Keesler Federal Credit Union is headquartered in Biloxi and is the largest credit union in the state of Mississippi. It is also the 89th largest credit union in the nation. It was established in 1947 and as of June of 2020, it had grown to 736 employees and 259,474 members at 35 locations. Keesler Federal Credit Union's money market rates are 3X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Keesler Federal Credit Union is open to the residents of Alabama, Louisiana, and Mississippi by joining the American Cancer Society Cancer Action Network. Also eligible to join are those who live, work, worship, or attend school in the Mississippi counties of Forrest, Hancock, Harrison, or Pearl River. Those who live, work, worship, or attend school in certain census tracts in Hinds or Jackson Counties (MS), Mobile County (AL), or Orleans or St. Tammany Parishes (LA) also qualify for membership. Military members who can use the services at Keesler Air Force Base or at Royal Air Force Bases in the UK are eligible to join, as are employees of more than 300 Select Employee Groups.
See current membership details
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7/13 - Step up CD: 21-mo (2.51%)/30-mo (3.1%)/Jumbo 21-mo (2.65%)/Jumbo 30-mo (3.21%)
5/28 - Keesler FCU Step Certificate 30 Month - Blended APY 3.10% or 3.21%
2/28 - Keesler New Promotion
Friendly, Prompt, Professional Customer Service
Joined KFCU via American Cancer Society.
Took a few hours, a few emails and a few calls.
Within 6 hours all done.
Next day wired in $ to open step up CD
Total 24 hours from start to finish
Very impressed with their customer service
Step up CD at 3.20 APY for 30 months is great
Highly recommend
Quickly And Easily Opened 30Mo Step Jumbo
I found KFCU to be easier than most local CUs to establish and fund accounts. Their online systems worked well and their representatives were reasonably fast to respond.
Joined Jan 21st
Eligibility : selected member of ACS CAN (Rep emailed form and they drafted $10 from my account).
Entered information/uploaded ID
Account was approved within minutes, pending final validation. Representative called next morning and account was funded from my checking account after verification of small deposits and I was given the account number (I did have to ask for the account number)
Wired the $ - No incoming wire fee! (wires received after 4:45 EST are not credited until next business day)
Must have rep set up the Step CD (can't do it on web site); they were quick, professional and hold times were reasonable.
Some confusion over STEP CD max of $250K. Still not sure if this is a real max or if the representative was guiding me to be within NCUA limit. I had 3 POD's on a joint account so not a problem exceeding the limits. Supervisor OK'd. Rep also mentioned LIMIT of 1 STEP CD per account.
Also, they emailed this morning reminding me to hurry and fund CD by Tuesday because rates (could) change on WEDNESDAYs!
edit: since I joined the wording has changed on eligibility to be restrictive to residents only:
"American Cancer Society Cancer Action Network – Residents of Louisiana and Mississippi Only"
Inconsistent CS And Field Of Membership
TLDR-inconsistent application criteria applied and lost or mis-placed my membership paperwork twice and failed to follow written instructions. Late in 2017, I attempted to join based on my current military service, which is posted on KFCU’s website as a basis for membership. KFCU declined my application b/o an unstated additional requirement that I also needed to live within their geographic area of service. (No mention of any other way I could qualify for membership.) In Aug 2018, KFCU had a 5% CD and there were reports on this website of KFCU allowing membership with no geo restriction as long as you donated to a cancer society/became a member of ACS CAN. So I contributed and joined. When the CD was nearing maturity, I emailed KFCU to confirm receipt of maturity instructions. Initially KFCU confirmed receipt, but then recalled that message and said they did not have my membership application, which I had previously mailed. KFCU also implied that I would have difficulty with my maturing CD if I did not re-supply the documentation. So I sent in a new membership application and had it notarized as instructed. Today my CD matured and it was rolled over at some ridiculous interest rate contrary to my written instructions. My conclusion is that KFCU is not really interested in serving their field of membership, as posted on its website, and adapts it to fit their needs. It’s success with the 5% CD led them to cut corners, fail to document items properly, and overwehlm their CS reps, who are generally very nice and helpful. I blame management for my bad experience and will be filing a complaint with NCUA.
Do NOT Deal With These People
Warning: I had the worst experience ever with this credit union. Their website says you can join by becoming a member through joining a cancer organization. I went through the online application process and got an email that I was approved. Then someone called me and said I had to live in Mississippi to be a member and my application was canceled. I had disclosed my address in the application!
The kicker: they still went ahead with a hard credit pull AND they withdrew a $5 opening deposit from my checking account at another bank. What kind of operation do these folks run? It’s outrageous. I do NOT recommend anyone deal with this place. BEWARE!
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 5561 |
| Year Chartered | 1947 |
| Employees | 736 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.87% |
| Return on Equity - YTD | 6.66% |
| Annual Interest Income | $60.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $3.39B$2.93B |
| Loans | Q2 2020vs Q2 2019 | $2.53B$2.31B |
| Deposits | Q2 2020vs Q2 2019 | $2.92B$2.43B |
| Equity Capital | Q2 2020vs Q2 2019 | $428.7MM$410.7MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $15.9MM$15.1MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $5.5MM$8.4MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $111.00K$115.00K |
