Transportation Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
2.12%	5-year IRA	5 Year Jumbo Traditional IRA (Traditional, Roth, CESA) 1.52% - National Average
1.71%	3-year IRA	3 Year Jumbo Traditional IRA (Traditional, Roth, CESA) 1.03% - National Average
2.02%	5-year CD	5 Year Jumbo CD 2.35% - Synchrony Bank 60 Month CD

View all Transportation Federal Credit Union rates »

Overview / Commentary

www.transfcu.org

800-368-8432

1600 Cameron St Suite 200
Alexandria, VA 22314

Transportation Federal Credit Union is headquartered in Alexandria and is the 30^th largest credit union in the state of Virginia. It is also the 926^th largest credit union in the nation. It was established in 1939 and as of March of 2017, it had grown to 52 employees and 19,686 members at 3 locations. Transportation Federal Credit Union's CD rates are 22% higher than the national average, and it 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

I just received the Truth in Savings Act disclosure in the mail. At the request of Sylvia, I am posting the EWP language: "If you withdraw funds prior to the maturity date, your account will be closed and a penalty equal to 180 days of dividends at the current rate will be charged on the account. The penalty is limited to dividends paid to date on this account."

Transportation FCU Adds 3-Year CD (2.51% APY) - 2/3/2017

Transportation FCU (easy membership) has added a 3-Year Special Share Certificate (2.51% APY). The minimum deposit is $1k, with a balance cap of $100k per member.

3-Year Special CD - 2/2/2017

It seems that Transportation FCU (easy membership) has brought back its 3-year special CD. Rate is 2.51% APY and maximum deposit is $100k.

View all posts from:

2017
2016
2014
Earlier

2/13 - EWP On 36-Month Special CD
2/3 - Transportation FCU Adds 3-Year CD (2.51% APY)
2/2 - 3-Year Special CD

2/4 - Transportation FCU Offers Limited-Time, Top-Rate 3-Year CD

2/21 - Special 3-Year CD Rate at Transportation Federal Credit Union in DC

7/3/13 - Top IRA CD Rates at Transportation Federal Credit Union
3/29/12 - Competitive CD Rates at Transportation FCU - Limited Membership
12/10/08 - 4.58% 12-Month CD at Transportation FCU in DC & MA
1/31/07 - 5.61% 12-Month / 5.61% 18-Month CD at a DC/MA CU (Transportation)

Reviews (2)

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Details On Opening An Account

Posted by: Anon456 | Feb 28, 2017

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.

Comment

1

Close Call On Funding Promotional CD

Posted by: Inflation_Hawk | Feb 27, 2016

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.

Comment

6

Health

A

Data as of Q1 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #	3140
Year Chartered	1939
Employees	52
Primary Regulator

Profit Margin
Return on Assets - YTD	-0.18%
Return on Equity - YTD	-1.87%
Annual Interest Income	$1.8MM

Assets and Liabilities
Assets	Q1 2017vs Q1 2016	$234.1MM$215.9MM
Loans	Q1 2017vs Q1 2016	$126.6MM$132.6MM
Deposits	Q1 2017vs Q1 2016	$209.8MM$192.6MM
Equity Capital	Q1 2017vs Q1 2016	$21.8MM$21.6MM
Loan Loss Allowance	Q1 2017vs Q1 2016	$460.00K$521.00K
Unbacked Noncurrent Loans	Q1 2017vs Q1 2016	$590.00K$420.00K
Real Estate Owned	Q1 2017vs Q1 2016	$0$0

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