University Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.00% | 5-year CD | 3.10% - Synchrony Bank 60 Month CD |
| 2.15% | 1-year CD | 2.50% - Synchrony Bank 12 Month CD |
| 0.25% | Savings |
University Federal Credit Union is headquartered in Austin and is the 8th largest credit union in the state of Texas. It is also the 106th largest credit union in the nation. It was established in 1936 and as of June of 2018, it had grown to 655 employees and 243,051 members at 23 locations. University Federal Credit Union's CD rates are 3X the national average, and it has an A 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
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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.
Solid bank with local support and flavor
I opened an account with this bank because I was looking to diversify the types of institutions I support - rather than the huge banks like Chase, Bank of America, etc., I wanted something like a credit union. This place is! It was extremely easy and affordable to open an account for myself. My partner and I also opened our first joint savings account there because I had such a good experience with my personal account. Anyone I've ever talked to on the phone is very courteous and knowledgeable. I'm unfamiliar with their mobile abilities since I don't use those too often - other than that, I'm happy with everything so far!
UFCU Is A Great Option If You're In Austin
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.
Worst Customer Service I've Ever Experienced With Any Financial Institution
I've been a member of UFCU for seven years, though I have had other financial institutions until recently. They have my direct deposit, my new car auto loan, my credit card business. They are the only financial institution I use right now.
This is because I left Chase and a competitor credit union and took all that business to UFCU due to UFCU's amazing rates. The previous reviewer is 100% right that wise customers avoid for profit banks like Chase and stick to credit unions. I respectfully disagree with him about UFCU's service, aside from the loan rates. 1.3% auto loans if you qualify! Wow! 6.9% credit cards! Amazing!
Unfortunately, they have terrible customer service. My 6.9% credit card is charging 9.9%. Why? I don't know. I've never been late or gone anywhere near the max. The paperwork says 6.9% and they promise they will fix it. But they don't. My mobile app is locked out... again! I walked into the Guadalupe branch on the drag and asked them to fix it. I have my driver's license and can prove who I am, but the loan officer sneered at me for asking and said I must fix this from the internet. Do they not have internet service at their branch? I guess not, because I left that branch with the problem unresolved. Finally I did get it working a week later and could make my bill payments. Next month, the website asked me what my favorite ice cream flavor is. I had never answered that before so I thought it was establishing a security question. Nope. My wife had answered the question, and so when I guessed wrong, they locked me out of my own account.
I called their customer service and answered FIVE security questions correctly before they accepted I was who I was. I don't know why they asked me the questions, because as soon as they were done they told me they wouldn't help me. I need to go to the website to fix it. They won't do it manually. The only time they set that up is when you open the account, I guess.
That wasn't the case at Chase or the other credit union, where they would fix the problem even if that meant using their internet resources in their office. UFCU's employees seem to be more interested in socializing with their coworkers, was the impression I got on multiple occasions.
This is very frustrating because I think I'm a model member of their institution. I carry a balance, have never missed a payment, and do a ton of business with their products. But when it's time for them to do their part, they just want me to fix it on the website... which is essentially delegating their customer service job to me.
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1367 |
| Year Chartered | 1936 |
| Employees | 655 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.83% |
| Return on Equity - YTD | 9.73% |
| Annual Interest Income | $42.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $2.35B$2.21B |
| Loans | Q2 2018vs Q2 2017 | $2.00B$1.89B |
| Deposits | Q2 2018vs Q2 2017 | $2.09B$1.96B |
| Equity Capital | Q2 2018vs Q2 2017 | $200.4MM$182.9MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $11.4MM$10.5MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $4.7MM$3.8MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $0$312.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.25%* | $100* | $2.5k | Savings | ||
| OTHER TIERS: 0.05% → $2.5k+ | |||||
| 0.25% | $5 | - | Teen Savings | ||
| 0.25% | $5 | - | Kidz Savings | ||
| 0.25% | $100 | - | Variable Rate IRA | ||
| 0.25%* | $100* | $2.5k | Business Savings | ||
| OTHER TIERS: 0.05% → $2.5k+ | |||||
| 0.25% | $100 | - | Premium Business Savings | ||
University Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.25%* | - | $250k | Money Market w/ Member Rewards | ||
| OTHER TIERS: 0.05% → $250k+ | |||||
| 0.05% | - | - | Money Market | ||
University Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.15% | - | $500 | Teen Checking | |
| 0.05% | $2.5k | - | Premium Checking | |
| 0.05% | $100 | - | Premium Business Checking | |
| 0.01% | $1k | - | Plus Checking |
University Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 3.25% | $100k | - | 60 Month Fixed Jumbo CD | ||
| 3.15%* | $100* | $20k | 12 Month Early Saver CD | ||
| OTHER TIERS: 0.25% → $20k+ | |||||
| 3.00% | $1k | - | 60 Month Fixed CD | ||
| 3.00% | $100k | - | 48 Month Fixed Jumbo CD | ||
| 2.90% | $100k | - | 36 Month Fixed Jumbo CD | ||
| 2.80% | $100k | - | 24 Month Fixed Jumbo CD | ||
| 2.75% | $1k | - | 48 Month Fixed CD | ||
| 2.65% | $1k | - | 36 Month Fixed CD | ||
| 2.65% | $100k | - | 24 Month Fixed Step Up Jumbo CD | ||
| 2.55% | $1k | - | 24 Month Fixed CD | ||
| 2.40% | $1k | - | 24 Month Fixed Step Up CD | ||
| 2.40% | $100k | - | 12 Month Fixed Jumbo CD | ||
| 2.15% | $1k | - | 12 Month Fixed CD | ||
| 0.50% | $100k | - | 6 Month Fixed Jumbo CD | ||
| 0.35% | $100k | - | 3 Month Fixed Jumbo CD | ||
| 0.25% | $1k | - | 6 Month Fixed CD | ||
| 0.10% | $1k | - | 3 Month Fixed CD | ||
University Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $1k | - | 60 Month Fixed IRA | |
| 2.75% | $1k | - | 48 Month Fixed IRA | |
| 2.65% | $1k | - | 36 Month Fixed IRA | |
| 2.55% | $1k | - | 24 Month Fixed IRA | |
| 2.40% | $1k | - | 24 Month Step Up Fixed IRA | |
| 2.15% | $1k | - | 12 Month Fixed IRA | |
| 0.25% | $1k | - | 6 Month Fixed IRA | |
| 0.10% | $1k | - | 3 Month Fixed IRA |
