Empower Federal Credit Union

Overview / Commentary
1 Member Way
Syracuse, NY 13212

Empower Federal Credit Union is headquartered in Syracuse and is the 10th largest credit union in the state of New York. It is also the 138th largest credit union in the nation. It was established in 1939 and as of June of 2020, it had grown to 546 employees and 213,956 members at 27 locations. Empower Federal Credit Union's money market rates are 48% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Empower Federal Credit Union is open to those who live, work, worship, or attend school in the following areas: (1) the Cities of Buffalo, Binghamton, Syracuse, and Utica; (2) the towns of Geddes, Cheektowaga, and Union; (3) Oswego County; (4) designated areas of Liverpool, Montgomery County, Village of New York Mills, City of Elmira (except census tract #5, West Elmira, and Big Flats), Village of Elmira Heights, Nedrow, and Village of Horseheads. Membership is also open to employees and members of over 300 Select Employee Groups.
See current membership details

Related Posts

Giveback Of 8% Announced For 2019 - 1/1/2020

As can happen each year at year end, Empower last night at midnight announced their giveback for 2019. While customary for the last several years, the giveback itself is not guaranteed to be awarded and the size is not guaranteed. This time there was a giveback and the size was set at 8%. For Empower CD owners, as an example: If your CD paid a nominal interest rate of 3.00% APY, your actual return after the giveback became 3.24%. However, the giveback is paid separately from your CD into your Empower savings, so the giveback money does not add on and compound going forward. But the giveback money can obviously be withdrawn and invested elsewhere . . or spent . . or whatever you wish. I know other credit unions feature givebacks. The dilemma for me: I do not know which ones . . except for Empower of course. I surely wish I did know.  That's real money they are giving back and I'd like to get more if I could.

View all posts from:

Reviews (2)

Empower Credit Union

Posted by: |

I have never banked with a credit union until I decided to open an account at Empower. I had heard great things about them for years from friends and work colleagues. I was tired of banking with other institutions because of crazy fees and ridiculous overdraft charges. I finally had enough and decided to go in and check out Empower to see what they had to offer. I was immediately impressed with the level of professionalism and friendliness I encountered as soon as I walked into the bank! The gentleman that helped me open the account was very helpful, kind, and patient. I was also surprised to find that the requirements to sign up for an account with Empower was easy and very doable for someone like me with a limited income. Only a $50 minimum deposit and I was able to open not only a checking account, but also a savings account with no additional cost! No annual fees, respectable overdraft charges with excellent overdraft protection, and I only needed to keep a minimum balance of $25 in my savings account. I also received a several books of checks for free and free debit transactions each month! They also offered direct deposit which is very convenient because I work a lot and don't always have the time to go and cash my checks. I was also offered a line of credit with great interest rates (which I politely turned down). I was also happy to learn that they have a program in which they help new homeowners purchase houses! They also offer a wide variety of savings and investment options, I can get my taxes done for a very reasonable fee, and they even have a free coin counter in house which is great because I love turning my change into cash to put into my account! Overall my experience with Empower was and continues to be amazing! I am completely satisfied and never happier that I decided to bank with them!

Amazing - Bye Bye Solvay Bank

Posted by: |

Once you try this organization, you will wonder how you banked anywhere else. once upon a time I was with Solvay Bank. Terrible, especially in comparison.
My wife and I have now moved everything over to Empower, and have not regretted it one bit.
Just the savings from fees is worth it. Rates are great and the customer service is second to none.

If you qualify to bank here - do it!


Health Grade Components

NCUA #3025
Year Chartered1939
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD6.97%
Annual Interest Income$44.9MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$2.29B$1.88B
LoansQ2 2020vs Q2 2019$1.70B$1.60B
DepositsQ2 2020vs Q2 2019$2.02B$1.63B
Equity CapitalQ2 2020vs Q2 2019$224.3MM$203.3MM
Loan Loss AllowanceQ2 2020vs Q2 2019$22.2MM$17.4MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$12.4MM$9.9MM
Real Estate OwnedQ2 2020vs Q2 2019$366.00K$749.00K
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Empower 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.

Empower Federal Credit Union Savings Account Rates

0.75%--Health Savings Account (HSA)
0.15%--Regular Share Savings
0.15%--IRA Share Account
0.15%--Club Accounts
0.15%--Business Share Savings

Empower Federal Credit Union Money Market Rates

0.65%$2.5k-Premium Money Market
0.65%$2.5k-Premium Money Market IRA
0.65%$2.5k-Business Money Market Account

Empower Federal Credit Union CD Rates

1.05%$500-5 Year Share Certificate
1.05%$500-10 Year Share Certificate
1.05%$500-Business 5 Year Share Certificate
1.05%$500-Business 10 Year Share Certificate
1.00%$500-4 Year Share Certificate
1.00%$500-Business 4 Year Share Certificate
0.90%$500-3 Year Share Certificate
0.90%$500-Business 3 Year Share Certificate
0.80%$500-30 Month Share Certificate
0.80%$500-Business 30 Month Share Certificate
0.75%$500-24 Month Share Certificate
0.75%$100-24 Month Generation Wealth Builder Share Certificate
0.75%$500-Business 24 Month Share Certificate
0.70%$500-18 Month Share Certificate
0.70%$500-Business 18 Month Share Certificate
0.65%$500-12 Month Share Certificate
0.65%$100-12 Month Generation Wealth Builder Share Certificate
0.65%$500-Business 12 Month Share Certificate
0.50%$500-6 Month Share Certificate
0.50%$500-Business 6 Month Share Certificate
0.40%$500-3 Month Share Certificate
0.40%$500-Business 3 Month Share Certificate

Empower Federal Credit Union IRA Rates

1.05%$500-5 Year IRA
1.05%$500-10 Year IRA
1.00%$500-4 Year IRA
0.90%$500-3 Year IRA
0.80%$500-30 Month IRA
0.75%$500-24 Month IRA
0.70%$500-18 Month IRA
0.65%$500-12 Month IRA
0.50%$500-6 Month IRA
0.40%$500-3 Month IRA


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.