State Department Federal Credit Union
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 161st largest credit union in the nation. It was established in 1935 and as of March of 2025, it had grown to 215 employees and 87,234 members at 6 locations. State Department Federal Credit Union has a B+ 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
Positive Experience, Satisfied So Far
I opened my account 15 months ago.
Online.
Their website is good, reliable so far.
(A few things do not work - like checking your FICO score, but I know this from other source, so this is not very important)
It is easy to buy CDs from the checking account.
A month before expiration they remind you whether you want to renew the CD or put the money back to your checking.
It is also easy to pay their and other credit cards from the checking account. So my experience is positive.
Initial Deposit Ceiling
Today I began the process of joining this credit union, with the intent of setting up a 5-year jumbo CD before rates fall even further. The application process went well until I got to the funding page. The maximum allowable initial deposit is only $50K, which means that I could not set up a jumbo CD at this time. The rate difference between a jumbo and a regular CD is 21 bp which is not insignificant.
I spoke with a representative who told me I could wire the funds in, but not until my basic membership application has been approved. The upshot is that I went forward with the basic membership application (cost me $1) but am at risk of rate changes until I am able to set up the CD.
Stay tuned for updates.
Advertise But Dont Deliver
I applied and was immediately turned down. After all required documents were submitted they said no because of an adverse loan issue. I have no loans at all and a credit card that is paid off monthly. Perhaps its because my id shows that I am black. Could it be?
Good Credit Union
In June of 2023 I joined primarily for the credit card. Since then I have added two CD’s at a good rates. The credit card was reviewed and I was given a credit limit increase. I did not rate the customer service I have only talked them once or twice. I do most everything online. As need arises I will expand my relationship with them
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 435 |
| Year Chartered | 1935 |
| Employees | 215 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.24% |
| Return on Equity - YTD | 3.43% |
| Annual Interest Income | $32.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $2.95B$2.79B |
| Loans | Q1 2025vs Q1 2024 | $1.47B$1.41B |
| Deposits | Q1 2025vs Q1 2024 | $2.39B$2.24B |
| Equity Capital | Q1 2025vs Q1 2024 | $205.5MM$167.7MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $16.1MM$14.6MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $15MM$13.2MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |