Self-Help Federal Credit Union

Overview / Commentary

919-956-4400

301 W Main St
Durham, NC 27701-3215

Self-Help Federal Credit Union is headquartered in Durham and is the 6^th largest credit union in the state of North Carolina. It is also the 281^st largest credit union in the nation. It was established in 2008 and as of March of 2019, it had grown to 303 employees and 75,115 members at 28 locations. Self-Help Federal Credit Union's money market rates are 4X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership is open to anyone through joining the Center for Community Self-Help ($5 one-time 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

View all posts from:

2017
2006

6/5 - Self-Help FCU's Money Market Rate Jumps Up
6/1 - Money Market Rate 1.41% APY, $500K+
4/5 - Self-Help FCU (Easy Membership) Ups Money Market Rate
3/12 - Self-Help FCU Acquires The Branches Of Failed Chicago Bank
1/6 - Self-Help FCU (Easy Membership) Raises Money Market APYs

11/10 - 5.88% 48-Month CD at a California CU (Butte)

Reviews (2)

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Not Meant For On-Line Usage, Best Only If Local To Branches

Posted by: Brent Sieling | Aug 24, 2017

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.

Comment

Worst Credit Union I Have Dealt With

Posted by: mapple | Sep 22, 2017

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.

Comment

Health

B+

Data as of Q1 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #	24802
Year Chartered	2008
Employees	303
Primary Regulator

Profit Margin
Return on Assets - YTD	1.09%
Return on Equity - YTD	16.6%
Annual Interest Income	$15.6MM

Assets and Liabilities
Assets	Q1 2019vs Q1 2018	$1.14B$1.11B
Loans	Q1 2019vs Q1 2018	$974.7MM$945.7MM
Deposits	Q1 2019vs Q1 2018	$844.1MM$844.2MM
Equity Capital	Q1 2019vs Q1 2018	$74.0MM$65.2MM
Secondary Capital	Q1 2019vs Q1 2018	$107.0MM
Loan Loss Allowance	Q1 2019vs Q1 2018	$13.0MM$11.2MM
Unbacked Noncurrent Loans	Q1 2019vs Q1 2018	$3.9MM$5.3MM
Real Estate Owned	Q1 2019vs Q1 2018	$382.00K$172.00K

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