Andrews Federal Credit Union Review: Black-Led, Low Fees

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Andrews Federal Credit Union: Overall Credit Union Rating

Andrews Federal Credit Union: Pros and Cons

This is the savings account you’re required to open when you become an Andrews FCU member. You only need $5 to open the account, and there are no monthly service fees. But if you want to earn a high interest rate, you’re better off opening an online high-yield savings account.

This is a good checking account if you meet one of the requirements to waive the $10 monthly service fee.  You also have two options for overdraft protection: Link to your savings account so money transfers into checking when you overdraw, or tap into an overdraft line of credit. You may also receive your direct deposits one day early, which is especially useful if you worry about paying bills on time.

If you know you want to bank with a brick-and-mortar institution, the Andrews FCU Share Certificate is a good choice. It pays higher rates than many in-person banks. 

The Andrews FCU Premium Money Market Account pays solid rates compared to the average money market account.

The account comes with one free box of checks per year. But if you want a money market account with a debit card, you can find one at other institutions.

How Andrews Federal Credit Union Works

Andrews Federal Credit Union is designated as a minority-led credit union (MDI) by the NCUA. The NCUA defines an MDI as a credit union in which “more than 50% of its current members are minority individuals, more than 50% of its current and eligible potential members are minority individuals, and more than 50% of its current board members are minority individuals.”

Andrews Federal Credit Union has branches in Maryland, New Jersey, Virginia, Washington, DC, and Washington. There are also branches in Belgium, Germany, and the Netherlands.

Andrews is part of the CO-OP Shared Branch network. This means you can use 30,000 ATMs in the US for free, and walk into 5,000 shared branches. You can’t open an account at a shared branch, but you can receive assistance.

The Andrews FCU mobile app has 4.5 out of 5 stars in the Apple store, and 4.4 out of 5 stars in the Google Play store.

To contact customer support, call Monday through Friday, 7 a.m. to 11 p.m. ET. Or call weekends and holidays from 9 a.m. to 5 p.m. ET.

Your deposits are federally insured by the NCUA for up to $250,000, or $500,000 for joint accounts.

How to Join Andrews Federal Credit Union 

Like many credit unions, you must meet certain criteria to become a member of Andrews FCU. You can meet any one of the following requirements:

• Live, work, study, or worship in Washington, DC
• Work for or be a member of one of Andrews’ Employer Groups (Call Andrews to check whether your job or membership qualifies)
• Are a member of the American Consumer Council, or want to join
• Are an immediate family member or household member of someone who is already an Andrews FCU member
• Are an active military member or veteran assigned to Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; or a spouse, dependent, or surviving dependent of someone who served
• Are a civilian personnel who works at Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; or a dependent or surviving dependent of someone who works there
• Are a qualified active military member or civilian personal with the US Department of Defense; or a dependent or surviving dependent
• Otherwise qualify through military affiliations

The Role of Black-led Financial Institutions

There is a history of racial prejudice in banking and lending that has significantly impacted Black Americans and contributed to a racial wealth gap in the US. Black-led financial institutions serve an integral role in providing services and products to Black communities.

Andrews Federal Credit Union hosts webinars about financial education, covering topics like home loans and student loans. It also has a college scholarship program and summer camp awards program for members. 

Is Andrews FCU Trustworthy?

The Better Business Bureau gives Andrews an A+ rating. The BBB determines trustworthiness grades by evaluating responses to customer complaints, honesty in advertising, and transparency about business practices.

Andrews does not have any public scandals.

A good BBB grade and clear history don’t guarantee you’ll have a smooth relationship with a company, though. You may want to read online reviews or talk to family and friends about their experiences before joining.

Andrews FCU review vs. Democracy FCU review

Andrews FCU and Democracy FCU are both credit unions, so your choice could come down to which one you qualify to join. Or it could depend on which has a location closest to you.

Unlike Democracy, Andrews lets you receive paychecks one day early.

But Democracy has Kasasa account options. Kasasa is a financial services company that partners with small banks and credit unions to offer competitive accounts. So you might prefer Democracy if you’d like a Kasasa high-yield savings, high-yield checking, or cash-back checking account.

Andrews FCU review vs. Industrial Bank review

Industrial is a bank, not a credit union, so you don’t have to become a member to bank there. If you don’t qualify to join Andrews FCU, Industrial is a good choice.

You may prefer Andrews if you want early direct deposit. Industrial has higher minimum opening deposits than Andrews, and you’ll pay a monthly fee on some accounts unless you qualify to waive them.

But Industrial has Kasasa accounts, so you could earn higher rates or cash back with Industrial.

Andrews Federal Credit Union: Frequently Asked Questions