State Department Federal Credit Union Info + Reviews
State Department Federal Credit Union is our focus here. We’ll be taking a look at this Virginia CU and going over a handful of details on it. Those will include things like their products, rates, member eligibility and a lot more.
By the time you’re finished reading, it should give you useful information to make an educated decision about working with them.
At the end, you can also add in your own personal review of this CU if you have experience with them.
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Check Your Personal Loan Rate with SoFi
*Routing #: 2560-7534-2
*Phone #: 800-296-8882
*Locations:
SDFCU Ft. McNair Branch
Building 41, Fort Lesley J. McNair
Building 41
Washington, DC 20319
SDFCU State Branch
Room B-641
2201 C St NW
Washington, DC 20521
703.706.5000 or 800.296.8882 in the US
State Department Federal Credit Union Alexandria Branch
1630 King Street
Alexandria, VA 22314
703.706.5000 or 800.296.8882 in the US
SDFCU Clarendon Branch
3100 Clarendon Blvd.
Arlington, VA 22201
703.706.5000 or 800.296.8882 in the US
SDFCU Rosslyn Branch
1801 N Lynn Street
Arlington, VA 22209
703-706-5000
They also have a handful of locations since they are a part of the shared branch system. That’s 5,000 shared branches.
A Little History on State Department Federal Credit Union
SDFCU started out around the same time that the average credit union did. Chartered in 1935, they were put together by employees of the US Department of State. I feel like the name gave that away a little bit. Through the years they’ve grown a lot and expanded their field of membership. Today, they have over 90,000 members and over $2.4 billion in assets.
You can also access your cash from SDFCU at over 30,000 surcharge-free ATMs around the country.
Do They Give Back at All?
They do give back in the form of free financial education seminars, college scholarships, and they have also helped out with financially supporting food shelves in the past.
Membership Requirements at State Department Federal Credit Union
There are a few ways to become eligible for membership at SDFCU. If you are an employee or on-site contractor of the Department of State, you’re in.
Immediate family members, even people living in the same residence, can get you in. There’s a list of associations, organizations, and company partners that could potentially get you in. Check that out here.
Members of the American Consumer Council may also be eligible to join.
Their Products
State Department Federal Credit Union just offers personal financial products (from what I could find). It does not look like they have any business offerings.
There are three main checking accounts: Basic, Advantage, and Privilege. The basic one is pretty basic as they promise. No minimum balance, free debit card, and no monthly fees.
Their Advantage checking account looks pretty solid. It earns interest, you get up to $15 reimbursement of ATM/foreign transaction fees, and there’s no penalty for falling below the $2000 balance.
If you go with the Privilege account, it pays the most interest. You get up to $25 reimbursement of ATM/foreign transaction fees and you also get free money orders.
You can choose from two main savings accounts: the Regular Savings Account and the Custom Savings Account.
There are also money markets, share certificates, and IRAs.
Loan products include new/used auto loans, loans for boats, RVs, and other vehicles. There are also personal loans, home equity loans, mortgages, and credit cards.
A Few Rates
(All rates were current at the time of publishing this)
Auto & Other Vehicle Loan Rates
| Products | Up to 36 Months APR* | 37 to 48 Months APR* | 49 to 60 Months APR* | 61 to 72 Months APR* | 73 to 84 Months ($25,000) APR* |
|---|---|---|---|---|---|
| New Auto/Boat | 1.99% – 18.00% | 2.24% – 18.00% | 2.24% – 18.00% | 2.99% – 18.00% | 4.24% – 18.00% |
| Used Auto/Boat | N/A | 2.59% – 18.00% | 2.59% – 18.00% | 3.34% – 18.00% | 4.59% – 18.00% |
Personal Loan Rates
| Products | APR* |
|---|---|
| Up to 24 Months | 5.99% – 11.24% |
| 25 to 60 Months | 6.65% – 11.90% |
| Moneyline Line-of-Credit | 11.75% – 16.75% |
| Share Secured Loan | 3.10% |
Rates effective January 1, 2022
*Annual Percentage Rate (APR) at State Department Federal Credit Union based on evaluation of applicant’s credit. Your actual APR will be within the stated range and will be disclosed at the time of disbursement. Unless otherwise stated rates subject to change monthly.
Mortgage Rates
| Products | 0 Point APR* | 1 Point APR* |
|---|---|---|
| Fixed Rate Conforming (Up to $647,200) | ||
| 30-Year | 3.125% | 2.625% |
| 20-Year | 3.000% | 2.500% |
| 15-Year | 2.625% | 2.125% |
| Fixed Rate Super Conforming** ($647,201 – $970,800) | ||
| 30-Year | 3.125% | 2.625% |
| 15-Year | 2.625% | 2.125% |
| Fixed Rate Jumbo (From $970,801 to $2,000,000) | ||
| 30-Year | 3.250% | 2.750% |
| 15-Year | 2.750% | 2.250% |
| Adjustable Rate Conforming (Up to $647,200) | ||
| 5/1 ARM | 2.750% | N/A |
| Adjustable Rate ** | ||
| 5/1 ARM(Super-Conforming $647,201 to $970,800) | 2.750% | N/A |
| 5/5 ARM (Conforming to $729,750) | 2.875% | 2.375% |
| Adjustable Rate Jumbo ($729,751 – $1,000,000) | ||
| 5/5 ARM | 3.000% | 2.500% |
*Annual Percentage Rate (APR) based on evaluation of applicant’s credit. Your actual APR will be within the stated range and will be disclosed at the time of disbursement
Unless otherwise stated rates subject to change monthly. Rates are posted before any price adjustments. Rates quoted are approx. points charged and based on an 80% LTV with a credit of 740 or higher. Rates are based on 1st Lien Purchase and Rate/Term Refinance transactions.
**Based on geographic location/product type. Due to various federal, state and local requirements, certain products may not be available in all areas.
The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and approximate cost of prepaid finance charges but does not include other closing costs or discount points.
The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
Conventional Loans at State Department Federal Credit Union with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
These mortgage rates are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon specific characteristics of your loan transaction and your credit profile up to the time of closing.
Mortgage interest rate shown is based on a ninety (90) day lock period. Under certain circumstances, a ninety (90) day rate lock may not be available.
General Disclosures: Adjustable Rate Mortgages (ARMs). The interest rate for the 3/1 ARM is in effect for the first 36 months, respectively. After 36 months the APR is subject to change. After the initial fixed rate-period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your payment. Since the index in the future is unknown, the First Adjustment Payments displayed are based on the current index plus the margin (fully indexed rate) at time of disclosure. Information displayed is accurate as of the date of the latest update and is subject to change without notice. Rates are valid up to 11:59pm EST.
State Department Federal Credit Union – Final Thoughts
SDFCU is a solid looking Virginia CU if you’re just looking for personal products. If you need business products like checking/savings or merchant services, there are other options in the same area. As far as personal products go, they are pretty extensive and should meet your needs. Their rates are competitive, especially for mortgages and personal loans. The used auto lowest rate is average compared to other CU’s out there and around the country. It’s also great to see that they give back to the community through various efforts.
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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.
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