Securityplus Federal Credit Union


Overview / Commentary
410-281-6200
7500 Windsor Blvd
Baltimore, MD 21244

Securityplus Federal Credit Union is headquartered in Baltimore and is the 15th largest credit union in the state of Maryland. It is also the 675th largest credit union in the nation. It was established in 1938 and as of December of 2023, it had grown to 82 employees and 35,918 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

Securityplus Fed Credit Union Offers Rate-Leading 8-Month CD - 11/16/2023

Securityplus Federal Credit Union (easy membership) will be offering a rate-leading 8-month CD Special between 11/20/2023 and 11/30/23. Must be opened online.

6% 8 Month CD End Of Nov - 11/15/2023

The following is posted on their website: www.securityplusfcu.org/personal/bank/share-certificates.aspx SAVE THE DATE: We will be having a 6.00% APY* Flash Sale Event on 11/20/2023 thru 11/30/2023. This will be an Online Exclusive ONLY 10 day event to lock in an amazing rate on our 8 month Share Certificate! Check back here between those dates to open your account and take advantage of this exclusive offer.

6% 8 Month CD End Of Nov - 11/15/2023

The following is posted on their website: www.securityplusfcu.org/personal/bank/share-certificates.aspx SAVE THE DATE: We will be having a 6.00% APY* Flash Sale Event on 11/20/2023 thru 11/30/2023. This will be an Online Exclusive ONLY 10 day event to lock in an amazing rate on our 8 month Share Certificate! Check back here between those dates to open your account and take advantage of this exclusive offer.

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Works For Me

Posted by: |

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.

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".

Horrible Credit Untion

Posted by: |

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.

Worst Credit Union

Posted by: |

Seems that Securityplus executives allowed a teller to copy and distribute member data to her peers outside the credit union. This resulted in over $30K in loses for members as they went to ITMs and withdrew money from member accounts. The membership was never notified, and no one knows how much data she was able to distribute and/or sell outside the credit union. They changed the access of the ITMs and fired the employee, but the data is still compromised. It was said that the employee took multiple pictures with her smartphone and texted the data out. This will result in a letter to NCUA about this. We don't know if they sent out SSN, account numbers, or all of the member data. For the past year and a half or so this credit union has been on a downward spiral regardless of how they fudge numbers. The egregious spending by the executive team and now the blatant disregard for member data. The CEO is just waiting out her contract and will leave this place in shambles. No board in their right mind would extend her contract. Don't even get me started on the COO, CXIO, or the sexual predator CIO. I am in disbelief they keep that one employed.

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Health

Health Grade Components

Overall
NCUA #2769
Year Chartered1938
Employees82
Primary Regulator
Profit Margin
Return on Assets - YTD0.64%
Return on Equity - YTD7.89%
Annual Interest Income$23.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$579.3MM$552.5MM
LoansQ4 2023vs Q4 2022$413.6MM$402.5MM
DepositsQ4 2023vs Q4 2022$506.2MM$482.9MM
Equity CapitalQ4 2023vs Q4 2022$46.7MM$41.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$5.6MM$3.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$7.1MM$2.7MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates

Rates for Securityplus Federal Credit Union are currently being reviewed.

Locations


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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