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Signal Financial Federal Credit Union


Overview / Commentary
www.signalfinancialfcu.org
301-933-9100
3015 University Blvd W
Kensington, MD 20895-1936

Signal Financial Federal Credit Union is headquartered in Kensington and is the 16th largest credit union in the state of Maryland. It is also the 674th largest credit union in the nation. It was established in 1947 and as of June of 2020, it had grown to 93 employees and 20,831 members at 7 locations. Signal Financial Federal Credit Union's money market rates are 14% higher than the national average, and it has a C+ health rating.

Field of Membership Restrictions

Membership in Signal Financial Federal Credit Union is open to those who live, work, attend school, or worship in Washington, DC or within the Capital Beltway in Prince George's County, Maryland. Employees and retirees of nearly 200 Select Employee Groups also qualify for membership. All residents of Maryland, Virginia, and Washington, DC who join the Washington Area Bicycle Association (WABA) are membership eligible.
See current membership details

Related Posts

Wow Add-On 3% CD No Longer Accepting Deposits After 4/10 - 3/11/2020

Signal just changed the terms and conditions of its 24 month Wow add-on CD, that currently pays 3%. Signal changed terms of the CD to no longer accept additional deposits after 4/10/2020. Encourage all who have this CD to make any additional deposits before that time. For more on this, see Ask the Community User Forum.

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Reviews (2)

Unilateral Terms Changes

Posted by: |

I invested in 5 of the 72 month add-on CD last fall.. As the other poster noted there was no discussion of the add-on feature (or any other feature) being term limited.

I called them after getting the notice and they told me my disclosures included the change of terms provision. I looked, and the terms she read to me are not on my disclosures. She pretended this was some kind of mistake. It clearly was no error.

I will be pressing this issue with the credit union. I don't believe it is legal to unilaterally change the terms. If it is legal, I have a few I would like to change!

5

Do Not Honor Add On CD Feature

Posted by: |

Signal in 2019 offered a very attractive WOW Promo CD for a 24 month term, at about 3% with an add on feature. Their advertisement stated - Add More Anytime and "unlimited deposits anytime during the term". Well last month this changed. They stopped allowing additional deposits (as noted in the forum). After complaints from customers, they changed their terms and are only allowing deposits for an additional 30 days. After that, no additional deposits allowed for the rest of the CDs term. With the Fed changing interest rates lower and Treasury rates going done, it is understandable that Signal's CD rate is now very attractive. And just when customers want to transfer in funds, they cancel the feature. Thus, I would recommend that no matter how nice the folks may be at this CU, that you can not trust them to not change the terms of your CD agreements. For further information on this, see the forum discussion on Signal Financial Credit Union.

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Health
C+

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #5571
Year Chartered1947
Employees93
Primary Regulator
Profit Margin
Return on Assets - YTD-0.15%
Return on Equity - YTD-1.66%
Annual Interest Income$7.3MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$454.3MM$408.8MM
LoansQ2 2020vs Q2 2019$294.0MM$332.1MM
DepositsQ2 2020vs Q2 2019$413.4MM$352.6MM
Equity CapitalQ2 2020vs Q2 2019$39.7MM$38.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$2.9MM$3.8MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$12.1MM$2.4MM
Real Estate OwnedQ2 2020vs Q2 2019$503.00K$31.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Signal Financial Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Signal Financial Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$50-Business Savings
0.05%--Share Savings Account
0.05%$10-Holiday Club Account
0.05%$10-Vacation Club Account
0.05%$5-IRA Share Account
0.05%$5-Coverdell Education Share

Signal Financial Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$50k*-Business Money Market
OTHER TIERS: 0.05% → Up to $2.5k | 0.10% → $2.5k - $20k | 0.25% → $20k - $50k
0.50%*$25k*-Premium Money Market Account
OTHER TIERS: 0.25% → Up to $25k
0.25%--Direct Money Market Account
0.15%*$100k*-Money Market Account
OTHER TIERS: 0.05% → $2.5k - $20k | 0.10% → $20k - $100k

Signal Financial Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$3k-Premium Checking
0.10%--Direct Checking
0.05%--Connect Checking

Signal Financial Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-72 Month CD
0.75%$500-Business 72 Month CD
0.70%$500-Business 60 Month CD
0.70%$500-60 Month CD
0.65%$500-48 Month CD
0.65%$500-Business 48 Month CD
0.60%$500-36 Month CD
0.60%$500-Business 36 Month CD
0.55%$500-Business 24 Month CD
0.55%$500-Business 30 Month CD
0.55%$500-24 Month CD
0.55%$500-30 Month CD
0.50%$500-18 Month CD
0.50%$500-Business 18 Month CD
0.45%$500-12 Month CD
0.45%$500-Business 12 Month CD
0.20%$500-182 Day CD
0.20%$500-Business 182 Day CD
0.10%$500-91 Day CD
0.10%$500-Business 91 Day CD
0.05%$500-31 Day CD
0.05%$500-Business 31 Day CD

Signal Financial Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-72 Month IRA Share Certificate
0.75%$500-72 Month CESA Certificate
0.70%$500-60 Month IRA Share Certificate
0.70%$500-60 Month CESA Certificate
0.65%$500-48 Month IRA Share Certificate
0.65%$500-48 Month CESA Certificate
0.60%$500-36 Month IRA Share Certificate
0.60%$500-36 Month CESA Certificate
0.55%$500-24 Month IRA Share Certificate
0.55%$500-30 Month IRA Share Certificate
0.55%$500-24 Month CESA Certificate
0.55%$500-30 Month CESA Certificate
0.50%$500-18 Month IRA Share Certificate
0.50%$500-18 Month CESA Certificate
0.45%$500-12 Month IRA Share Certificate
0.45%$500-12 Month CESA Certificate
Locations


Signal Financial Federal Credit Union Locations
Branch Office1391 Pennsylvania Ave SE Retail Space 1Washington, DC 20003-3074
Branch Office9500 Medical Center Dr #103Largo, MD 20774-3703
Branch Office3015 University Blvd WKensington, MD 20895-1936
Branch Office22001 Loudoun County PkwyAshburn, VA 20147
Branch Office3701 Rossmoor BlvdSilver Spring, MD 20906-1565
Branch Office1101 New York Ave NWWashington, DC 20005-4269
Branch Office44747 Brimfield DrAshburn, VA 20147-5920

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