United States Senate Federal Credit Union is headquartered in Alexandria and is the 13th largest credit union in the state of Virginia. It is also the 345th largest credit union in the nation. It was established in 1935 and as of June of 2023, it had grown to 138 employees and 53,790 members at 4 locations. United States Senate Federal Credit Union's CD rates are 6X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in United States Senate Federal Credit Union is open to a Member of The U.S. Capitol Historical Society, Member of The American Consumer Council. You can become a member if you work or retired from over 100 Select Employee Groups. Membership is also open to immediate family member of a current USSFCU Member.
See current membership details
Related Posts
9/1 - Rates Up A Little. ussfcu
8/20 - USSFCU 3 Yr 5.13% APY Bump Share Certificate
7/17 - $200 CD Bonus Promotion
7/5 - USSFCU Bonuses Up To $400
5/23 - United States Senate Fed Credit Union Long-Term CDs Are Rate-Leaders
3/1 - USSFCU Has Special Offer For CD Holders For A Limited Time
1/27 - $118 Bonus For New USSFCU Members
10/20 - 20 Month CD Paying 4.6%
10/11 - 3.75% APY Special 36-Month Certificate
10/7 - 36 Month 3.75
1/24 - United States Senate Fed Credit Union Has New Member Bonus Up To $200
1/3 - United States Senate FCU Nudges Up Rate On Top 60-Month CD
1/2 - United States Senate FCU (Easy Membership) Ups 60-Month Share Certificate To 3.69% APY ($60K Min)
10/2/18 - CD Rates Tweaked A Bit, Nothing Really Competitive Except 5 Year, And No One Should Do A 5 Year In This Environment
10/1/18 - United States Senate FCU - 5 Year CDs Increase By 10 Basis Points, Up To 3.63% APY
8/3/18 - United States Senate Fed Credit Union Ups 60-Month CD
8/2/18 - TOP RATE! 3.53% APY, Share Certificate (CD), $60K+
7/13/18 - HOT NEW RATES!! 3.27% APY 5 Year Share Certificate With USSFCU
3/2/18 - United States Senate FCU's 60-month CD Rate Increased
1/2/18 - United States Senate FCU Ups 60-Month CD Rate
9/1/17 - 60 Month Jumbo (> $60K) 2.55% APY
2/16/17 - United States Senate FCU Ups 60-Month Smart CD Rate
6/1/12 - US Senate FCU Big-Breast Mailing Sparks Petition
9/26/11 - Top Long-Term CD Rates at US Senate Federal Credit Union - Easy Membership
Credit Union Helped Me
I started my first job in the United States Senate and my paycheck was deposited into the United States Senate Federal Credit Union. I had never had two nickels to rub together and the credit union helped me save money. The credit union had great advisors who helped me plan for retirement by starting an IRA so I could have many options for investing for the future. The credit union has branches both in D.C. and in the suburbs where I lived so I could get cash from the ATM.They also made it super easy for me to transfer money to my family. Mostly, I loved the advice since I was so inexperienced and I became friends with the staff. Having advice was crucial for me and getting advice from the credit union made me feel like I was protected. Later, I had bank accounts with other banks that were always trying to sell me services and products that I didn't want or need. The credit union was more honest and objective and so I felt like I was being looked after like an equal, not treated like a cow to milk like the ripoff banks.
USSFCU Has Special Offer For CD Holders For A Limited Time
USSFCU is currently allowing members with certificates to break and renew them without penalty at the current rates. This week I broke a regular and an IRA CD and renewed them both for another five-year term at the prevailing rates. Both of my CDs still had about a year to go on them until maturity.
I think it's worth a call to see if your CDs are eligible. I had no eligibility issues myself (both CDs were maturing within a year).
If you are a USSFCU member with a CD and received an email from USSFCU recently announcing this program and thought it was a scam, I can tell that you that it isn't.
FYI.
Application Denied Hijinks
USSFCU just denied our joint application for membership on 5/26/2023. The say they will be mailing a rejection letter explaining why! We were trying to open a joint share account in able to obtain a Jumbo Share Certificate @ 5.28 APY for 2 years.
Again, puzzling, we have no debt, own our home outright, FICO Score of 814, and High seven figure Net Worth.
I'm making an assumption, that its the Chexsystem they are using to deny membership. My ChexSystem score is 673 out of 800 and there isn't any negative information listed. The only thing listed is the numerous (9) Credit Union accounts listed where we had to open up share accounts in order to obtain jumbo CD's with the Credit Union. I had no problem opening up accounts with 7 of the Credit Unions listed. However, USSFCU and another one denied membership.
It seems that USSFCU doesn't realize there are a lot of CD shopper's out there that are forced to open up multiple accounts in sometime short time frames in order to obtain good CD rates and meet NCUA insurance limits.
I understand that the opening of many accounts at once may be a red flag, but a real financial institution should be aware that not all applicants can be fitted into one size.
Or could it be that USSFCU is just looking for customers that will use their products so they can make fees/interest off them?
Anyway if you fall into my scenario, stay away from USSFCU so you don't waste your time.
.Addendum: As of June 8, 2023, no correspondence received from USSFCU listing reason(s) why application rejected. Talk about :Star Chamber proceedings! Denied Membership but never provided the reasons why by your accuser?
CD Delayed
I applied to open a joint savings account online and paid the lifetime membership & funded the savings account with a debit card. These are 2 different transactions posted on my debit card account. I was approved the next day (paperwork DocuSigned and received message saying we're now a members), I enrolled in their online banking system and deposited checks to my savings account via a shared branch. Everything was all set up to open a CD I thought. The next day I called USSFCU about opening a CD and they told me they could not do it until the 2 debit card transactions clear(CU membership fees $2.00, $10.00 minimum joint savings) ! I was told that this could take up to 2 days to clear. Even though my debit transactions show "pending" they would not make an exception to guarantee the CD rate so that I can open the CD when the debit transactions clear!!
USSFCU should NOT have informed new members that their application is approved until all the credit/debit card transactions have cleared! For those interested in opening a CD account there may be a delay due to this technical issue!
I have opened online CDs with other financial institutions(using credit to fund a savings account/membership fees) and have never had this happen to me before! Anyone ever run into this situation?
It's Friday today so now I may have to wait until Monday and the CD rate may change at any time! I believe they should make an exception in my case but they refuse to!
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 624 |
| Year Chartered | 1935 |
| Employees | 138 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.58% |
| Return on Equity - YTD | 6.63% |
| Annual Interest Income | $32.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.31B$1.19B |
| Loans | Q2 2023vs Q2 2022 | $1.11B$964.5MM |
| Deposits | Q2 2023vs Q2 2022 | $1.16B$1.08B |
| Equity Capital | Q2 2023vs Q2 2022 | $113.6MM$109.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$6.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $5.0MM$3.8MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |