Securityplus Federal Credit Union Review: Minority-led Credit Union With a High-yield Checking Account
Read our Securityplus Federal Credit Union review to see if a minority-led institution in Maryland has the right bank accounts and services for you.
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Securityplus Federal Credit Union: Overall Credit Union Rating
| Feature | Insider rating (out of 5) |
| Savings | 4.25 |
| Checking | 4.75 |
| Share certificate | 4.25 |
| Money market account | 3.75 |
| Trustworthiness | 5 |
| Total | 4.5 |
Securityplus Federal Credit Union: Pros and Cons
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Securityplus Federal Credit Union Share Savings Account - Product Name Only
The
Securityplus Federal Credit Union Xceptional Checking Account - Product Name Only
Securityplus also offers a Revive Checking Account, which is available to people who might not qualify for a checking account at other institutions.
Securityplus Federal Credit Union Share Certificate - Product Name Only
The
Securityplus Federal Credit Union Money Market Account - Product Name Only
The
How Securityplus Federal Credit Union Works
Securityplus Federal Credit Union is a minority-led credit union in Maryland. There are two branches in Baltimore and one in Owings Mills. There is an ATM at each location.
Securityplus is part of a shared branch network with 6,400 locations around the US. Although you can't open an account at a shared branch, you can receive assistance.
The credit union has 55,000 free ATMs in the Allpoint network.
Call customer support Monday through Thursday from 9 a.m. to 5 p.m. ET; Friday from 9 a.m. to 6 p.m. ET; or Saturday from 9 a.m. to 1 p.m. ET.
The Securityplus mobile app has 4.7 out of 5 stars in the Google Play store and 4.8 out of 5 stars in both the Apple store.
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts.
How to join Securityplus Federal Credit Union
Securityplus is a credit union, not a bank — so only certain people can become members. You may join if you meet any of the following requirements:
- Live, work, study, or worship in Baltimore
- Work for or are retired from the Social Security Administration (SSA) or Centers for Medicare & Medicaid Services (CMS)
- Work for one of Securityplus' select employee groups (call to ask whether your employer is on this list)
- Have an immediate family member who is already a Securityplus member
You also must open a
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. To learn more the history of these banks, read our Black-owned banks and credit unions guide.
Securityplus serves residents in Baltimore. According to the US Census, more than 66% of the city population is Black.
Securityplus also focuses on helping its community through efforts like the HopeFul Market, a free farmers market for unhoused people in Baltimore.
Is Securityplus Federal Credit Union Trustworthy?
The Better Business Bureau gives Securityplus an A+ rating. A strong BBB grade indicates a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices.
A good BBB score doesn't guarantee you'll have a smooth relationship with a company, though. You may still want to read online reviews or ask friends and family about their experiences with Securityplus.
Securityplus Federal Credit Union Review vs. Municipal Employees Credit Union of Baltimore Review
Both credit unions offer high-yield checking accounts. But the Municipal Employees Credit Union RealSaver Account pays a much higher rate than
If you want to open a share certificate, Municipal Employees CU pays better rates on most terms.
Securityplus Federal Credit Union Review vs. The Harbor Bank of Maryland Review
The Harbor Bank of Maryland is a bank, not a credit union. If you don't qualify to join Securityplus, The Harbor Bank of Maryland is the clear choice.
But Securityplus pays higher rates on share certificates and its checking account, so it's a strong choice if you do qualify to become a member.
Securityplus Federal Credit Union: Frequently Asked Questions
What are the rates for Securityplus Federal Credit Union certificates?
Securityplus offers share certificates paying
Is Securityplus Federal Credit Union safe?
Securityplus is federally insured by the NCUA. Up to $250,000 per depositor is safe in a bank account. If a credit union is shut down, the NCUA protects consumers. The agency will move your insured deposits to a bank account at another financial institution or send you a check.