State Department Federal Credit Union is headquartered in Alexandria and is the 7th largest credit union in the state of Virginia. It is also the 133rd largest credit union in the nation. It was established in 1935 and as of September of 2020, it had grown to 206 employees and 89,631 members at 6 locations. State Department Federal Credit Union's money market rates are 25% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in State Department Federal Credit Union is open to anyone through joining the American Consumer Council (available when opening an account). Membership is also open to employees of the U.S. State Department or other select organizations and to family of existing members.
See current membership details
Related Posts
11/1 - New-Member Bonus of up to $100 at State Department FCU - Easy Membership
6/27 - Top CD & IRA CD Rates at State Department FCU in VA - Easy Membership
5/17 - $25 Checking Account Bonus At State Department FCU - Easy Membership
4/5/08 - 4.58% 15-Month CD at a Virginia/DC Credit Union (State Department)
2/9/08 - 5.35% 15-Month CD at a Virginia/DC Credit Union (State Department).
2/3/08 - 7.00% 7-Month CD at a Virginia/DC Credit Union - $7K Max (State Department).
4/11/06 - 6.14% 60-Month CD at a Virginia CU
11/28/05 - 5.09% 15-Month CD at SDFCU
9/3/05 - Another 5 Percent CD
Superior Service And Convenience
I'm not sure about some of the reviews. My experience with this credit union has always been delightful. I've never been charged a fee for using a CO-OP ATM. I also use the ATMs at 7-eleven stores all the time, and have never been charged a fee. I earn points while using my debit card, and their online banking is terrific. I can set up a budget and track spending by catagory. I can even accept special offers and discounts from merchants while I'm logged in and attach them to my debit card if I want to, all at no charge. With their mobile app, I can take a picture of a check using my iphone and have it deposited directly into my account. Online loan applications, 24/7 live call center, rewards points, great rates. SDFCU really does seem to have it all. I recommend them to all my family and friends.
Poor Customer Service
State department has a communication issue. They tell customers to do one thing and when you do it its somethiing else. I've been a member for a long time and their customer service has declined drastically. Not once have they taken any responsibilty for what they are telling customers or even apologized for any inconvenence it has caused.
Problems, Moving Goalposts And Time Wasted
I tried to invest in a CD but was stopped by this FCU's illogical and changing "policies". The final straw was their asking for a copy of my tax return. I pointed out that I was not applying for a loan, I was going to lend them money. When it became clear they do not comprehend the difference between the two, I pulled the plug. I wonder how they stay in business when they turn away potential customers.
5 Yr. Cd State Dept. FCU
Just opened a 5 year cd (2.27%apy), with State Dept. FCU, was a very easy process. Everything was done by fax and the funds were taken directly from a money market acct. The EWP is 180 days, the wording regarding EWP was very consumer friendly (unlike some banks & cu's). At these rates, everything should be easy & consumer friendly!
Data as of Q3 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 435 |
| Year Chartered | 1935 |
| Employees | 206 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.51% |
| Return on Equity - YTD | 4.93% |
| Annual Interest Income | $52.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2020vs Q3 2019 | $2.38B$2.08B |
| Loans | Q3 2020vs Q3 2019 | $1.24B$1.19B |
| Deposits | Q3 2020vs Q3 2019 | $1.99B$1.70B |
| Equity Capital | Q3 2020vs Q3 2019 | $241.3MM$209.6MM |
| Loan Loss Allowance | Q3 2020vs Q3 2019 | $9.0MM$5.8MM |
| Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $5.1MM$5.3MM |
| Real Estate Owned | Q3 2020vs Q3 2019 | $0$175.00K |