Smart Financial Credit Union

Overview / Commentary
6051 N Course Dr
Houston, TX 77072

Smart Financial Credit Union is headquartered in Houston and is the 43rd largest credit union in the state of Texas. It is also the 500th largest credit union in the nation. It was established in 1934 and as of December of 2023, it had grown to 191 employees and 62,668 members at 13 locations. Smart Financial Credit Union's CD rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Smart Financial Credit Union of Illinois is open to those who live, work, or attend school, or businesses in the Texas counties of Brazoria, Fort Bend, Harris, and Montgomery.
See current membership details

Reviews (4)

Smart Financial is a Smart Choice

Posted by: |

I have been a customer of Smart Financial Credit Union since before they took on that name. (When they were First Educator's Credit Union about a decade or so ago.) Whenever I go in to the FM 1960 Branch, I am always greeted by whoever is at the front desk. The tellers always have smiles on their faces and are very friendly. Customer service there is wonderful. The lines are usually not long whenever I go in, so that is a plus. They always go out of their way to help you. Whenever there is something wrong with my debit card, such as, I have worn off the strip in the back, or I have bent it and it won't swipe any more, they print me up another one right on the spot. There is not a charge for it either! That is a great convenience to me because I am rough on things. The only downside I would say is that lately the website has been slow about updating transactions on your debit account. It used to be faster, in my opinion. I am not sure if it is the credit union, or if it is the stores I am shopping at. In spite of this, whenever I spot inaccuracies on my account, they are quick to do something about it. One time, I received an overdraft fee on my account, when I wasn't supposed to. My paycheck is automatically drafted into my account every 2 weeks. My purchase posted seconds before my check posted. I felt I should not have to pay that fee so when I saw the fee, I called them up, explained what happened, they checked it out, and they reversed the fee for me. I feel this is a safe place to put my money, and will be with them for the foreseeable future.

My Smart Financial

I have been a member of this credit union for almost 15 years and have been satisfied with having my accounts there and letting them handle my financial transactions. But in the last few years their core values have changed and the emphasis on the member service has been co-opted by a desire to expand their portfolio and grow the company. It used to be that the employees were there to help the members with their financial questions and to provide products that the members could choose to utilize if they wanted. Now the employees act more agressively and try to sell more and more even if the members do not need or want specific financial products. If I wanted to have my accounts at a bank, I would. I thought I would be more than a number with the credit union and for years I was. Sadly, that is not the case anymore.

Not So Smart

Posted by: |

It used to be a normal CU but recently they renovated their services by removing live people at banking centers. So, basically a phone is the only way to communicate with them. And they are bad at that. Long waiting time, clueless personnel, poor problems solving, etc. Also it scares me that they have a lot of problems on IT level: it doesn't work in 100% situations as expected.

SFCU Went Downhill

Posted by: |

I am a former Smart Financial customer, and at first, I was pleased with Smart Financial's products, customer service and competitive rates. Over time, however, Smart Financial began charging new fees and penalties, and the quality of customer service declined. When I noticed a new $10 monthly inactivity fee, I asked why notice of the new fee wasn't provided to me. The customer service rep explained Smart Financial wasn't legally required to provide notice to customers. True or not, it is an example of what you might expect from Smart Financial-- creative new fees without prior notice. I'm now a member of a new credit union, and my only regret is not having left Smart Financial sooner.


Health Grade Components

NCUA #67927
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD0.35%
Return on Equity - YTD4.13%
Annual Interest Income$32MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$850.3MM$858.5MM
LoansQ4 2023vs Q4 2022$529.3MM$461.4MM
DepositsQ4 2023vs Q4 2022$718.4MM$775MM
Equity CapitalQ4 2023vs Q4 2022$74.2MM$64MM
Loan Loss AllowanceQ4 2023vs Q4 2022$2.5MM$2.1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$1.1MM$1.5MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Smart Financial 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.

Smart Financial Credit Union Savings Account Rates

2.00%*$100k*-IRA Savings
OTHER TIERS: 0.50% Up to $2.5k | 0.60% $2.5k - $10k | 0.75% $10k - $25k | 1.00% $25k - $50k | 1.75% $50k - $100k
0.20%$100-Share (Savings)
0.20%$100-Business Share Savings

Smart Financial Credit Union Money Market Rates

1.75%*$100k*-Money Market Account
OTHER TIERS: 0.25% Up to $2.5k | 0.35% $2.5k - $10k | 0.50% $10k - $25k | 0.75% $25k - $50k | 1.50% $50k+
1.50%*$50k*-Business Money Market
OTHER TIERS: 0.40% $5k - $25k | 0.75% $25k - $50k

Smart Financial Credit Union Checking Account Rates

0.10%*$2.5k*-Smart Premier Checking
OTHER TIERS: 0.05% Up to $2.5k

Smart Financial Credit Union CD Rates

4.10%$100k-Business 12 Month Jumbo CD
4.10%$100k-12 Month Jumbo CD
4.05%$50k-Business 12 Month Mini Jumbo CD
4.05%$50k-12 Month Mini Jumbo CD
4.00%$1k-Business 12 Month CD
4.00%$1k-12 Month CD
3.60%$100k-Business 24 Month Jumbo CD
3.60%$100k-24 Month Jumbo CD
3.55%$50k-Business 24 Month Mini Jumbo CD
3.55%$50k-24 Month Mini Jumbo CD
3.50%$1k-Business 24 Month CD
3.50%$1k-24 Month CD
3.10%$100k-Business 60 Month Jumbo CD
3.10%$100k-36 Month Jumbo CD
3.10%$100k-48 Month Jumbo CD
3.10%$100k-60 Month Jumbo CD
3.05%$50k-Business 60 Month Mini Jumbo CD
3.05%$50k-36 Month Mini Jumbo CD
3.05%$50k-48 Month Mini Jumbo CD
3.05%$50k-60 Month Mini Jumbo CD
3.00%$1k-Business 60 Month CD
3.00%$1k-36 Month CD
3.00%$1k-48 Month CD
3.00%$1k-60 Month CD
2.60%$100k-Business 6 Month Jumbo CD
2.60%$100k-6 Month Jumbo CD
2.55%$50k-Business 6 Month Mini Jumbo CD
2.55%$50k-6 Month Mini Jumbo CD
2.50%$1k-Business 6 Month CD
2.50%$1k-6 Month CD

Smart Financial Credit Union IRA Rates

4.10%$1k-12 Month IRA
3.60%$1k-24 Month IRA
3.10%$1k-36 Month IRA
3.10%$1k-48 Month IRA
3.10%$1k-60 Month IRA Special


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