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State Employees Federal Credit Union

Popular Accounts at this Credit Union

0.15%1-year CD10 Month CD
0.10%SavingsOwner's Choice
0.95%4-year CD48 Month CD

Overview / Commentary
575 Broadway
Albany, NY 12207

State Employees Federal Credit Union is headquartered in Albany and is the 7th largest credit union in the state of New York. It is also the 50th largest credit union in the nation. It was established in 1934 and as of March of 2016, it had grown to 787 employees and 330,589 members at 46 locations. State Employees Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to those who are employees (current or retired), member, or volunteer of a participating SEFCU member group or live, work, attend school, or worship in one of these cities or towns: Albany, Amherst, Barker - Binghamton, Barton, Berkshire, Binghamton, Buffalo, Candor, Cohoes, Colesville, Conklin, Dickinson, Green Island, Kirkwood, Lisle, Lackawanna, Maine, Mechanicville, Montgomery County, Nichols, Nanticoke, Otsego County, Rensselaer, Richford, Sanford, Schenectady, Spencer, Syracuse, Triangle, Troy, Union or Watervliet.
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Reviews (1)


Posted by: mkm42 | May 29, 2015

SEFCU (State Employees Federal Credit Union) is a small credit union with branches around upstate New York. I have three accounts there because they are a pleasure to work with. At my old credit union, I used to bounce checks regularly -- because they held all of my deposits for days (including my state paycheck!), but debited any outgoing checks in milliseconds. So they collected tons of fees. My financial habits haven't changed, but I've never had to pay an overdraft fee at SEFCU because they apply the same timing to incoming and outgoing checks. The credit union offers a full range of checking, savings, CDs and loans with competitive rates. None of my accounts are large, but the employees at SEFCU treat me with respect. At the branch I visit most often, the tellers greet me by my first name before I get to the counter. ATMs are conveniently located and do not charge any fees. Some branches have coin-counting machines, with the option of depositing some or all of the coin total directly into your account -- this is quick and convenient if you accumulate pennies and nickels like I do.


Health Grade Components

NCUA #51
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD0.47%
Return on Equity - YTD6.47%
Annual Interest Income$23.2MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$3.15B$2.94B
LoansQ1 2016vs Q1 2015$1.80B$1.64B
DepositsQ1 2016vs Q1 2015$2.89B$2.69B
Equity CapitalQ1 2016vs Q1 2015$226.9MM$211.3MM
Loan Loss AllowanceQ1 2016vs Q1 2015$19.8MM$18.6MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$8.6MM$11.5MM
Real Estate OwnedQ1 2016vs Q1 2015$4.5MM$4.6MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

State Employees Federal Credit Union Savings Account Rates

0.45%--Preferred Plus Savings
0.40%*$50k*-Preferred Savings
OTHER TIERS: 0.10% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
0.40%*$50k*-IRA Share
OTHER TIERS: 0.10% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
0.40%*$50k*-Roth IRA Shares
OTHER TIERS: 0.10% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
0.10%--Education IRA Share Savings
0.10%--Holiday Savings Club
0.10%$25-Mint Share
0.10%$25-Boomer Club
0.10%$25-Smart Sense
0.10%--Owner's Choice

State Employees Federal Credit Union CD Rates

1.00%--60 Month CD
0.95%--48 Month CD
0.70%--36 Month CD
0.70%--36 Month - Add-On
0.50%--24 Month CD
0.50%--24 Month Add-On
0.50%$500-24 Month HSA
0.45%--30 Month CD
0.40%--18 Month CD
0.40%--Risk-Free Share CD
0.40%--18 Month Add-On CD
0.40%$500-18 Month HSA
0.20%--12 Month CD
0.20%--15 Month CD
0.20%$500-12 Month HSA
0.15%--3 Month CD
0.15%--6 Month CD
0.15%--9 Month CD
0.15%--10 Month CD
0.15%$500-6 Month HSA

State Employees Federal Credit Union IRA Rates

1.00%--60 Month IRA
1.00%--60 Month CESA
0.95%--48 Month IRA
0.95%--48 Month CESA
0.70%--36 Month IRA
0.70%--36 Month CESA
0.50%--24 Month IRA
0.50%--24 Month CESA
0.50%--24 Month Add-On IRA
0.50%--24 Month Add-On CESA
0.40%--18 Month IRA
0.40%--18 Month CESA
0.20%--12 Month IRA
0.20%--12 Month CESA
0.20%--15 Month IRA
0.15%--6 Month IRA
0.15%--6 Month CESA
0.15%--10 Month IRA

State Employees Federal Credit Union has 46 locations. Click to view all State Employees Federal Credit Union locations.