Money One Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
3.01%	Reward Checking	Kasasa Cash 1.83% - National Average
1.01%	Reward Savings	Kasasa Saver 0.80% - National Average
0.75%	Money Market	Premium Insured Money Market Account 0.85% - Ally Bank Money Market Account

View all Money One Federal Credit Union rates »

Overview / Commentary

www.moneyonefcu.org

301-925-4600

9800 Technology Way
Largo, MD 20774

Money One Federal Credit Union is headquartered in LARGO and is the 32^nd largest credit union in the state of Maryland. It is also the 1,380^th largest credit union in the nation. It was established in 1951 and as of March of 2017, it had grown to 33 employees and 12,471 members at 2 locations. Money One Federal Credit Union's money market rates are 70% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Money One Federal Credit Union is open to the following: (1) those who live in zip codes 20607; 20608; 20613; 20623; 20705; 20706; 20707; 20708; 20710; 20712; 20715; 20716; 20720; 20721; 20722; 20735; 20737; 20740; 20743; 20744; 20745; 20746; 20747; 20748; 20762; 20769; 20770; 20772; 20774; 20781; 20782; 20783; 20784; 20785; (2) joining Gifts for Easter Seals (must bring a completed donation form to one of the credit union's offices); (3) employees or members of over 100 area Select Employer Groups.
See current membership details

Once You Get It Set Up, It Seems To Run Smoothly

Posted by: codebank | May 21, 2013

It took me over a month to get an online application for reward checking set up with this CU. I realize it is a small CU, and I am out of state, so I give them a little leeway. But emails went unanswered for days. When I called the custonmer service line, hold times were excruciating. I got conflicting information about who was handling opening the account, what requirements had been recieved or were still outstanding...it was just a huge pain.

They even had to mail the debit cards twice because first ones went missing, and the second time only I rec'd one and had to call in (with horrid hold time) and ask for one to be sent to my joint acct holder.

Now that the account is finally enstated, funded and linked to my hub, all seems to run fine. The rewards interest is paid each month, and I am notified via email of it. Debit cards work fine - important for a rewards acct! Haven't been charged for ATM use at coop CUs here locally.

So despite my initial exasperation - I'm keeping the acct, and it appears to work as advertised.

Comment

10

Terrible Customer Service, Bad Policies

Posted by: alainacarter | May 9, 2016

It took over a week for them to resolve my pin number issue with my new card when I opened an account, rendering it useless during that time. I received every excuse for it not working - including that there was a 'block' on my card because I did not have the minimum $10 in a savings account. No where was this $10 minimum disclosed in any of the info for opening a Kasasa account. I made Kasasa aware of this institution putting a block on my account for unknown stipulations that were never disclosed. They agreed that the premise of a Kasasa account was FREE checking with NO MINIMUMS in any other account required after the initial $50 deposit.

Also, I received a notice that I had been 'declined' for remote deposit with absolutely no explanation. I have never heard of a banking institution that declines the ability for their customers to make eDeposits - it is absolutely unheard of, but just adds to the list of bad customer service experiences I have had in such a short time with MoneyOne.

Comment

1

Lack Of Understanding Money One's Denial

Posted by: OldKid39 | Sep 4, 2013

I applied online to Money One for an interest bearing checking account. I was denied supposedly because of "too many bank inquiries". I've asked what does inquiring about banks' rates of interest and their requirements and restrictions associated with such accounts have anything to do with being denied? So far my inquiry to their managment has been met with leaving messages and getting no response.

You could understand if I were applying for a loan but this is an application for a checking account in which I'm willing to give them my money, up to $10,000 to earn interest under their rules.

I saw a similar post and feel they are indiscriminately and arbitrarily making these decisions. Based on other negative responses about this credit union's lack of customer service, I probably should be glad I was denied. But I still feel they have no right for such descrimination without realistic justification.

Comment

8

Failed To Open An Account For Very Fishy Reasons....

Posted by: depdc | Jul 15, 2013

Attempted to set up an account. I live/work in the local area, but I was doing everything online, because location is not very convenient for me.

Initially, everything seemed to be going smoothly (I am about 800 credit score, etc.), including online identity/credit verification with very specific personalized questions. A week later they declined to open an account with a cryptic letter that they could not verify my info and reference to Chex report. The person I was working with did not return multiple emails seeking clarification.

I ordered and reveiwed my Chex report and there were no problems there whatsoever. When I called the manager with questions about it she gave me some reasons that sounded fishy (given that I am looking at my correct Chex report as she speaks). In the end of her spiel she told me that they are a private institution and are free to open or not open an account as they see fit. Finally that sounded as something I could believe in.

I guess I can file a complaint or just press them a bit more, but it's not really worth it for $200 or so/yr after tax. Given this experience, I doubt I'd be happy as their customer even if I pushed through this nonsense. Besides who knows for how long the terms would remain at the current level.

I suspect that in reality they don't want to have new rewards members with large balances. Probably they lose money on those accounts.

4

Health

B

Data as of Q1 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #	7264
Year Chartered	1951
Employees	33
Primary Regulator

Profit Margin
Return on Assets - YTD	0.55%
Return on Equity - YTD	5.25%
Annual Interest Income	$1.5MM

Assets and Liabilities
Assets	Q1 2017vs Q1 2016	$126.4MM$121.3MM
Loans	Q1 2017vs Q1 2016	$97.6MM$96.5MM
Deposits	Q1 2017vs Q1 2016	$112.6MM$108.0MM
Equity Capital	Q1 2017vs Q1 2016	$13.0MM$12.8MM
Loan Loss Allowance	Q1 2017vs Q1 2016	$1.2MM$1.2MM
Unbacked Noncurrent Loans	Q1 2017vs Q1 2016	$2.4MM$1.5MM
Real Estate Owned	Q1 2017vs Q1 2016	$0$0

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