2. Transportation Federal Credit Union

Transportation Federal Credit Union


Overview / Commentary
www.transfcu.org
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 999th largest credit union in the nation. It was established in 1939 and as of June of 2019, it had grown to 53 employees and 20,731 members at 3 locations. Transportation Federal Credit Union's CD rates are 2X the national average, and it has a B 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

Transportation Federal Credit Union Has Top 2-Year CD, 2.86% APY - 8/16/2019

Transportation Federal Credit Union (easy membership) is celebrating its 80th Anniversary with a 2-year CD (2.83% APY, $1k), and 2-year Jumbo CD (2.86% APY, $100k).

2 YEAR Cd / 2.83% APY (2.86 JUMBO) - 6/13/2019

https://www.transfcu.org/?page=anniversary_certificates Easy Membership: Member American Consumer Council; DOT and Fed Aviation Admin- related employees, military, contractors, and related occupational groups. As of June 4. New money. 202-366-9400

Transportation FCU 12 Months/ 2.70 % APY - 12/21/2018

Minimum $1000 / Maximum $100,000 New Funds from another Institution; Offer for a Limited Time Not the highest rate out there, but an easy to join.

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Reviews (3)

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.

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.

6

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

Posted by: ET | Aug 29, 2019

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.

1


Health
B

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #3140
Year Chartered1939
Employees53
Primary Regulator
Profit Margin
Return on Assets - YTD0.25%
Return on Equity - YTD2.47%
Annual Interest Income$5.0MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$226.2MM$239.2MM
LoansQ2 2019vs Q2 2018$172.8MM$152.1MM
DepositsQ2 2019vs Q2 2018$198.2MM$214.2MM
Equity CapitalQ2 2019vs Q2 2018$23.1MM$22.9MM
Loan Loss AllowanceQ2 2019vs Q2 2018$1.8MM$776.00K
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$2.2MM$589.00K
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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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
0.45%$25-IRA Share
0.20%$5-Regular Share
0.20%$5-Holiday Club

Transportation Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%*$50k*-Money Market Account
OTHER TIERS: 0.70% → $2.5k - $10k | 0.75% → $10k - $20k | 0.80% → $20k - $50k

Transportation Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Convenience Checking
0.10%--On the Move Checking

Transportation Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.98%$100k-5 Year Jumbo CD
2.78%$1k-5 Year CD
2.57%$100k-4 Year Jumbo CD
2.40%$1k-4 Year CD
2.37%$100k-3 Year Jumbo CD
2.30%$1k-3 Year CD
2.17%$100k-2 Year Jumbo CD
1.96%$1k-2 Year CD
1.96%$100k-1 Year Jumbo CD
1.86%$1k-1 Year CD
1.25%$1k-6 Month Money Market CD
1.16%$250-6 Month Affordable CD
0.45%$25-12 Month First Step CD

Transportation Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.98%$100k-5 Year Jumbo IRA
2.88%$1k-5 Year IRA
2.68%$100k-4 Year Jumbo IRA
2.57%$1k-4 Year IRA
2.47%$100k-3 Year Jumbo IRA
2.37%$1k-3 Year IRA
2.27%$100k-2 Year Jumbo IRA
2.12%$1k-2 Year IRA
2.07%$100k-1 Year Jumbo IRA
1.97%$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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