Andrews Federal Credit Union Review: Black-Owned, Low Fees
- Andrews Federal Credit Union is a Black-owned institution in DC, MD, NJ, VA, and WA.
- It’s part of the CO-OP Shared Branch network, so there are 5,000 shared branches and 30,000 free ATMs.
- Andrews has low minimum deposits and no monthly service fees on many accounts.
- See Insider’s picks for the best checking accounts »
Should you use Andrews Federal Credit Union?
Pros
- $5 minimum opening deposit
- No monthly service fees
Cons
- Low APY
- Dividends only compounded quarterly
- Black-owned credit union with branches in DC, MD, NJ, VA, and WA; branches in Belgium, Germany, and the Netherlands
- 5,000 shared branches in the CO-OP Shared Branch network
- Join Andrews FCU by being an employee/member by one of the credit union’s Employer Groups; live, work, study, or worship in DC; are a member of the American Consumer Council; are an immediate family or household member of an Andrews FCU member; are an active military member or veteran, or a family member of someone who served at Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; are a civilian personnel of Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst, or a family member; are a qualifying military member or civilian personnel of the Department of Defense, or a family member; otherwise qualify based on military affiliation
- You must open a Base Share Savings Account to become an Andrews FCU member
- Interest compounded and paid quarterly
- Federally insured by the NCUA
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.
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