Spectra Credit Union

Overview / Commentary
5440 Cherokee Ave Ste 200
Alexandria, VA 22312-2321

Spectra Credit Union is headquartered in Alexandria and is the 20th largest credit union in the state of Virginia. It is also the 653rd largest credit union in the nation. It was established in 1946 and as of June of 2023, it had grown to 103 employees and 27,486 members at 4 locations. Spectra Credit Union's CD rates are 5X the national average, and it has a B+ health rating.

Related Posts

Spectra Credit Union Brings Back Competitive 14-Month CD Special - 4/11/2023

Spectra Credit Union (easy membership) has brough back its competitive 14-month and 7-month CD Specials. $5k minimum opening deposit of new money.

Spectra Credit Union Adds 2% To New CDs With Checking Relationship - 3/4/2023

Spectra Credit Union (easy membership) High5 promotion adds 2.00% to any CD with monthly direct deposit of $500 or more in a new or existing checking account.

2% Bump On Certificate Rates With $500/Month Direct Deposit To Checking - 3/4/2023

Spectra is offering a 2 percentage point increase on its CD rates with a bundle promotion. The pre-bonus interest rates (not APY) are: 12 m 2.75; 24m 2.9, 36 m 3.0; 48 3.05; 60m 3.1. The shorter end isn't so interesting, but the 3-5 year range looks competitive. (5.0 - 5.1--and that's before the compounding to get the APY, which would add about another 0.1 to the rates.) Here's the marketing language from the website. Celebrate our new High 5 bundle and unlock higher dividends on your cash. With your new or existing checking account and a monthly direct deposit of $500 or more, you will get a dividend rate bump of 2.00% on a new share certificate.2 With terms up to 60 months and dividend rates up to 3.10% (3.14% APY), that means you can earn a dividend rate up to 5.10% (5.22% APY). ?Hurry, this hot offer won't last long! Use promo code "High5" when you apply. Here's some fine print: All new or existing checking accounts with monthly direct deposits of $500 or more are eligible to r

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Reviews (2)

Overall Great Experience

I've been a member of this institution for nearly 10 years, while it is not my primary FCU; it has been my back-up. I've gotten loans with ease and the rates were acceptable. They have great loyalty rewards for their members, and their customer service is good also.

Debit Card Fiasco

Posted by: |

At the beginning of February I was out of the country and tried to use my debit card at a bank ATM. Turned out that my card had expired the end of January. I left town on January 25 and had received no alert from Spectra that my card was about to expire. Upon returning to the USA I called Spectra and was told the company producing the debit cards had a "production delay" and I "should be receiving a replacement within seven days". Again - no alert from Spectra. I feel this was extremely negligent on their part, and
after over 50 years with the NRL (now Spectra) Credit Union I will be moving my account to another federal CU.
Beware - customer service has taken a nose dive since Spectra took over this CU .


Health Grade Components

NCUA #5380
Year Chartered1946
Primary Regulator
Profit Margin
Return on Assets - YTD0.01%
Return on Equity - YTD0.13%
Annual Interest Income$12.6MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$606.0MM$564.0MM
LoansQ2 2023vs Q2 2022$409.2MM$402.3MM
DepositsQ2 2023vs Q2 2022$501.2MM$493.4MM
Equity CapitalQ2 2023vs Q2 2022$37.3MM$39.7MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$1.6MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.6MM$3.2MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Spectra 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.

Spectra Credit Union Savings Account Rates

10.38%*-$1kBrilliant Kids Savings
OTHER TIERS: 0.10% $1k+
0.85%--Coverdell ESA Account
0.85%--IRA Share Account
0.10%$5-Savings Account
0.10%--Holiday Club Account
0.10%--Special Club Account

Spectra Credit Union Money Market Rates

1.50%*$250k*-Money Maker Account
OTHER TIERS: 0.85% $2.5k - $50k | 1.10% $50k - $100k | 1.35% $100k - $250k
1.50%*$250k*-Business Money Maker Account
OTHER TIERS: 0.85% $2.5k - $50k | 1.10% $50k - $100k | 1.35% $100k - $250k

Spectra Credit Union CD Rates

4.50%$500-12 Month Share Certificate
4.07%$500-24 Month Share Certificate
3.95%$500-36 Month Share Certificate
3.85%$500-48 Month Share Certificate
3.80%$500-60 Month Share Certificate
3.00%$500-6 Month Share Certificate

Spectra Credit Union IRA Rates

4.50%$500-12 Month IRA Certificate
4.07%$500-24 Month IRA Certificate
3.95%$500-36 Month IRA Certificate
3.00%$500-6 Month IRA Certificate

Spectra Credit Union Locations
Branch Office1024 Saint Nicholas DrWaldorf, MD 20603
Branch Office4555 Overlook Ave SW Bldg 222Washington, DC 20375-0001
Corporate Office5440 Cherokee Ave Ste 200Alexandria, VA 22312
Branch Office1460 N Beauregard StAlexandria, VA 22311-5800

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