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 19th largest credit union in the state of Maryland. It is also the 737th largest credit union in the nation. It was established in 1935 and as of December of 2019, it had grown to 80 employees and 24,695 members at 6 locations. FedChoice Federal Credit Union has a B+ 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

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Reviews (3)

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!
..."

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
B+

Health Grade Components

Overall
NCUA #150
Year Chartered1935
Employees80
Primary Regulator
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD10.11%
Annual Interest Income$17.5MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$357.1MM$372.9MM
LoansQ4 2019vs Q4 2018$211.1MM$208.4MM
DepositsQ4 2019vs Q4 2018$314.9MM$335.6MM
Equity CapitalQ4 2019vs Q4 2018$35.6MM$31.5MM
Loan Loss AllowanceQ4 2019vs Q4 2018$9.0MM$10.8MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$1.9MM$1.7MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates

Rates for FedChoice Federal Credit Union are currently being reviewed.

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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