Question 1

What is Money One Federal Credit Union?

Accepted Answer

Money One Federal Credit Union is a federally chartered, member-owned financial cooperative serving the greater Prince George's County area in Maryland. With over $106 million in total assets and approximately 7,100 members, Money One specializes in providing personalized financial services to individuals and families in the Washington metropolitan area.

The credit union operates with a multiple common bond membership structure, primarily serving those in finance, insurance, real estate, and trade sectors. As a not-for-profit institution, Money One returns excess profits to members through competitive rates, lower fees, and enhanced services.

Question 2

When was Money One Federal Credit Union founded?

Accepted Answer

Money One Federal Credit Union was founded in 1951 during a period of post-war economic expansion and community growth. The credit union was established by a group of forward-thinking individuals who recognized the need for accessible and affordable financial products and services for working families in their community.

Originally formed to serve a specific group of employees or organizations, Money One has evolved over its seven decades of operation to expand its membership base while maintaining its cooperative principles and commitment to personalized member service.

Question 3

Where is Money One Federal Credit Union headquartered?

Accepted Answer

Money One Federal Credit Union is headquartered in Largo, Maryland, with its main office located at 9800 Technology Way, Largo, MD 20774. The credit union's mailing address is PO Box 6398, Largo, MD 20792.

The Largo location serves as both the administrative headquarters and the primary branch facility for the credit union.

Question 4

Where does Money One Federal Credit Union operate?

Accepted Answer

Money One Federal Credit Union primarily operates in Prince George's County, Maryland, with a focus on the Largo and Upper Marlboro areas. The credit union serves members residing in specific zip codes throughout the region, including communities in and around the Washington metropolitan area.

Membership eligibility extends to individuals who live, work, worship, or volunteer in designated zip codes including: 20607, 20608, 20613, 20623, 20705, 20706, 20707, 20708, 20710, 20712, 20715, 20716, 20720, 20721, 20722, 20735, 20737, 20740, 20743, 20744, 20745, 20746, 20747, 20748, 20762, 20769, 20770, 20772, 20774, 20781, 20782, 20783, 20784, and 20785. Members can also join if they are employed by nearly 100 approved partner employers, churches, and organizations, or through family membership if an immediate family member is already a Money One member.

Question 5

What services does Money One Federal Credit Union offer?

Accepted Answer

Money One Federal Credit Union provides a comprehensive range of financial products and services designed to meet member needs throughout their financial journey:

Deposit Accounts: Share savings accounts, checking accounts (including Kasasa free checking options), club accounts, and savings certificates with competitive dividend rates.

Lending Services: Auto loans for new and used vehicles, home mortgages, home equity lines of credit (HELOC), personal loans, and Fresh Start loans for credit rebuilding. The credit union offers flexible lending with individualized attention, including financing above book value when warranted.

Business Banking: Business accounts and lending services for small businesses and organizations within the membership field.

Digital Banking: Mobile banking app and online banking platform offering 24/7 account access, mobile check deposit, bill pay, transfers, and account management tools.

Additional Services: HomeAdvantage program for home buying and selling with connections to local real estate agents, insurance products, retirement planning, and access to free financial advisors. The credit union also provides free community events for members.

Question 6

What makes Money One Federal Credit Union unique?

Accepted Answer

Money One Federal Credit Union distinguishes itself through individualized lending decisions that go beyond standard underwriting formulas. The credit union is willing to finance vehicles above their paper value when they recognize the true worth, demonstrating a commitment to understanding members' unique circumstances rather than relying solely on automated decisions.

The institution emphasizes its member-owned cooperative structure with an unpaid, volunteer board of directors who identify as members first and decision-makers second. This governance model ensures that all decisions prioritize member benefit over profit maximization.

Community connection is central to Money One's identity. Most employees live in the same communities as members, attend the same churches, and shop at the same stores, creating a neighborly relationship that extends beyond typical banking transactions. This local focus enables staff to provide advice and support that reflects genuine understanding of the community's needs.

Money One offers the Gifts for Easter Seals membership pathway, allowing individuals to join the credit union by making a charitable donation, combining financial access with community support.

Question 7

What type of financial institution is Money One Federal Credit Union?

Accepted Answer

Money One Federal Credit Union is a federal credit union chartered under federal law and regulated by the National Credit Union Administration (NCUA). As a federally chartered institution (Charter Number 7264), it operates under federal credit union regulations and benefits from federal share insurance through the NCUA.

The credit union is structured as a not-for-profit financial cooperative where members are also owners. Each member has equal voting rights (one member, one vote) regardless of their account balance, embodying the democratic principles of the cooperative movement. The volunteer board of directors is elected by and from the membership.

Money One operates with a multiple common bond membership structure, primarily serving those connected to finance, insurance, real estate, and trade industries, while also extending membership to individuals living in designated geographic areas and through associational relationships. This structure allows the credit union to serve a defined community of interest while maintaining its cooperative character and member-focused mission.

Money One Federal Credit Union

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About Money One Federal Credit Union in the United States