University Federal Credit Union


Overview / Commentary
512-467-8080
8303 N Mo Pac Expy
Austin, TX 78759

University Federal Credit Union is headquartered in Austin and is the 8th largest credit union in the state of Texas. It is also the 108th largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 782 employees and 356,945 members at 23 locations. University Federal Credit Union's money market rates are 5X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in University Federal Credit Union is open to anyone through joining the University of Texas Longhorn Foundation (one-time $20 donation). Membership is also open to the following: (1) faculty, staff and students of the University of Texas-Austin and University of Texas Medical Branch; (2) employees of eBay, Inc., Intel Corp. and over 200 Select Employer Groups; (3) members of Austin Technology Council, Texas Oil and Gas Association and other area organizations.
See current membership details

Great service

I have been a customer with University Federal Credit Union for over a decade, and I can say that they have been helpful and courteous every step of the way. I'll start off by saying that their savings rates are not the most competitive in the industry, but they make up for it in quality service, where you feel that you will never be scammed out of your hard-earned money. As a student and staff member at my university, UFCU offers me early deposits for my paychecks, which is very welcome. Also, they set me up with two free checking accounts, one for online purchases only, after a scam incident (that was not their fault). They have worked hard to give me options to ensure I am not a victim of a scam, and are always trying to help me with my checking account needs. They have very competitive ATM fees, and are very lenient on overdraft fees. All in all, I think this credit union is the best "bank" I have dealt with in my lifetime.

UFCU Is A Great Option If You're In Austin

Posted by: |

I primarily used UFCU when I was a student at UT. They have plenty of ATMs and several branches down around the UT campus. In all of my dealings with UFCU, I've found their customer service to be excellent. I have maintained an account with them over the years because it's easy to do and if I ever need a loan, they'll be one of the first places I look.

Advantages:
Lots of ATMs near UT's campus You can use the debit cards at other in-network credit union ATMs UFCU is not a big, for-profit bank. They don't look to rip you off in the same way Chase or BoA would. I'm told their loan terms are good, though I've never taken advantage of those myself. Great customer service Disadvantages:
Their ATM network--even when you include non-UCFU credit union ATMs--isn't huge All in all, I like UFCU quite a bit.

Slow Go To Get Money Out

Posted by: |

FYI - just had large CD mature.

Turns out ACH to external account is limited to $10K, and only 6 transactions per month.

They participate at shared branch, but limit is $25K plus fees.

OK - just mail a check. No problem-o, here's your bill for $3 for us to make out a check.

Not the end of the world, but I have not seen this at any other credit union.

You can avoid the fee IF you are local and go into a branch. Not an option for me.

Change In EWP

Posted by: |

Jumbo cd 60 months at signing offered 180 ewp and no penalty for removing interest. To my dismay that was changed dramatically. If you look at UFCU 60 month fees no mention of charges on ewp or withdraws on interest. So calling them I asked about my original agreement. Three times I called just to make sure it was correct. EWP for 60 month jumbo cd is complete loss of interest. Same goes for withdrawing partial interest accrued. Bogus. Have other CD’s at other CU’s over the years and this was the first to reverse their policies. They can I guess but
this account will be closed on maturity.

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Health

Health Grade Components

Overall
NCUA #1367
Year Chartered1936
Employees782
Primary Regulator
Profit Margin
Return on Assets - YTD0.75%
Return on Equity - YTD11%
Annual Interest Income$87.8MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$3.87B$3.89B
LoansQ3 2022vs Q3 2021$2.86B$2.41B
DepositsQ3 2022vs Q3 2021$3.49B$3.53B
Equity CapitalQ3 2022vs Q3 2021$264.5MM$288.4MM
Loan Loss AllowanceQ3 2022vs Q3 2021$15.7MM$16.4MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$11.6MM$7.2MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not University 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.

University Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$5-Teen Savings
0.25%$5-Kidz Savings
0.25%$100-Premium Business Savings
0.01%$100-Savings
0.01%$100-Variable Rate IRA
0.01%$100-Business Savings

University Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$1m*-Money Market
OTHER TIERS: 0.01% Up to $10k | 0.15% $10k - $50k | 0.50% $50k - $100k | 1.00% $100k - $500k | 1.25% $500k - $1m
0.06%-$10kMoney Market w/ Member Checking Rewards

University Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%-$500Teen Checking
0.05%$100-Premium Business Checking
0.01%$2.5k-Plus Checking

University Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%$1k-60 Month Fixed CD
3.00%$1k-48 Month Fixed CD
2.75%$1k-12 Month Fixed CD
2.75%*$100*$20k12 Month Early Saver CD
OTHER TIERS: 0.25% $20k+
2.70%$1k-36 Month Fixed CD
2.50%$1k-24 Month Fixed CD
2.35%$1k-24 Month Fixed Step Up CD
1.00%$1k-6 Month Fixed CD
0.50%$1k-3 Month Fixed CD

University Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%$1k$100k60 Month Fixed IRA
3.00%$1k$100k48 Month Fixed IRA
2.75%$1k$100k12 Month Fixed IRA
2.70%$1k$100k36 Month Fixed IRA
2.50%$1k$100k24 Month Fixed IRA
2.35%$1k$100k24 Month Fixed Step Up IRA
1.00%$1k$100k6 Month Fixed IRA
Locations

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