Securityplus Federal Credit Union

Overview / Commentary
7500 Windsor Blvd
Baltimore, MD 21244

Securityplus Federal Credit Union is headquartered in Baltimore and is the 16th largest credit union in the state of Maryland. It is also the 682nd largest credit union in the nation. It was established in 1938 and as of December of 2022, it had grown to 87 employees and 33,635 members at 5 locations. Securityplus Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Securityplus Federal Credit Union is open to anyone (regardless of residency) through membership in the American Consumer Council. Membership is also open to those who live, work, worship, or attend school in the City of Baltimore, employed by or retired from one of the credit union's sponsor groups, or are immediate family of those eligible.
See current membership details

Related Posts

First 6% 11 Month CD For 2023 - 2/22/2023

$50k maximum and must call in to open CD (or drop in branch) Easy membership with American Consumer Council membership. $50 referral bonus, but must open a checking account to get it.

6.00% APY 11-Month CD Available at Securityplus Federal Credit Union - Expired - 2/18/2023

Securityplus Federal Credit Union (easy membership) has added a rate-leading limited-time 11-month Promotion Certificate. $50k max deposit. Offer valid as of 2/18/23.

Securityplus Federal Credit Union Adds Rate-Leading 23-Month Promo CD - 10/24/2022

Securityplus Federal Credit Union (easy membership) has added a rate-leading limited-time 23-month Promotion Certificate. $10k minimum deposit of new money required.

Reviews (5)

'Customer Service' Is Non-Existent.

Posted by: |

The fine print for the 6% CD states that it can only be opened by visiting a branch or calling 'customer service'. I challenge anyone to actually reach the mythical 'customer service' at this bank. I tried six times and each time a recorded voice said "Unable to connect this call; please try again later".

Please Review Health Of SFCU Prior To Opening A CD

Posted by: |

Taken SVB failed this week, I began paying more attention to health of banks and CU before considering opening any accounts.

Even though 6% APY sound very interesting,I would not open a CD at Securityplus Federal Credit Union for the following reason:

From DepositAccounts:

Return on Assets - YTD -0.09%
Return on Equity - YTD -1.09%

Real Estate Owned Q3 2022. $0
vs Q3 2021. $106.00K (this probably is not a red flag since the amount is relatively small)

Would NOT Recommend This Place

Posted by: |

Their special of 6% for 50K is attractive, but not worth the hassle. WAIT TIME is horrible for customer service and then they do sloppy work. Tried the CALL ME BACK option twice, and no one ever called... EVER.

Mechanized voice Gatekeeper refused to get you connected to someone (trick: try 0#, then next prompt, 0# again. Should get you placed into the wait queue for customer service).

My recommendation: Take your dollars somewhere else. The difference on 50K between 5% and their 6% is not worth the hassle.

I'm also very much on boycotting any bank, credit union, brokerage, any business who thinks its OK to have (on average) hold times of greater than 30 minutes for customer service.

Really Rude Customer Service

Posted by: |

Waited a total of 77 mins, trying multiple times. Really rude and bad customer service. Probably one of those outlets that are interesting collecting your personal information/data so they can sell them elsewhere. I do expect my application to be rejected.... No need to beg them to open an account 6% CD will pop-up elsewhere as the Feds will keep increasing rates.

Very Difficult To Become A Member

Posted by: |

Among the requirements for membership are 1. a primary ID; 2. A secondary ID; and 3. a certificate from the American Consumer Council. While I joined the Am Consumer Council, as requested, I didn't receive a certificate via email, as promised. The rep at Securityplus refused to honor the paid receipt, from the Am Consumer Council, stating that I would need to request this certificate from the Am Consumer Council. These membership requirements are unreasonably rigorous and very time consuming. While their interest rate is good, my time also has value, and I will be content to settle for a lower rate from another institution.


Health Grade Components

NCUA #2769
Year Chartered1938
Primary Regulator
Profit Margin
Return on Assets - YTD0.18%
Return on Equity - YTD2.29%
Annual Interest Income$15.4MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$552.5MM$519.9MM
LoansQ4 2022vs Q4 2021$402.5MM$356.9MM
DepositsQ4 2022vs Q4 2021$482.9MM$455.7MM
Equity CapitalQ4 2022vs Q4 2021$41.9MM$45.2MM
Loan Loss AllowanceQ4 2022vs Q4 2021$3.5MM$2.9MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$2.7MM$3.0MM
Real Estate OwnedQ4 2022vs Q4 2021$0$0

Rates for Securityplus Federal Credit Union are currently being reviewed.


Securityplus Federal Credit Union Locations
Branch Office7500 Security BlvdBaltimore, MD 21244
Branch Office1514 Woodlawn DrBaltimore, MD 21207
Branch Office6401 Security Blvd RM 4-M-27-ABaltimore, MD 21235
Branch Office4470 W Northern PkwyBaltimore, MD 21215
Branch Office60 Painters Mill RdOwings Mills, MD 21117-3604

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