FedChoice Federal Credit Union


Overview / Commentary
800-969-6151
10001 Willowdale Rd
Lanham, MD 20706

FedChoice Federal Credit Union is headquartered in Lanham and is the 20th largest credit union in the state of Maryland. It is also the 774th largest credit union in the nation. It was established in 1935 and as of March of 2022, it had grown to 76 employees and 23,593 members at 6 locations. FedChoice Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to federal civilian employees, annuitants and their families in the Washington, D.C., Baltimore and Philadelphia metropolitan areas.
See current membership details

Reviews (4)

Extra 25 Basis Points On CD

FYI reference: https://www.fedchoice.org/checking-savings/share-certificates/

"...Members with a checking account and a certificate of deposit account earn 25 basis points more on the certificate than our regular rates.

Certificate of Deposit + Checking Account = Higher Dividend Rates on your Certificate!
..."

Loan Sharks

FYI: If you don't know, if you pass the grace period and make a partial payment you will be assessed a late fee until the full payment is made. For example, if your payment is due on the 15th of each month and you make a partial payment on the 26th (pass your grace period) you will be assessed $35.00. Furthermore, when you make another partial payment you will be assessed $35.00 until your full payment is complete. Therefore, just make your payment in full before the grace period to avoid these loan sharks excessive "pay day" loan sharking fees. Never again, fool me once, shame on you; fool me twice, shame on me.

Long Wait Times And Incompetent Service

Posted by: |

Every time I call there is a 30 minute wait time (even at 8:30 am). The hours are only 8:30 am to 4 pm so I always have to wait during prime work hours. I had to call in 5 times simply to apply to a simple account. I had to request the paperwork 3 times. They forgot to send it the first time due to a computer error. The second time they sent it in a sff format that cannot be opened by any normal application. The third time I finally received a pdf file. Then, I had to submit the paperwork 2 times. I faxed it in, but they didn't receive it. I never had anyone not receive a fax with a positive verification. I decided to just mail it. From this experience, I am going to highly recommend that anyone who values their sanity to use another credit union such as penfed. I am putting applications in elsewhere.

BAD CHOICE

Posted by: |

This credit union is so user unfriendly to the customer its mindboggling. First of all I should have shopped around for the best Credit Union around my local area. I didnt realize at the time that the limit of transactions from savings to checking accounts would come to affect my ability to manange my bill pay accounts, and God help me if I was on vacation and needed some cash but because I used my last transfer which is 6 mind you, not only will it lock your card out, you have to fax a request to make the 7th and subsequent transfers, before 4PM est, from Spain on a friday. You have to wait untill Monday there off on weekends. Happy Vacation.



Health

Health Grade Components

Overall
NCUA #150
Year Chartered1935
Employees76
Primary Regulator
Profit Margin
Return on Assets - YTD0.42%
Return on Equity - YTD5.75%
Annual Interest Income$3.2MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$437.1MM$411.0MM
LoansQ1 2022vs Q1 2021$252.0MM$222.1MM
DepositsQ1 2022vs Q1 2021$398.3MM$369.9MM
Equity CapitalQ1 2022vs Q1 2021$31.9MM$34.6MM
Loan Loss AllowanceQ1 2022vs Q1 2021$6.1MM$10.7MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$1.2MM$3.6MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not FedChoice 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.

FedChoice Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$20k*-IRA Share Account
OTHER TIERS: 0.15% $100 - $1.5k | 0.25% $1.5k - $20k
0.35%*$20k*-Coverdell Education Savings Account
OTHER TIERS: 0.15% $100 - $1.5k | 0.25% $1.5k - $20k
0.20%$50-Main Share Savings Account
0.20%$50-Special Savings Account
0.20%$50-Holiday Club

FedChoice Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$100k*-Earn More Money Market
OTHER TIERS: 0.20% $1.5k - $50k | 0.30% $50k - $100k
0.25%*$100k*-Money Market
OTHER TIERS: 0.10% $1.5k - $50k | 0.20% $50k - $100k

FedChoice Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%-$10kHigh Yield Checking Account
0.15%$1.5k-Premium Checking Account

