Self-Help Federal Credit Union is headquartered in Durham and is the 6th largest credit union in the state of North Carolina. It is also the 229th largest credit union in the nation. It was established in 2008 and as of December of 2023, it had grown to 344 employees and 100,997 members at 38 locations. Self-Help Federal Credit Union's money market rates are 8X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Self-Help Federal Credit Union is open to anyone through joining the Center for Community Self-Help ($5 membership fee). Membership is also open to those who live, work, attend school or worship in select areas of Oakland, California and to employees of over 100 Select Employer Groups.
See current membership details
Not Meant For On-Line Usage, Best Only If Local To Branches
I saw the attractive rates and really like the mission of this Credit Union. However, you can really only take advantage of the rates if you are local to their branches. First clue: There is no way to apply on-line; you have to go local or mail in an application (with a $5 donation to be part of the CU affinity). In my case it took almost a month before I was able to open the account! But once you get the account open, you discover they have no ACH transfers to/from another institution in the online banking, so...good luck moving your money in or out from their side. You can push or pull money from another bank/CU to here, but that will not work for me.
The Most Evil And Hurtful Credit Union Ever!!!
This horrendous and sad excuse for a financial institution that is suppose to help people does exactly the opposite. The Mission Street Branch in San Francisco never sent me a debit card which I had to repeatedly call and beg to get which eventually took 3 months to get! ridiculous! But I wish I never got it because they did something that no financial institution has ever pulled on me before. They allowed a shady criminal business to charge me card without me present or signing for it and instead of declining the charge they let it over draw my checking account by -$1300!! Why in the world they would do such a stupid weird and damaging thing and let them get away with it which they then closed my account because there was no way i was paying for their evil mistake. It now sits on my credit file as a “loan”! I never ever signed anything about any loan! Worst experience and was only few months! banks are so awful and evil! This must change!
Worst Credit Union I Have Dealt With
I was attracted by their high savings rate and later regretted it had I known their incompetent and unprofessional customer service skills. They consistently lost paper work requests and once I forced them to find it in their e-fax database they came back blaming me for filling out the form wrong. And this was 3 weeks after I faxed the form. Like others have said there is no online ACH so good luck with transferring $$. Checks are not free so expect to pay $20. Don't try to close the account with 6 months and you will be penalized. Bottom line there is something else better so don't trap yourself in this small, unreliable & incompetent credit union and you will have to find other means to self-help yourself. Now I finally figured out where their name came from.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24802 |
| Year Chartered | 2008 |
| Employees | 344 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.77% |
| Return on Equity - YTD | 22.34% |
| Annual Interest Income | $108.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $2.09B$2.1B |
| Loans | Q4 2023vs Q4 2022 | $1.48B$1.47B |
| Deposits | Q4 2023vs Q4 2022 | $1.46B$1.47B |
| Equity Capital | Q4 2023vs Q4 2022 | $166.1MM$160.2MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $44.9MM$23.7MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $5.9MM$8.4MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$327K |
