Whether you’re an overseas American, live or work in the US, you may be interested in the State Department Federal Credit Union (SDDFCU). Originally established in 1935 to provide banking services for State Department employees who were overseas, SDDFCU now has more than 88,000 members worldwide. It is a full-service financial institution that provides members with a variety of products to help them achieve their financial goals.
What SDDFCU Offers to its members?
SDDFCU offers a range of products to its members, including:
Personal Financial Management Software: SDDFCU also offers its members the opportunity to download selected transactions to personal financial management software. In addition, they can make payments to third parties within the US through their Bill Payer service. They can also make payments from other bank accounts, or use their SDdFCU debit card to make purchases.
Pay higher Deposit rates than most Banks: Unlike most banks, SDDFCU does not charge fees for services. In fact, they have no annual fees for credit cards. They also pay higher deposit rates than most banks. For the most part, SDDFCU is a non-profit organization that reinvests the profits in member-owners. In addition, SDFCU is regulated by the National Credit Union Administration.
Make Transfer through Website: Using the SDDFCU website, members can view their accounts online, and make transfers between share accounts, consumer loans, and Home Equity lines of credit. They can also make transfers using a cable connection or internet instruction. They can also make transfers to other accounts with the SDFCU debit card or other non-SDFCU bank accounts.
Mortgage Service: SDFCU offers other services to its members, including mortgages to purchase property in the US. They also offer debit cards, which can be used anywhere that accepts VISA. They also offer loan advances by check, which will be mailed to your address of record on the next business day.
Does not Charge Transaction fees: Unlike banks, SDFCU does not charge fees to make transactions or for ATM use. In addition, SDFCU does not charge for paper statements. Members can also receive mailed statements for a minimal fee. They can also receive email notifications about account activity and other important information.
Travel Benefits of SDDFCU
SDDFCU credit cards don’t charge anything for foreign transactions, and you can use our free foreign currency exchange service and access nearly 30,000 ATMs.
Whether you’re an American in the States or abroad, SDDFCU has a credit card to suit your needs. Unlike most credit card companies, they offer competitive interest rates and a rewards program. SDFCU also makes it easy to manage your money. For example, you can set up automatic payments to your loans, or arrange for direct deposit of your Social Security benefits. Likewise, you can do the same with your bank account, or use your SDFCU credit card to make a quick cash deposit at the ATM.
24/7 Account Access
Your money can be managed and moved easily and securely through online banking. You can check your records, set up programmed installments, check your FICO rating and set up account alarms. With SDDFCU’s 24-hour banking service options, you can access and manage your accounts from any location. Options for digital banking include Text Banking, our Phone Banking services, and the Mobile Banking App.
Mobile Banking: Online banking makes it simple and safe to move and manage your money. You can check your records, set up automatic payments, check your credit score, and set up account alarms.
Services
- You can schedule recurring transfers and transfer money between your accounts.
- Free bill payment
- Use an outside account to pay off a loan.
- Activate reward programs for debit cards.
- Schedule an appointment for later at a branch location.
- Access to the Virtual Assistant for transactional assistance
Phone Banking: To manage chosen exchanges or acquire account balance data through a mechanized telephone administration, call 703-706-5172.
Services
- Check the balances in your accounts.
- Transfer funds among your accounts.
- Check to see which checks have cleared.
- Request the cashing of your checks.
- Ask about a previous loan.
- Check your interest rates and dividends.
Text Banking: You can access your account via text message on your mobile device using Text Banking. It is a quick and simple way to look up recent account history or manage account balances.
Services
- Move money into the primary account.
- The main balance
- Five recent transactions
- Useful keywords
- Deactivate service
SDDFCU Credit Cards
SDDFCU has the ideal credit card for your needs. Select one of the three credit cards below with no annual fees.
Premium Credit Card: A signature VISA credit card with cash-back rewards and a low APR is the Premium Cash Back+ Credit Card. The minimum credit limit is $5,000.
Features
- Low cost
- $200 welcome bonus if you spend $3,000 within the first 90 days.
- On eligible purchases, receive 2% cash back.
- A grace period of 25 days for all purchases
- Contactless chip innovation
Platinum Credit Card: Our lowest-rate credit card, the SDDFCUVisa Platinum Credit Card, lets you earn points and avoid fees. A credit line can be as low as $500 or as high as $100,000.
Features
- Low cost
- Reward yourself with Flexpoints, one point for every $1 spent.
- A grace period of 25 days for all purchases
- Contactless chip innovation
Savings Secured Platinum Rewards Credit Card: The money in your savings account serves as security for the Savings (Share) Secured Platinum Rewards Credit Card. While enjoying the advantages and convenience of a credit card, this card is an excellent choice for building or improving your credit. The lowest credit limit is $250.
Features
- Low and competitive rate
- If you use the card responsibly, you may be upgraded to a Platinum Rewards Credit Card automatically.
- $3 fee to cash out of an ATM (there is no fee at the teller).
- Reward yourself with Flexpoints, one point for every $1 spent.
- A grace period of 25 days for all purchases
- Contactless chip innovation
FAQs Related to SDDFCU Membership
- Why would you want to join a credit union rather than a conventional bank?
The goal of traditional banking institutions is to generate a substantial annual profit for their stockholders by making money for them. Each SDFCU part is a proprietor, so any benefit made by the credit association is gotten back to its individuals as lower loan costs, lower charges, and higher saving store rates.
- Can individuals who are members of other credit unions join SDFCU?
If they meet the eligibility requirements, they can join multiple Credit Unions.
- Can I apply online to SDFCU?
If you don’t have enough time to finish your application in a single session, you can also start it, save it, and finish it later. An applicant has up to 14 days to submit the required identification, birth, and residency documentation to complete their SDFCU membership application. The status of your application can be viewed online after it has been submitted.
- Is it possible to join and simultaneously obtain a loan online?
Yes, you can join and apply online for deposit products or loans from the company! Start filling out an application by going to the website you want to join.
Conclusion
State Department Federal Credit Union Credit is a nonprofit provider of safe and dependable financial services. SDFCU is a member-owned financial institution that only answers to its members and its top priority are their financial well-being. The members of SDFCU are spread out all over the world.
While it’s not the biggest bank in town, SDFCU has a slew of perks and features designed to meet the needs of its members. This includes a credit card that doesn’t require a credit check, along with a rewards program that’s appropriate for applicants with limited credit. There’s also a mobile app that’s well worth the download. Lastly, SDFCU has been around for a while, so you know they know what they’re doing.
