State Department Federal Credit Union


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 132nd largest credit union in the nation. It was established in 1935 and as of December of 2019, it had grown to 203 employees and 87,929 members at 6 locations. State Department Federal Credit Union's money market rates are 2X 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

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Superior Service And Convenience

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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.

New Savings And 5Yr CD

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Starting on Jan 22, I began the process of becoming a member in order to open a CD plus a savings account, which is a requirement of all members. During the two weeks from contact, they requested I resubmit photos of my SS card and utility bill. They claim the photos where not clear. They looked fine to me. FYI, no problem with my Drivers Lic. download. No live person to ask why the documents were unclear. Plus, when you call the main number, they do not have a department that handles new accounts. Therefore, you can not talk to a live person. I never had to furnish all these documents to open an account on line before. In addition, I also made a promise to pay $8.00 to their charity, which I did. In addition, they promised the rate would not go down, but they did. As of today, they are requesting I resend the utility bill. Which means they need another 3 days to review
In addition, they stated my application will be terminated if the documents are not received within 4 days. I would not recommend this CU. I went on PEN AIR this morning, and instantly became a member. No fee to give to a charity. Plus the rate was higher. Very disappointed with SDFCU, They are not up to date on tech.support.

Poor Customer Service

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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.

5 Yr. Cd State Dept. FCU

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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!

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Health

Health Grade Components

Overall
NCUA #435
Year Chartered1935
Employees203
Primary Regulator
Profit Margin
Return on Assets - YTD0.84%
Return on Equity - YTD8.23%
Annual Interest Income$70.9MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$2.17B$1.99B
LoansQ4 2019vs Q4 2018$1.21B$1.19B
DepositsQ4 2019vs Q4 2018$1.80B$1.57B
Equity CapitalQ4 2019vs Q4 2018$215.5MM$185.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$6.1MM$5.5MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$5.1MM$7.1MM
Real Estate OwnedQ4 2019vs Q4 2018$49.00K$80.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not State Department Federal 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.

State Department Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%--IRA Share
0.10%--Regular Savings
0.10%--Custom Savings

State Department Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$100k*-Premiere Money Management Shares
OTHER TIERS: 0.60% $25k - $50k | 0.70% $50k - $100k
0.50%$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
1.76%$500-60 Month Certificate
1.76%$100k-60 Month Jumbo Certificate
1.41%$500-48 Month Certificate
1.41%$100k-48 Month Jumbo Certificate
1.31%$500-36 Month Certificate
1.21%$500-24 Month Certificate
1.21%$100k-24 Month Jumbo Certificate
1.15%$500-45 Month Bump Up Certificate
1.15%$100k-45 Month Jumbo Bump Up Certificate
1.05%$500-30 Month Bump Up Certificate
1.05%$100k-30 Month Jumbo Bump Up Certificate
1.00%$500-12 Month Certificate
1.00%$100k-12 Month Jumbo Certificate
0.95%$500-17 Month Bump Up Certificate
0.95%$100k-17 Month Jumbo Bump Up Certificate
0.75%$500-6 Month Certificate
0.75%$100k-6 Month Jumbo Certificate

State Department Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.86%$500-60 Month IRA Certificate
1.51%$500-48 Month IRA Certificate
1.41%$500-36 Month IRA Certificate
1.31%$500-24 Month IRA Certificate
1.10%$500-12 Month IRA Certificate
Locations


State Department Federal Credit Union Locations
Branch Office1630 King StAlexandria, VA 22314-2763
Branch OfficeBuilding 41 Fort Lesley J McNairWashington, DC 20319-0001
Branch Office1801 N Lynn StArlington, VA 22209
Branch Office3100 Clarendon BlvdArlington, VA 22201
Branch OfficeRoom B-641 2201 C St NW,Washington, DC 20521-0001
Branch Office2009 Dyess Ave Bldg FCharleston, SC 29405-2502

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