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State Department Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.02%5-year CD60 Month Certificate
1.61%4-year CD48 Month Certificate
0.95%18-month CD17 Month Bump Up Certificate

Overview / Commentary
703-706-5000
1630 King St
Alexandria, VA 22314-2744

State Department Federal Credit Union is headquartered in Alexandria and is the 8th largest credit union in the state of Virginia. It is also the 120th largest credit union in the nation. It was established in 1935 and as of March of 2016, it had grown to 193 employees and 72,138 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 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.
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Reviews (4)

Superior Service And Convenience

Posted by: mlml | Dec 21, 2012

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.

5 Yr. Cd State Dept. FCU

Posted by: lof | Feb 27, 2012

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!

AVOID State Department FCU -- They CHARGE You $2 Even For "Free" Co-Op Atms!

Posted by: CUGuy99 | Nov 7, 2012

State Dept FCU is BAD for everyday banking if you don't live nearby. They're the ONLY Credit Union I'm aware of that CHARGES YOU AN ATM FEE of $2 TO USE EVEN A CO-OP ATM! Their language (hidden deep in their website that's impossible to find on its own without a google search) says that if you use a Co-Op ATM you won't be charged a "surchage" but you WILL be charged a "nominal" "$2 Transaction fee" for each transaction you do via a Co-Op "surcharge-free" ATM (if it's a non-Co-Op ATM, you'll be charged that $2 Transaction fee PLUS their ATM surcharge PLUS the other bank's ATM surcharge). But even for staying on the Credit Union Co-Op network, they STILL charge you a $2 "transaction fee" for each transaction you do on the "surcharge-free" Co-Op Network.

Wow. That's BAD. So they don't "surcharge" you, they "transaction fee" you instead. I've NEVER heard of this from any other Credit Union doing this, and I belong to 4 of them, and research credit unions all the time. Co-Op ATMs are supposed to be fee-free for credit union members (as long as it's a Co-Op ATM, and the credit union is on the Co-Op ATM network). Not here. That's just scummy.

I was considering opening an account here as well, and perhaps in the future when my current IRA expires, moving it to State Dept FCU. But not anymore. I have no problem banking with institutions not in my area... but I don't like getting charged $2 each time (especially when no other credit union does it) for doing things like deposting or withdrawing money from Co-Op (supposedly surcharge-free) ATMs.

So consider yourself warned, to read the fine print about all the hidden fees they charge. Unless it was an exceptional rate and you never touch the money for years at a time, I'd avoid this place. There's NO reason for them to charge this fee (when sticking with Co-Op ATMs). NO other credit union I'm aware of does this.

AVOID.

Unpleasant Female Tellers, Charge For Everything, Deny Loans If Not Excellent Credit

This credit union is AWEFUL! You are better off at a regular bank, any other bank, if you cannot change to another credit union. This place consistently denies loans unless you have excellent credit. They want your money without giving you any benefits. They charge for everything. Other credit unions don't charge for things like a basic checking account or a bank check. These guys do. You need to have direct deposit in order to have a free account, if you pay bills with them, there is a $5 fee for inactivity, and if your account is inactive for two years, they charge $10/month. I was denied for a small car loan, small personal loan twice, and a credit card. Funny how another credit union approved me for my loan and credit card. Also, the other credit union didn't charge me for a certified check. One more thing, the other bank doesn't discriminate against me. SDFCU HATES white people, and I mean hates. I have been treated like garbage so much that I hated coming in. Finally I tried to do thing over the phone, but being placed on hold for 20 minutes left me hanging up. These people are LAZY LAZY and awful. Talk about government stereotypes that come true here. I would rate this alongside going to the DMV. Both are equally unpleasant with unhappy employees!



Health
A

Health Grade Components

Overall
NCUA #435
Year Chartered1935
Employees193
Primary Regulator
Profit Margin
Return on Assets - YTD0.64%
Return on Equity - YTD7.24%
Annual Interest Income$11.5MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$1.75B$1.65B
LoansQ1 2016vs Q1 2015$774.5MM$702.7MM
DepositsQ1 2016vs Q1 2015$1.44B$1.39B
Equity CapitalQ1 2016vs Q1 2015$152.5MM$146.0MM
Loan Loss AllowanceQ1 2016vs Q1 2015$3.0MM$3.2MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$2.3MM$1.2MM
Real Estate OwnedQ1 2016vs Q1 2015$128.00K$248.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

State Department Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--IRA Share
0.10%--Regular Savings
0.10%--Custom Savings

State Department Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$100k*-Premiere Money Management Shares
OTHER TIERS: 0.40% $25k - $50k | 0.50% $50k - $100k
0.30%$2k-Prime Money Management Shares

State Department Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%$25k-Privilege Checking - Qualifying
0.40%$2k-Advantage Checking - Qualifying

State Department Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%$500-60 Month Certificate
2.02%$100k-60 Month Jumbo Certificate
1.61%$500-48 Month Certificate
1.61%$100k-48 Month Jumbo Certificate
1.45%$500-36 Month Certificate
1.45%$100k-36 Month Jumbo Certificate
1.36%$500-45 Month Bump Up Certificate
1.36%$100k-45 Month Jumbo Bump Up Certificate
1.21%$500-24 Month Certificate
1.21%$100k-24 Month Jumbo Certificate
1.20%$500-30 Month Bump Up Certificate
1.20%$100k-30 Month Jumbo Bump Up Certificate
0.95%$500-12 Month Certificate
0.95%$500-17 Month Bump Up Certificate
0.95%$100k-12 Month Jumbo Certificate
0.95%$100k-17 Month Jumbo Bump Up Certificate
0.65%$500-6 Month Certificate
0.65%$100k-6 Month Jumbo Certificate

State Department Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.12%$500-60 Month IRA Certificate
1.71%$500-48 Month IRA Certificate
1.45%$500-36 Month IRA Certificate
1.21%$500-24 Month IRA Certificate
0.95%$500-12 Month IRA Certificate
Locations


State Department Federal Credit Union Locations
Branch OfficeBuilding 41 Fort Lesley J McNairWashington, DC 20319-0001
Branch Office301 4th St SW Rm 130Washington, DC 20547-0001
Branch OfficeRoom B-641 2201 C St NW,Washington, DC 20521-0001
Branch Office1954 Greenspring DrTimonium, MD 21093
Branch Office1630 King StAlexandria, VA 22314-2763
Branch Office3100 Clarendon BlvdArlington, VA 22201