Securityplus Federal Credit Union
Securityplus Federal Credit Union is headquartered in Baltimore and is the 16th largest credit union in the state of Maryland. It is also the 690th largest credit union in the nation. It was established in 1938 and as of September of 2024, it had grown to 90 employees and 36,109 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
Works For Me
I've had savings, checking and CD accounts here for 2 years now. Love the great "special" CD rates, like the 6% 8-month one I got in December 2023. I do most things online or via the app, but the few times I've actually gone to the credit union itself I've never had any problems. I'm definitely a fan of this place.
'Customer Service' Is Non-Existent.
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".
No One Is Home!
I opened a minimal account on line. My plan was to open a CD once it was established. I'm attracted by their advertised rates which are still pretty high and it seems that their EWP is only 90 days for even the long ones.
However, before I put any real money in it I need to talk to someone to check some details. I've found that no one answers their support phone. Generally you just sit on a queue with a count that never goes down, except when some one ahead gives up.
Last week they unexpectedly shut off even that for a day with a message that they were having some company wide meeting.
I have to wonder if they are in some kind of trouble. I certainly don't have enough confidence to open a CD.
Horrible Credit Untion
Another really bad credit union with all sort of scheming trying to keep your money. Stay away! Read also the other reviews here - some are horrifying.
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 2769 |
| Year Chartered | 1938 |
| Employees | 90 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.21% |
| Return on Equity - YTD | 12.78% |
| Annual Interest Income | $19.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $558.5MM$570.3MM |
| Loans | Q3 2024vs Q3 2023 | $399.6MM$417.2MM |
| Deposits | Q3 2024vs Q3 2023 | $482.3MM$500.6MM |
| Equity Capital | Q3 2024vs Q3 2023 | $53.4MM$43.4MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $6.3MM$5MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $7.1MM$4.6MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |