Service of Security Federal Credit Union is ideal for those who want to open a safe, interest-bearing checking account and who live or have specified affiliations in Colorado, Texas, or Utah, or who have a connection to a military base where the credit union operates. But how do they work in general? In this article, we will discuss everything you should know about security at federal credit unions and more.
What Exactly is Security Federal Credit Union?
Service of Security Federal Credit Union offers a wide range of bank accounts. Its checking account, for example, is unique in that it has built-in identity theft protection as well as above-average interest rates. The credit union also provides different share certificate terms as well as high share certificate promotional rates. However, the other account types offer average APYs and benefits.
Pros
- The Power Protected Checking account is notable for its interest-earning potential as well as its identity theft prevention features.
- Most accounts have minimal or no minimum balance requirements.
- Members have access to about 30,000 ATMs via the CO-OP network.
Cons
- Savings, share certificates, and money market accounts can be found at better rates elsewhere.
- Membership is restricted to people who live in or have specific associations in Colorado, Texas, or Utah, or who have a link to select military locations.
- SSFCU charges a higher-than-average overdraft fee.
About Security Service Federal Savings and Loan Association
The National Credit Union Administration (NCUA) has federally chartered and federally insured the San Antonio Federal Credit Union (SSFCU), a credit union with headquarters in San Antonio, Texas (aside from its insurance subsidiary).
Security Service has more than $10.5 billion in assets and serves over 800,000 members from 66 locations in Texas, Colorado, and Utah. Security Service Credit Union is the largest credit union in San Antonio, Texas, and one of the largest in the United States. Through the CU Service Centers’ shared branching network, the credit union has access to over 5,000 credit union locations worldwide.
History
The United States Air Force Security Service Federal Credit Union was founded in 1956 at Kelly Air Force Base in San Antonio, Texas, with only eight members and $25 in deposits. The board of directors changed the credit union’s name to Security Service Federal Credit Union in 1968.
Security Service Federal Credit Union was established as a non-profit, member-owned credit cooperative to support the members and families of the United States Air Force Security Service Command. Since then, the credit union’s charter has been expanded to include over 2,600 different ways to qualify for membership. Security Service, headquartered in San Antonio, Texas, provides a comprehensive range of traditional financial products and services.
Company Headquarters
Service of Security Federal Credit Union established its original corporate headquarters on Highway 90 in San Antonio. In 2001, the headquarters were relocated to a new 128,000-square-foot facility on La Cantera Parkway in San Antonio. Security Service relocated its corporate offices to a new site at 15000 IH-10 West in San Antonio, which accommodates more than 700 employees and includes operations and amenities facilities, due to continuing growth and expansion.
Combinations and Acquisitions
Mergers and acquisitions initiated by other credit unions and the National Credit Union Administration (NCUA) have aided in the expansion of the Security Service Federal Credit Union field of membership. These mergers also paved the way for the credit union to enter the Colorado and Utah markets. In 1980, Security Service relocated to Colorado Springs, Colorado, following a merger with the Fort Carson Federal Credit Union.
The NCUA authorized the credit union’s bid to take the assets of Salt Lake City’s Beehive Credit Union in December 2010, giving it its first presence in Salt Lake City, Provo, Riverton, Sandy, South Jordan, and St. George, Utah. Security Service has merged and purchased 21 credit unions in Texas, Colorado, and Utah since 1974.
Membership
Service of Security Federal Credit Union has over 2,600 different ways to qualify for membership. Individuals who live, work, worship, attend school, volunteer, or own a business in Texas, Colorado, or Utah may qualify for membership in numerous fields. Individuals from other states may be eligible for membership through certified consumer councils in Texas and Colorado. A family or household member of an existing member may also be eligible for membership.
Goods and Services
Security Service Federal Credit Union provides its members with financial services, support, and products. Online and mobile banking, checking and savings accounts, consumer loans, mortgage loans, credit cards, investments, insurance, and title services are all available. Other options include shared banking and ATMs located throughout the country.
Mutual Security Credit Union, a federal credit union, has been serving members since 1954. As a non-profit organization with over 29,000 members, it serves the community and other employer groups.
Mutual Security Credit Union, Inc. is a cooperative financial institution. The Union offers loans, investments, savings, credit and debit cards, online banking, and other financial services. Mutual Security Credit Union serves the residents of Connecticut.
How Security Service Federal Credit Union works
Service of Security Federal Credit Union has 67 locations throughout Colorado, Texas, and Utah. It is also a part of the CO-OP shared branch network, which has 5,000 shared branches across the United States. You can’t open an account at a shared branch, but you can get help there.
The exact hours of operation vary by location, but most Security Service FCU branches are open Monday through Friday and part of Saturday. The member contact center is open from 7 a.m. to 10 p.m. CT Monday through Friday and from 9 a.m. to 6 p.m. CT on Saturday. Toll-free numbers are available from the United States, Canada, the United Kingdom, Germany, Japan, and South Korea.
You can use over 30,000 ATMs in the Security Service FCU, CO-OP, and Stripes networks for free.
The Security Service FCU mobile app has a rating of 2.8 stars in the Apple App Store and 3.9 stars in the Google Play Store.
The NCUA insures your deposits up to $250,000 for single accounts and $500,000 for joint accounts. This means that your funds are secure even if the credit union closes.
How to Become a Member of Security Service Federal Credit Union
If you meet one of the following criteria, you are eligible to join Security Service Federal Credit Union:
- In Colorado, Texas, or Utah, you must live, work, study, worship, volunteer, or run a business.
- You must be a military member or a Department of Defense employee at one of the following bases in Colorado, Texas, or Utah.
- You must have a family member or household member who is already a member.
When you join, you must also open a Security Service Federal Credit Union Basic Savings Account.
Security Service Federal Credit Union’s dependability and BBB Rating
Service of Security Federal Credit Union has no public controversies.
The Better Business Bureau assesses consumer trust, and Security Service FCU receives an A+ rating from the BBB.
A good BBB rating does not, however, guarantee that you will have a positive relationship with a company. You could ask friends and family about their experiences with Security Service FCU or read online customer reviews.
How Security Service Federal Credit Union Compares
The type of account you want may determine which of the three institutions you choose. Navy Federal offers the highest savings account rates, but Security Service offers the most competitive certificate rates. USAA offers a cash-back checking account in addition to low interest rates.
Navy Federal provides customer service 24 hours a day, seven days a week, whereas the other two institutions have limited hours.
The best fit may also depend on whether you want access to physical branches. Choose a bank with a branch near your home if you want to bank in person.
What exactly is “Phishing”?
Fraud (FISH.ing) pp. Phishing is a high-tech scam that uses spam or pop-up messages to trick you into exposing sensitive information such as credit card numbers, bank account information, Social Security numbers, passwords, and other personal information.
Hackers who use email communications to pretend to be well-known businesses in order to obtain users’ passwords or credit card information use the term “phishing.” People were sent to Web pages that looked remarkably identical to the companies’ sites, including those of Bank of America, Best Buy, and eBay.
Who Owns Security Federal Credit Union?
Service of Security Federal Credit Union was established as a non-profit, member-owned credit cooperative to meet the financial requirements of members and families of the United States Air Force Security Service Command. Security Service, headquartered in San Antonio, Texas, provides a comprehensive range of traditional financial products and services.
Is Security Federal Credit Union a Local Bank?
Flint Buick Employees Federal Credit Union was the Credit Union’s initial name, and UAW Local 599 assisted in its formation. They supplied office space in the basement of UAW 599, around the size of a large coat closet. By the conclusion of the first year, the Credit Union had 267 members, $3,915, loans of $3,812, and total cash on deposit in the bank of $23.18.
Is Security Federal Credit Union a Bank in U.S.?
Service of Security Federal Credit Union, which has locations in Colorado, Texas, and Utah, was created in 1956 to serve members of the United States Air Force Security Service Command. Because the credit union is a member of shared branching, you can bank for free at thousands of other branches.
What is the Difference Between Banka Bank Credit Union?
The fundamental distinction between the two is that banks are typically for-profit companies, whereas credit unions are not-for-profit organizations that distribute profits to their members. Credit unions also typically serve a particular region or community.
What is a Security Federal Credit Union, and How Does it Work?
Service of Security Federal Credit Union provides its members with financial services, support, and products. Online and mobile banking, checking and savings accounts, consumer loans, mortgage loans, credit cards, investments, insurance, and title services are all available.
Conclusion
Southern Security Federal Credit Union is a non-profit financial cooperative whose aim is to provide financial assistance to its members. Each member’s demands are distinct, whether it’s through giving savings alternatives, being a lending source, or simply providing convenience.
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