Signal Financial Federal Credit Union
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 657th largest credit union in the nation. It was established in 1947 and as of December of 2019, it had grown to 95 employees and 21,052 members at 7 locations. Signal Financial Federal Credit Union has a B+ 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
1/25 - Signal Financial Adds 24-Month CD Special (3.10% APY)
7/6 - Signal Financial FCU Adds Premium Money Market
4/8 - Signal Financial FCU Has Limited-Time Promo Rate CDs
8/12/16 - Signal Financial FCU Offers Up To $400 In Bonuses
7/20/16 - Signal Financial FCU Has Limited-Time 60-Month CD Promo Rate
12/16/14 - Signal Financial FCU's "Gift That Gives" Competitive Rate 49-month CD
12/12/14 - 2.15% APY 49 Month CD At Signal Financial FCU
10/25/12 - Credit Union Helped Catch Scammers Taking Advantage Of An Elderly Member
1/14/09 - $101 Checking Account Bonus at Signal Financial Federal Credit Union in DC
5/26/08 - $101 Checking Account Bonus at a DC Credit Union (Signal Financial)
3/22/08 - 4.24% 24-Month / 4.19% 12-Month CD at a DC Credit Union (Signal Financial).
1/26/08 - 5.13% 24-Month / 5.13% 12-Month CD at a DC Credit Union (Signal Financial).
11/5/07 - 5.39% 24-Month / 5.28% 12-Month CD at a DC Credit Union - and $101 Checking Bonus (Signal Financial)
11/3/07 - 5.39% 24-Month / 5.28% 12-Month CD at a DC Credit Union Continues (Signal Financial)
8/24/07 - 5.50% 24-Month CD at a Washington DC Credit Union Continues (Signal Financial)
6/5/07 - 5.50% 24-Month CD at a Washington DC Credit Union (Signal Financial)
4/19/07 - 5.65% 24-Month / 5.55% 12-Month CD at a Washington DC Credit Union Continues (Washington Telephone)
3/16/07 - $25 Checking Account Bonus at a Maryland/Virginia/DC CU (Washington Telephone)
2/15/07 - 5.65% 24-Month / 5.55% 12-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
Unilateral Terms Changes
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!
Do Not Honor Add On CD Feature
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 5571 |
| Year Chartered | 1947 |
| Employees | 95 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.16% |
| Return on Equity - YTD | 1.74% |
| Annual Interest Income | $16.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $427.1MM$389.9MM |
| Loans | Q4 2019vs Q4 2018 | $308.3MM$333.5MM |
| Deposits | Q4 2019vs Q4 2018 | $371.5MM$334.5MM |
| Equity Capital | Q4 2019vs Q4 2018 | $39.3MM$37.8MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.2MM$4.0MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $3.2MM$2.0MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $503.00K$0 |