FedChoice Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$50k-60 Month Mini-Jumbo Earn More Certificate
1.65%$500$50k60 Month Earn More Certificate
1.45%$50k-60 Month Mini-Jumbo Share Certificate
1.40%$500$50k60 Month Share Certificate
1.40%$50k-48 Month Mini-Jumbo Earn More Certificate
1.35%$500$50k48 Month Earn More Certificate
1.30%$50k-36 Month Mini-Jumbo Earn More Certificate
1.25%$500$50k36 Month Earn More Certificate
1.20%$50k-24 Month Mini-Jumbo Earn More Certificate
1.15%$50k-48 Month Mini-Jumbo Share Certificate
1.15%$500$50k24 Month Earn More Certificate
1.10%$500$50k48 Month Share Certificate
1.10%$50k-18 Month Mini-Jumbo Earn More Certificate
1.05%$50k-36 Month Mini-Jumbo Share Certificate
1.05%$500$50k18 Month Earn More Certificate
1.00%$500$50k36 Month Share Certificate
1.00%$50k-12 Month Mini-Jumbo Earn More Certificate
0.95%$50k-24 Month Mini-Jumbo Share Certificate
0.95%$500$50k12 Month Earn More Certificate
0.90%$500$50k24 Month Share Certificate
0.85%$50k-18 Month Mini-Jumbo Share Certificate
0.80%$500$50k18 Month Share Certificate
0.75%$50k-12 Month Mini-Jumbo Share Certificate
0.75%$50k-6 Month Mini-Jumbo Earn More Certificate
0.70%$500$50k12 Month Share Certificate
0.70%$500$50k6 Month Earn More Certificate
0.50%$50k-6 Month Mini-Jumbo Share Certificate
0.45%$500$50k6 Month Share Certificate

FedChoice Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$50k-60 Month Mini-Jumbo Earn More IRA Certificate
1.70%$50k-60 Month Mini-Jumbo Earn More ROTH IRA Certificate
1.70%$50k-60 Month Mini-Jumbo Earn More SEP IRA Certificate
1.65%$500-60 Month Earn More IRA Certificate
1.65%$500-60 Month Earn More ROTH IRA Certificate
1.65%$500-60 Month Earn More SEP IRA Certificate
1.45%$50k-60 Month IRA Mini-Jumbo Certificate
1.45%$50k-60 Month ROTH IRA Mini-Jumbo Certificate
1.45%$50k-60 Month SEP IRA Mini-Jumbo Certificate
1.40%$500-60 Month IRA Certificate
1.40%$500-60 Month ROTH IRA Certificate
1.40%$500-60 Month SEP IRA Certificate
1.10%$50k-18 Month Mini-Jumbo Earn More IRA Certificate
1.10%$50k-18 Month Mini-Jumbo Earn More ROTH IRA Certificate
1.10%$50k-18 Month Mini-Jumbo Earn More SEP IRA Certificate
1.05%$250-18 Month Earn More CESA
1.05%$500-18 Month Earn More IRA Certificate
1.05%$500-18 Month Earn More ROTH IRA Certificate
1.05%$500-18 Month Earn More SEP IRA Certificate
0.85%$50k-18 Month IRA Mini-Jumbo Certificate
0.85%$50k-18 Month ROTH IRA Mini-Jumbo Certificate
0.85%$50k-18 Month SEP IRA Mini-Jumbo Certificate
0.80%$500-18 Month IRA Certificate
0.80%$500-18 Month ROTH IRA Certificate
0.80%$500-18 Month SEP IRA Certificate
0.80%$250-18 Month CESA Certificate
Locations


FedChoice Federal Credit Union Locations
Branch Office2970 Market StPhiladelphia, PA 19104-5002
Branch Office900 Brentwood Rd NEWashington, DC 20066-9201
Branch Office5000 Ellin Rd Rm c1-100Lanham, MD 20706-1348
Branch Office99 New York Ave NEWashington, DC 20002-3325
Branch Office1111 Constitution Ave Rm 1716Washington, DC 20224-0001
Branch Office10001 Willowdale RdLanham, MD 20706-4321

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