Securityplus Federal Credit Union
Securityplus Federal Credit Union is headquartered in Baltimore and is the 17th largest credit union in the state of Maryland. It is also the 692nd largest credit union in the nation. It was established in 1938 and as of March of 2025, it had grown to 96 employees and 35,009 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
Amazing Service
opened an account on line . had to call I had zero trouble getting someone to help me. so far excellent
'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".
Very Difficult To Become A Member
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.
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.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 2769 |
| Year Chartered | 1938 |
| Employees | 96 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.05% |
| Return on Equity - YTD | -0.54% |
| Annual Interest Income | $6.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $576MM$564.9MM |
| Loans | Q1 2025vs Q1 2024 | $393.2MM$406.8MM |
| Deposits | Q1 2025vs Q1 2024 | $502.4MM$491.5MM |
| Equity Capital | Q1 2025vs Q1 2024 | $53.4MM$51MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $6.9MM$5.5MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $5.8MM$6.6MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |