Lafayette Federal Credit Union

Overview / Commentary
2701 Tower Oaks Blvd
Rockville, MD 20852

Lafayette Federal Credit Union is headquartered in Rockville and is the 9th largest credit union in the state of Maryland. It is also the 417th largest credit union in the nation. It was established in 1935 and as of December of 2020, it had grown to 125 employees and 29,999 members at 8 locations. Lafayette Federal Credit Union's savings rates are 44% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Lafayette Federal Credit Union is open to anyone who joins the Home Ownership Financial Literacy Council ($10 fee). Residents of Maryland, Virginia, or Washington, D.C. who belong to the American Consumer Council (can join through the Credit Union's online application) are eligible to join. Also eligible are those who live or work in the Potomac, Maryland area; live, work, worship, or attend school in Washington, D.C.; or are employed by any of nearly 200 Select Employer Groups.
See current membership details

Related Posts

Existing Members Only - Lafayette FCU Adds Limited-Time 20-Mo Special CD - 11/4/2020

Lafayette Federal Credit Union (easy membership) has added a 20-month Special Thanksgiving Share Certificate for existing members. $500 min/$100k max deposit.

1,85% For 20 Months - Avail Only Nov 10-30 At Easy To Join Credit Union (Existing Members Only) - 11/2/2020

Lafayette FCU. If not Maryland or Va resident, anyone can join by an inexpensive one time membership contribution. Moderator Note: This special is only for existing members as of 10/31/20.

Lafayette FCU 1 Year, 2 Year, 5 Year CD's: 1.61%, 1.71%, 2.02% - 6/1/2020

With Advancial FCU drastically slashing its CD rates today, Lafayette FCU is the new rate leader for fixed-rate certificates. The minimum is just $500. Anyone, nationwide, can join, for $10. Don't expect these rates to last!

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Reviews (4)

Account Opened Online And Wire Funded In Two Days

Posted by: |

* Paid $10 one time fee to join Home Ownership Financial Literacy Council
* ChexSystem instead of normal credit pull
* Uploaded required documents online
* Very helpful CSRs
* Good CD rates

Account Opening And CD's

Posted by: |

Opening an account went smoothly, funding CD's with a wire, smoothly. CSR assigned to my account opening has been responsive and diligent in providing documents, POD request fulfilled, etc.
So far, has been a great alternative to place maturing CD's that matured this month. 2nd best to Advancial on rates.

Stiff EWP Regular And IRA CD Penalties

Posted by: |

Interest is paid quarterly. EWP penalties below:

7-month, 90 days of dividends*
1-year, 180 days of dividends
2-year, 270 days of dividends
3-year, 360 days of dividends
4-year, 480 days of dividends
5-year, 600 days of dividends

Penalties for the variable-rate certificates and IRA certificates will be imposed on amounts withdrawn whether earned or not at the rate paid or payable for the term as follows:
18-month, 180 days of dividends
3-year, 360 days of dividends
5-year, 600 days of dividends

Training At The Bank

Posted by: |

It would be great if the tellers were trained adequately and soundly. This is not the case--investing in human capital pays in the long run because customers will stay.


Health Grade Components

NCUA #619
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD3.63%
Return on Equity - YTD38.23%
Annual Interest Income$37.5MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$882.4MM$681.4MM
LoansQ4 2020vs Q4 2019$708.6MM$561.7MM
DepositsQ4 2020vs Q4 2019$715.8MM$557.1MM
Equity CapitalQ4 2020vs Q4 2019$81.5MM$50.3MM
Secondary CapitalQ4 2020vs Q4 2019$7.5MM
Loan Loss AllowanceQ4 2020vs Q4 2019$10.1MM$3.1MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$5.5MM$7.9MM
Real Estate OwnedQ4 2020vs Q4 2019$0$223.00K
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Always verify rates and promotions with the bank or credit union. We are not Lafayette 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.

Lafayette Federal Credit Union Savings Account Rates

0.75%*$250k*$100mPremier Savings
OTHER TIERS: 0.30% $50k - $100k | 0.40% $100k - $150k | 0.50% $150k - $250k
0.50%--IRA Savings
0.30%*$20k*-Preferred Savings
OTHER TIERS: 0.20% $50 - $20k
0.10%$50-Business Share Savings
0.10%$50-Share Savings

Lafayette Federal Credit Union Money Market Rates

0.30%*$250k*-Business Money Market
OTHER TIERS: 0.05% $10k - $100k | 0.15% $100k - $250k
0.30%*$150k*-Personal Money Market
OTHER TIERS: 0.05% $2.5k - $25k | 0.15% $25k - $150k

Lafayette Federal Credit Union Checking Account Rates

1.00%--Business Commercial Checking
0.03%--Checking Account

Lafayette Federal Credit Union CD Rates

1.26%$500-5 Year Fixed CD
1.16%$500-4 Year Fixed CD
1.11%$50-5 Year Variable CD
1.01%$500-3 Year Fixed CD
0.90%$500-2 Year Fixed CD
0.90%$50-3 Year Variable CD
0.80%$500-1 Year Fixed CD
0.75%$50-18 Month Variable CD
0.70%$500-7 Month Fixed CD

Lafayette Federal Credit Union IRA Rates

1.26%$500-5 Year Fixed IRA
1.16%$500-4 Year Fixed IRA
1.11%$50-5 Year Variable IRA
1.01%$500-3 Year Fixed IRA
0.90%$50-3 Year Variable IRA
0.90%$500-2 Year Fixed IRA
0.80%$500-1 Year Fixed IRA
0.75%$50-18 Month Variable IRA

Lafayette Federal Credit Union Locations
Branch OfficeRoom c 1-80 1300 PENNSYLVANIA AVENUE, NWWASHINGTON, DC 20523-0001
Branch Office409 3RD ST SW STE 105 SUITE 105WASHINGTON, DC 20024-3215
Branch Office1381 Kenyon St NWWashington, DC 20010-2305
Branch Office7741 TUCKERMAN LNPOTOMAC, MD 20854-3266
Branch Office3535 University Blvd WKensington, MD 20895-1701
Corporate Office2701 Tower Oaks BlvdRockville, MD 20852
Branch Office6701 Lowell AveMclean, VA 22101
Branch Office2231 Crystal Dr Ste 150RArlington, VA 22202-3781

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