Police and Fire Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
2.00%	5-year CD	5 Year CD 2.25% - Bank of Internet USA 60 Month CD
1.85%	4-year CD	4 Year CD 1.50% - Ally Bank Raise Your Rate 4-Year CD
1.70%	3-year CD	3 Year CD 1.60% - Ally Bank High Yield 3 Year CD

View all Police and Fire Federal Credit Union rates »

Overview / Commentary

www.pffcu.org

215-931-0300

901 Arch St
Philadelphia, PA 19107-2404

Police and Fire Federal Credit Union is headquartered in Philadelphia and is the 2^nd largest credit union in the state of Pennsylvania. It is also the 32^nd largest credit union in the nation. It was established in 1938 and as of June of 2017, it had grown to 646 employees and 263,059 members at 11 locations. Police and Fire Federal Credit Union's savings rates are 2X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Police and Fire Federal Credit Union is open to all residents of Delaware, New Jersey, or Pennsylvania through membership in the American Consumer Council. Membership is also open to active or retired Philadelphia Police officers or fire fighters, and to employees of Department of Treasury – US Secret Service, and over 400 Select Employer Groups.
See current membership details

Philadelphia Police and Fire -- the best place for your money!

Posted by: EdtheEducator | Dec 7, 2016

Banking with Philadelphia Police and Fire Federal Credit Union has been a reliable and consistent pleasure. I have opened several savings accounts with PFFCU: CDs, general savings, money market, and a checking account. In dealing with the staff I have found nothing but pleasant interactions and people willing to help any way they're able. In savings rates, I have found no other banking organization able to compete. My current money market account is thriving and I am happy to have it as a source of savings. Recently I had a transaction at PFFCU and was informed of a fantastic benefit offer if I opened a checking account. It was too good to pass up free money for a no-cost checking account, and in time I came to only use this account. PFFCU is a delight.

Comment

1

Review of PFFCU

Posted by: tabathamcdonald | Aug 30, 2017

I really like banking with PFFCU because they are a simple banking institution meant for people who just need a place to hold your money. I have a checking and savings account with the bank and also have a debit/atm card. The bank is local to the Philadelphia area so I usually always have a great customer service experience when I forget my website login or something. Whenever I go into a branch location, the tellers are always friendly and down to earth, not super "businessy" like other large banks. My only complaint is that there are no local branches where I am for school, so I always end up getting charged a fee when I need to take cash out. I know other institutions have "fee forgiveness" where they refund up to 2 or 3 atm fees per month, but this bank does not offer that.

Comment

1

Money Manipulation

Posted by: Mary Logue | Jul 5, 2016

Since "updating" their online banking web site Pffcu appears to be engaging in tansaction re-ordering that Increases consumer costs: The CFPB is concerned that overdraft practices employed by some financial institutions increase consumer costs. One such practice is commingling of all checks, bill payments, debit card transactions, and ATM withdrawals each day and processing the largest transactions first. This maximizes the number of transactions that will trigger an overdraft fee.
Essentially the CFPB has a hunch that banks are manipulating the order of your daily transactions to maximize the chances you’ll be charged an overdraft fee. Here’s an example: Say you’re a student with $50 in your account. You make 3 consecutive purchases for $10 each. That leaves you with $20, but you still need to buy a $40 book for class that evening. You decide to swipe your debit card anyway under the assumption you’ll be charged a $35 overdraft fee just once.

The CFPB says some banks will wait until the end of the day to deduct your daily purchases and start with the biggest purchase first. In this case, the $40 book is deducted first leaving the student with $10 then the three $10 transactions are deducted. That allows the bank to collect and overdraft fee two times instead of one. I have had numerous purchases made that according to my bank statement leave me with a positive balance but then a fee is withdrawn for the transaction When I question the credit union they always come back with some explanation as to how the deposit was actually made after the transaction took place but the retailor did not remove the funds from my account until some time later.( Pffcu also did not remove the funds from my available balance). So I made the transaction lacking in funds and a check is deposited before the funds leave my account and you charge me a fee because on paper I had no funds. Oh I get it -- The retailor not collecting the funds immediately should HELP me!! Pure manipulation!!!

Comment

1

Worst CU In The Area

Posted by: caroljones | Oct 10, 2017

PFFCU is the worst CU in the area. They constantly make mistakes, they take fees for services from the wrong account and they do not follow all of the policies and procedures required by the ABA. (I used to be a bank regulator.) The staff is rude and when they make a mistake you get an attitude when you ask them to fix it. I will be moving my hard earned money to a FI that I trust and will give me the services that I pay for,

Sorry PFFCU but our 30+ year relationship is over.

Comment

1

Health

A+

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #	2551
Year Chartered	1938
Employees	646
Primary Regulator

Profit Margin
Return on Assets - YTD	1.39%
Return on Equity - YTD	7.77%
Annual Interest Income	$72.3MM

Assets and Liabilities
Assets	Q2 2017vs Q2 2016	$4.81B$4.52B
Loans	Q2 2017vs Q2 2016	$2.66B$2.49B
Deposits	Q2 2017vs Q2 2016	$3.93B$3.69B
Equity Capital	Q2 2017vs Q2 2016	$854.4MM$799.9MM
Loan Loss Allowance	Q2 2017vs Q2 2016	$15.8MM$16.0MM
Unbacked Noncurrent Loans	Q2 2017vs Q2 2016	$15.0MM$16.1MM
Real Estate Owned	Q2 2017vs Q2 2016	$639.00K$658.00K

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