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Security First Credit Union: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 4 |
| Share certificate | 4.25 |
| Trustworthiness | 4.5 |
| Total | 4 |
Security First Credit Union: Pros and Cons
| Pros | Cons |
|
|
Review
The doesn't charge any monthly fees, but you'll earn a low interest rate. To earn a significantly better rate, you may want to open one of the best high-yield savings accounts elsewhere.
Review
The is an overall solid checking account. It doesn't charge monthly service fees, and you will earn interest on balances of $10,000 or more.
Review
Share Certificates are probably Security First's strongest products. You have a variety of term lengths to choose from, you'll earn high interest rates, and most of the terms only require $500.
About Security First Credit Union
Security First Credit Union is a Hispanic American-led institution with nine branches in the following Texas cities:
- Brownsville
- Edinburg
- Harlingen
- McAllen
- Mission
- Pharr
- San Benito
- Weslaco
You can use Rio Grande Valley Credit Union or NAFT Federal Credit Union ATMs for free, and machines at Stripes Stores.
To contact customer support, call Monday through Friday from 8 a.m. to 6:30 p.m., or Saturday from 9 a.m. to 2 p.m. Branch lobbies and drive-thrus are also open Monday through Friday and part of the day Saturday.
The Security First Credit Union mobile app has 4.8 out of 5 stars in the Apple store and 4.7 out of 5 stars in the Google Play store.
Security First Credit Union is federally insured by the NCUA. Your deposits are insured for up to $250,000 per account, or $500,000 for joint accounts.
How to Join Security First Credit Union
To become a member, you must live, work, worship, or study in one of the following Rio Grande Valley counties: Cameron, Hidalgo, Starr, or Willacy. You'll then need to open a savings account with $5.
The Role of Hispanic American-led Institutions
Many Hispanic American banks and credit unions provide services in both English and Spanish. Some, including Security First Credit Union, let immigrants and noncitizens open accounts. Instead of showing a Social Security card and driver's license, you can use an ITIN and permanent resident card, foreign passport, or Matricular Consular.
There is a history of racial prejudice in banking and lending, specifically among Hispanic Americans, so working with a Hispanic American institution can help eliminate unfair bias.
Many are also involved in their local communities. For example, Security First awards five scholarships of $1,000 each year to students in the Rio Grande Valley.
Is Security First Credit Union Trustworthy?
Security First Credit Union does not have any public controversies.
The Better Business Bureau gives Security First an NR ("No Rating"). The highest possible BBB grade is an A+, and the website states that Security First has an NR rating because it doesn't have enough information to review the company.
A good BBB score doesn't guarantee that you will have a smooth experience with a credit union, though. You may want to speak with friends and family who have used Security First, or read customer reviews online.
Security First Credit Union FAQs
Where are Security First Credit Union locations?
Security First Credit Union has branches in eight cities in Texas (Brownsville, Edinburg, Harlingen, McAllen, Mission, Pharr, San Benito, Weslaco).
What are the current rates for Security First Credit Union Share Certificates?
Security First Credit Union Share Certificates pay APY.
Does Security First Credit Union have Zelle?
Yes, Zelle is available through Security First Credit Union's online and mobile banking. In order to get Zelle, you must log in to online banking through the bank's website and enroll in Bill Pay. Once you've enrolled, you'll be to use Zelle through the mobile app or online.
Methodology: How We Reviewed Security First Credit Union
For our Security First Credit Union review, we used our bank account methodology to rate each bank account.
At Personal Finance Insider, we rate bank accounts on a scale from zero to five stars and review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options. We'll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.
How Security First Credit Union Compares
Security First Credit Union vs. Lone Star National Bank
Lone Star National Bank may be a more convenient option if you value in-person banking. It has 36 branches in 12 cities. Security First Credit Union only has nine locations in eight cities.
However, Security First makes it possible for immigrants and non-US citizens without Social Security numbers to open accounts.
Security First Credit Union vs. Rio Bank
Rio Bank is another Hispanic American-led financial institution in Texas. If you're looking for an institution that has a larger branch presence, you may prefer Rio Bank over Security First Credit Union. Rio Bank has 15 locations in 11 cities, while Security First Credit Union has nine branches in eight cities.
If you would rather open an account without monthly service fees, Security First is the way to go. At Rio Bank, you'll need to meet certain minimum balance requirements to waive fees on savings and checking accounts.
from All Content from Business Insider https://www.businessinsider.com/personal-finance/security-first-credit-union-review
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