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 651st largest credit union in the nation. It was established in 1946 and as of December of 2022, it had grown to 104 employees and 26,900 members at 4 locations. Spectra Credit Union's CD rates are 3X the national average, and it has a B+ health rating.

Related Posts

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

7-Month CD And 14-Month CD Special Rates May Be Ending Soon - 12/6/2022

Just a heads up - the Spectra CU CSR I spoke with today strongly hinted that the 14-month CD (4.85% APY) and 7-month CD (4.44% APY) may not be available much longer.

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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 - YTD-0.27%
Return on Equity - YTD-4.14%
Annual Interest Income$19.1MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$597.5MM$562.3MM
LoansQ4 2022vs Q4 2021$440.2MM$353.0MM
DepositsQ4 2022vs Q4 2021$509.5MM$497.9MM
Equity CapitalQ4 2022vs Q4 2021$38.8MM$56.9MM
Loan Loss AllowanceQ4 2022vs Q4 2021$1.7MM$1.5MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$2.1MM$2.7MM
Real Estate OwnedQ4 2022vs Q4 2021$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%--Brilliant Kids Savings
0.65%--Coverdell ESA Account
0.65%--IRA Share Account
0.05%$5-Savings Account
0.05%--Holiday Club Account
0.05%--Special Club Account

Spectra Credit Union Money Market Rates

1.20%*$250k*-Money Maker Account
OTHER TIERS: 0.65% $2.5k - $50k | 0.80% $50k - $100k | 1.00% $100k - $250k
1.20%*$250k*-Business Money Maker Account
OTHER TIERS: 0.65% $2.5k - $50k | 0.80% $50k - $100k | 1.00% $100k - $250k

Spectra Credit Union CD Rates

3.14%$500-60 Month Share Certificate
3.09%$500-48 Month Share Certificate
3.04%$500-36 Month Share Certificate
2.94%$500-24 Month Share Certificate
2.78%$500-12 Month Share Certificate
2.38%$500-6 Month Share Certificate

Spectra Credit Union IRA Rates

3.04%$500-36 Month IRA Certificate
2.94%$500-24 Month IRA Certificate
2.78%$500-12 Month IRA Certificate
2.38%$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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