | 1955 |
| Employees | 203 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.64% |
| Return on Equity - YTD | 9.6% |
| Annual Interest Income | $23.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.31B$1.24B |
| Loans | Q2 2023vs Q2 2022 | $779.9MM$776.4MM |
| Deposits | Q2 2023vs Q2 2022 | $1.12B$1.09B |
| Equity Capital | Q2 2023vs Q2 2022 | $85.8MM$92.7MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$3.3MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.7MM$2.5MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
