Transportation Federal Credit Union


Overview / Commentary
202-366-9400
1600 Cameron St Suite 200
Alexandria, VA 22314

Transportation Federal Credit Union is headquartered in Alexandria and is the 30th largest credit union in the state of Virginia. It is also the 955th largest credit union in the nation. It was established in 1939 and as of June of 2020, it had grown to 47 employees and 21,136 members at 3 locations. Transportation Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership in Transportation Federal Credit Union is open to anyone through joining the American Consumer Council. Membership is also open to active or retired employees of the Department of Homeland Security, the Transportation Security Administration and over 100 Select Employer Groups located in Washington D.C. and the surrounding area.
See current membership details

Related Posts

Rates Drop--Big Time - 3/2/2020

Long term 5yr rate drops from 2.95 to 2.02.....

Transportation Federal Credit Union Has Rate Leader 5-Year CD - 2/8/2020

Transportation Federal Credit Union (easy membership) is currently offering 2.98% APY on its 5-year Jumbo CD ($100k) and 2.78% APY on its 5-year CD ($1k). Also as IRAs.

One Of The Few Remaining Nearly 3% Cds - 2/7/2020

Transportation Federal CU (available to certain DC and Maryland residents and Fed. employees - check website for eligibility) still has a 60 month CD for 2.78 under $100K and 2.98% for $100K and larger.

View all posts from:


Reviews (6)

Opening A New Account

Posted by: |

I filled out an online application in the morning and was approved by the afternoon! Docusigned all the paperwork and uploaded my ID’s. Funded the share account (5.00) with my credit card. Called the next morning and was given my account number. Then I was able to enroll in online banking. Then I set up my outside bank to transfer any funds in or out. (ACH)Very easy process! Mia is the member services account rep that was so helpful.

Details On Opening An Account

Posted by: |

Well - - good news is that they did accept my paperwork and gave me the special CD rate. High marks there.

BUT, and this is a true story, I had mailed in my application snail mail on 2/3. Included my application and checks for share, checking, and CD.

I got in their member PASSPORT (new account) today 2/27/17.

Turns out, I had just dropped my wife's passport into the FEDS to have it renewed. That was 2/6. Got it back 2/23 using all normal mailing and shipping. So it took less time to get our official US PASSPORT renewed than it did to get this account opened at Transportation FCU.

Take away from this note: They may be OK or even good, but do not get in a hurry.

Close Call On Funding Promotional CD

Starting in February of 2016, this credit union had a promotional 3 year CD with an APY of 2.50%. Since they insisted on having you submit your membership application via snail mail, that slowed the process down considerably. Once they got the papework, the customer service people at the credit union were great. However, their marketing department that sets and rescinds the promotional CD rates left a lot to be desired. I say this because on February 16th, they cut the rate for the CD to 1.2%! Luckily, I received the promotional rate. However, this is a cautionary tale with regards to promotional CD's. Most of them have some sort of "subject to change at any time" caveats. This is the first time that I've experience a financial institution exercising that option in such a short amount of time. 16 days? I never would have gotten an IRA set-up and funded in that amount of time. Luckily, the CD that I created was for a taxable account and other than the membership application there wasn't any other paperwork involved. Whenever I pop for one of these "promotional" CD's, I alway fund a savings account first. Once that's cleared, I verify that the promotional CD rate still exists. If it does, I have them create the CD. If it doesn't this gives me the option of taking the money back out of the institution without incurring some sort of early withdrawal penalty. So far, I've never had to yank money right back out of a new account. However, it was a close call on this one.

Not A Good Experience

Agonizing process to open an account.

Sorry I Bothered

Posted by: |

I became a member of the American Consumer Credit Council and applied for membership at FTCU on February 8. I wanted to open a jumbo CD. They will not give your account number to you over the phone. It has to come via snail mail. Can't open a CD until you know your account number. Eleven days and waiting. Waste of $8 to join the Council.

Do Not Waste Your Time With This FCU, Which Requires Hard Pulls And Unfreeze Your Credit With All Three Credit Bureaus.

Posted by: |

I would like to give them a zero star if allowed.

What a joke. Initially when I called, I was told they only do soft pull with Equifax.

After completing application online and uploaded documents, I was told to unfreeze credit with all three credit bureaus. Normally only one is necessary.

To my shocking surprise, they already did a hard pull with TransUnion. They still insisted on doing a hard pull with Equifax.

I am only trying to open a CD, not applying for a loan. Is it necessary to jeopardize my credit by these hard pulls for a CD? There are other banks and credit unions with competitive rates do not have such stringent requirement.

Stay away! Save yourself some grief.



Health

Health Grade Components

Overall
NCUA #3140
Year Chartered1939
Employees47
Primary Regulator
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD3.01%
Annual Interest Income$5.3MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$270.6MM$226.2MM
LoansQ2 2020vs Q2 2019$169.7MM$172.8MM
DepositsQ2 2020vs Q2 2019$245.0MM$198.2MM
Equity CapitalQ2 2020vs Q2 2019$23.3MM$23.1MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.6MM$1.8MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$591.00K$2.2MM
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Transportation 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.

Transportation Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%$5-Regular Share
0.03%$5-Holiday Club
0.03%$25-IRA Share

Transportation Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.07%*$50k*-Money Market Account
OTHER TIERS: 0.03% $2.5k - $10k | 0.05% $10k - $50k

Transportation Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%--Convenience Checking
0.03%--On the Move Checking

Transportation Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$100k-5 Year Jumbo CD
0.55%$100k-4 Year Jumbo CD
0.50%$100k-3 Year Jumbo CD
0.48%$1k-4 Year CD
0.48%$1k-5 Year CD
0.45%$1k-3 Year CD
0.45%$100k-2 Year Jumbo CD
0.40%$1k-2 Year CD
0.40%$100k-1 Year Jumbo CD
0.30%$1k-1 Year CD
0.25%$250-6 Month Affordable CD
0.25%$1k-6 Month Money Market CD
0.08%$25-12 Month First Step CD

Transportation Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$100k-5 Year Jumbo IRA
0.55%$100k-4 Year Jumbo IRA
0.50%$100k-3 Year Jumbo IRA
0.48%$1k-5 Year IRA
0.48%$1k-4 Year IRA
0.45%$1k-3 Year IRA
0.45%$100k-2 Year Jumbo IRA
0.40%$100k-1 Year Jumbo IRA
0.40%$1k-2 Year IRA
0.30%$1k-1 Year IRA
Locations


Transportation Federal Credit Union Locations
Branch Office55 BroadwayCambridge, MA 02142
Branch Office800 Independence Ave SW # 128Washington, DC 20591-0001
Branch Office1200 New Jersey Ave SE Fl 1Washington, DC 20590-0001

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