Question 1

What is Five Star Federal Credit Union (Five Star FCU)?

Accepted Answer

Five Star Federal Credit Union (Five Star FCU), formerly known as Five Star of Maryland Federal Credit Union, is a member-owned, not-for-profit financial cooperative based in Baltimore, Maryland. With approximately $61.7 million in assets and serving over 5,700 members, the credit union provides a full range of personal banking services with a focus on premier customer service.

The credit union has earned a top 5-star rating from Bauer Financial, an independent firm that ranks financial institutions nationwide for asset quality and capital adequacy. Five Star FCU maintains a strong commitment to the "People Helping People" philosophy that defines the credit union movement.

Question 2

When was Five Star Federal Credit Union (Five Star FCU) founded?

Accepted Answer

Five Star Federal Credit Union was founded in 1969 as Saint Agnes Employees Federal Credit Union. The credit union was established by employees of Saint Agnes Hospital in Baltimore, Maryland, who sought to create a financial cooperative to serve their fellow hospital workers.

Over the decades, the credit union has evolved from serving a single employer group to expanding its field of membership to include employees of UM Baltimore Washington Medical Center in Glen Burnie, as well as numerous other select employer groups and businesses throughout the Baltimore metropolitan area.

Question 3

Where is Five Star Federal Credit Union (Five Star FCU) headquartered?

Accepted Answer

Five Star Federal Credit Union is headquartered at 716 Maiden Choice Lane, Suite 101, in Baltimore, Maryland. The credit union maintains branch locations in both Baltimore and Glen Burnie, Maryland.

Question 4

Where does Five Star Federal Credit Union (Five Star FCU) operate?

Accepted Answer

Five Star FCU primarily operates in the Baltimore metropolitan area, including Baltimore City and Anne Arundel County, Maryland. The credit union serves members through its Baltimore headquarters location and a branch office at UM Baltimore Washington Medical Center in Glen Burnie.

Membership is field-of-membership based, with eligibility requirements tied to employment, association, or family relationships. Primary membership groups include employees, physicians, volunteers, and retirees of Ascension Saint Agnes Hospital and UM Baltimore Washington Medical Center, along with employees of over 100 select employer groups in the region.

Question 5

What services does Five Star Federal Credit Union (Five Star FCU) offer?

Accepted Answer

Five Star FCU offers a comprehensive suite of financial products and services, including:

Deposit Accounts: Share savings accounts (with a $5 minimum opening deposit), checking accounts with mobile check deposit capability, certificates of deposit, and money market accounts.

Lending Products: New and used auto loans, personal loans, lines of credit, home equity loans, and Visa credit cards with competitive rates and rewards programs through CU Rewards.

Digital Banking Services: CU Online banking platform (powered by It's Me 247 technology), mobile banking with remote deposit capture, online account management, and access to the surcharge-free Allpoint ATM network with thousands of locations nationwide.

Additional Services: Visa debit cards, credit cards with rewards programs, pre-approved loan programs, and financial newsletters to keep members informed about services and promotions.

Question 6

What makes Five Star Federal Credit Union (Five Star FCU) unique?

Accepted Answer

Five Star FCU distinguishes itself through several key characteristics:

Healthcare Community Focus: With roots dating back to Saint Agnes Hospital in 1969, the credit union maintains strong connections to the healthcare community, serving employees and medical professionals at multiple hospital systems.

Superior Financial Rating: The credit union has earned the highest 5-star rating from Bauer Financial for asset quality and capital adequacy, demonstrating strong financial stability and management.

Recent Growth Through Merger: In November 2024, Baltimore Washington Federal Credit Union merged with Five Star of Maryland FCU, expanding the credit union's reach and adding the Glen Burnie location at UM Baltimore Washington Medical Center.

Technology Investment: The credit union converted to the CU*BASE platform in May 2024, modernizing its core banking system to enhance digital banking capabilities and member service delivery.

Not-for-Profit Advantage: As a credit union cooperative, Five Star FCU offers lower loan rates, fewer fees, and competitive savings rates compared to traditional banks, with earnings returned to members rather than paid to outside shareholders.

Question 7

What type of financial institution is Five Star Federal Credit Union (Five Star FCU)?

Accepted Answer

Five Star Federal Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federally insured credit union, member deposits are protected up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government.

The credit union operates under a multiple common bond charter, which means membership is limited to individuals who work for, are associated with, or are family members of current members within approved select employee groups. This structure ensures the credit union maintains its community focus while serving defined membership groups.

As a cooperative financial institution, each member is an owner with equal voting rights regardless of account balance, embodying the democratic principle of "one member, one vote" in credit union governance.

Five Star Federal Credit Union (Five Star FCU)

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About Five Star Federal Credit Union (Five Star FCU) in the United States