Mid-Atlantic Federal Credit Union is headquartered in Germantown and is the 22nd largest credit union in the state of Maryland. It is also the 823rd largest credit union in the nation. It was established in 1968 and as of June of 2023, it had grown to 60 employees and 19,594 members at 4 locations. Mid-Atlantic Federal Credit Union's CD rates are 6X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Mid-Atlantic Federal Credit Union is open to those who live, work, worship, or attend school in Montgomery County, Maryland. Immediate family and household members of anyone eligible to join also qualify for membership.
See current membership details
Lousy Customer Service
Customer service is all any business has going for it. Products are all the same but your customer service process and your employees (face & voice) of the business is paramount. I have on several occasions found Mid Atlantic customer service to be one of the worst in banking I've ever encountered. Not so much the tellers who are very pleasant but the management stinks. Th3e supervisors at member services are lousy and the call center is a mess. I encountered a problem with my account and it took me talking to 5 different reps to which I received no real answers to my problem and was left on hold twice to which some other rep picked up and I had to explain why I was calling all over again. I then went to on line banking and sent an email. Called back the next day and was told by a not so nice rep that her supervisor has sent me an email response that she will contact me next week Tuesday but until then I don't have access to debit card. I have to come into the bank to retrieve funds... but it's a holiday weekend and they'll be closed for the next three days. This is outrages and non customer friendly to you have funds but we can't do anything about you having access to them via your debit card until we return from a holiday weekend. What does your customer do for their funds over that holiday weekend. This bank has really declined in the last 3 years as far as I'm concerned they are really bad on providing their customers service.
Unreasonable Fees
I put savings in an account at Mid-Atlantic and logged in years later to see that my savings had halved due to a recurring fee that I'd been getting. They did not send me statements and refused to provide any statements beyond a year so I could see where my savings had disappeared to in fines. I wasn't using the account at all, so was not using the money, but saving it away (or so I thought). They refunded a small amount of the fee and told me that I should have been monitoring my account more regularly for potential fees. This was an account that I wasn't using as my primary account so when I moved and didn't update my address online, they assessed a "bad address fee" monthly which almost drained my account had I not logged in to check on it. They were unsympathetic and I absolutely would not recommend them.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 18716 |
| Year Chartered | 1968 |
| Employees | 60 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.63% |
| Return on Equity - YTD | 19.4% |
| Annual Interest Income | $8.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $409.7MM$428.6MM |
| Loans | Q2 2023vs Q2 2022 | $322.8MM$324.9MM |
| Deposits | Q2 2023vs Q2 2022 | $370.9MM$394.6MM |
| Equity Capital | Q2 2023vs Q2 2022 | $34.8MM$29.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $1.4MM$1.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $1.0MM$326.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |