State Farm Federal Credit Union


Overview / Commentary
888-521-5209
1 State Farm Plaza
Bloomington, IL 61710

State Farm Federal Credit Union is headquartered in Bloomington and is the 4th largest credit union in the state of Illinois. It is also the 102nd largest credit union in the nation. It was established in 1936 and as of March of 2024, it had grown to 140 employees and 121,471 members at 1 location. State Farm Federal Credit Union's savings rates are 7X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in State Farm Federal Credit Union is open to employees, retirees, and agents of U.S. State Farm and their family.
See current membership details

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Reviews (1)

State Farm Credit Union

We have had an account with State Farm Credit Union for over 15 years. My husband is an employee of the company and it is very convenient to use them. We have access to them online or my husband's office has a Credit Union counter in it so we can also go there in person. We have multiple savings accounts with them as well as a line of credit. There rates for borrowing cannot be beat and their interests rates on savings accounts are on par with other banks and financial institutions. We choose to have almost all of our savings there because we feel it is better protected at the credit union verses an regular bank. We never have an issue transferring money or getting a check issued to us on the same day. We also have easy access to deposit and transfer money into the account. Most electronic transfers all happen with twenty four hours. I do not see us moving our savings anytime soon due to our satisfaction with State Farm credit union.



Health
B+

Health Grade Components

Overall
NCUA #1273
Year Chartered1936
Employees140
Primary Regulator
Profit Margin
Return on Assets - YTD0.65%
Return on Equity - YTD4.48%
Annual Interest Income$36.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$4.33B$4.98B
LoansQ1 2024vs Q1 2023$1.05B$1.02B
DepositsQ1 2024vs Q1 2023$3.69B$4.44B
Equity CapitalQ1 2024vs Q1 2023$631.5MM$545.8MM
Loan Loss AllowanceQ1 2024vs Q1 2023$5.3MM$5.2MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1.7MM$609K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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State Farm Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.56%$0-Share Savings Account
3.56%$0-IRA Savings Account
3.56%$0-Electronic Share Accounts
Locations


State Farm Federal Credit Union Locations
Branch Office1 State Farm Plz SA-1Bloomington, IL 61710-0001

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