Our Verdict
Do you reside in New Hampshire, Massachusetts, or North Dakota and want a popular credit union with all in one services? Choose Service Credit Union. You can enjoy numerous services which the credit union classified into three. They are: banking, loans, and investments. Another thing, good news! Are you a member of US military personnel in Germany? Note that this credit union has a specialized 14 branches to attend to your financial needs. Not only that, you can also access another 37 branches in the US. You may have to worry about Service Credit Union limited availability. Consider other banks or credit unions if you are not a member of the military personnel stationed in Germany, or not a resident of Massachusetts, New Dakota, or New Hampshire.
Corporate Headquarters
Portsmouth, New Hampshire,
United States
Phone Number: 800.936.7730
Pros
- Offers variety of products
- Considers special offer for military personnel
- Has numerous branches
- Offers free checking and savings account
- Doesn’t necessitate living in America
Cons
- Has limited availability
- Has Membership limitation
- Requires $2500 deposit for investment account
Who This Product Is Best For
Take Service Credit Union as your option if you are a customer who:
- Wants to bank with one of the best credit unions in the US.
- Resides in New Hampshire, Massachusetts or New Dakota.
- Prefers fee-free savings and checking accounts.
- Prioritizes credit unions with numerous services
- Belongs or has connections to US military bases in Germany.
Who This Product Isn't Right For
Forget Service Credit Union if you are a customer who:
- Doesn’t live in New Hampshire, Massachusetts or New Dakota.
- Prefers a credit union with wider availability.
- Doesn’t belong to members of US military bases in Germany.
What This Product Offers
Banking services: Bank with Service Credit Union if you are looking for a safer place for your money. You can choose from quite a number of accounts to save in. Like checking accounts, savings accounts, business accounts, and International service.
Lending services: Do you need financial assistance and thereby looking for a credit union to get a loan from? Service Credit Union can still be your best choice. The credit union offers you different kinds of loans like mortgages, home equity, personal loans, military loans, iBOT loans, share secured loans, student loans and business loans.
Investment services: Take this credit union as an option if you are looking for where to save your money for a better interest.
Insurance: Choose Service Credit Union to gain access to the best insurance plans that can benefit you now and in the future.
Product Details
Banking services
Checking accounts: Choose between everyday checking accounts or dividend checking accounts. With the latter, you have the advantage of earning 0.15% per annum. Nevertheless, you need to maintain a daily balance of $1500 to avoid possible charges.
Savings account: Save your money into different purses like primary savings, youth savings club, military savings, holiday savings, money market, and trust. Note that you cannot use the money market wallet if your savings is not up to $2500.
Business account: Are you a business person looking for a perfect account to run your businesses? Consider Service Credit Union as it has different accounts (like business checking accounts, business savings) and services like business partner services, business finance guide, and business internet banking.
Lending services
Mortgages: Looking for a loan to buy a house? Choose Service Credit Union mortgages.
You can also use the home equity loan if you are a homeowner. Use your house as a security to get the loan for your financial needs. Get a loan cash that can reach up to $50,000 for your personal needs like medical bills, auto repair, travel and more.
Tap the advantage of 0.75% reduction in military loans when you choose the loan as a military personnel in the US.
In addition, use your savings as collateral to get loan cash for your needs. Your interest keeps adding and you get your account back after paying off the outstanding balance.
Investment services
Partner with Service Credit Union to access teams of specialists who can help you to determine the best investment scheme for you. Also they can fashion out a way you can invest wisely.
Insurance
Insure your property with Service Credit Union when you choose the credit union insurance scheme.
Where This Product Stands Out
Has numerous products
Enjoy a different variety of products from Service Credit Union like bank accounts, loans, investments, and insurance. You can choose any service that best suits your needs.
Serves beyond United States
Remember that Service Credit Union serves the US military base in Germany. Therefore, be ready to consider this credit union if you are in Germany or a member of the US military.
Has numerous branches
Yes, choose Service Credit Union to have easy access to money in your locality. Don’t forget the credit union surrounds you with 37 branches in 3 states.
Gives special offers to military personnel
Know that you may find it difficult to join if you are not a US military personnel. Truly, you can access Service Credit Union even if you are not in the military but note that the credit union gives special offers to US military personnel.
Where This Product Falls Short
Has limitation by states
Don’t consider this credit union if you are not from New Hampshire, Massachusetts, or North Dakota. Your eligibility may be in shambles.
Gives special treatment to military personnel
Do you know that most credit unions are community oriented? If yes, know that Service Credit Union is not an exception. It gives priority to US military personnel when considering eligibility.
High charges fees
Ready to pay a charge whenever you fail to maintain a daily balance of $1500 in your checking account.
How to Qualify for This Product
To Qualify for Service Credit Union ensure you meet one of the following criteria:
- Be a member of the U.S military personnel
- Ensure you or member of your family works in the department of defense
- Belong to the Member of American Consumer Council.
- Belong to a certain group of people
How to Apply for This Product
To apply for Service Credit Union, begin the application online and ensure you have the following documents along with you.
- Birth certificate
- SSN (Social Security Number)
- A US bank account
- Driver’s license
Alternatives to This Product
Connexus Credit Union
Choose Connexus Credit Union if you want a credit union that offers competitive rates on checking accounts and gives you access to 67,000 ATMs across the country.
Customer Reviews
Service Credit Union has a BBB rating of A+ despite the bank’s poor performance in addressing customer complaints —having closed 38 complaints in the previous 3 years and just 16 complaints in the last 12 months. Nonetheless, customer star rating on the platform justifies that as the credit union receives 1.36 stars from possible 5.
Methodology
We reviewed *this product* based on 20 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated *this product* based on the weighting assigned to each category:
- Loan cost: 35%
- Loan details: 25%
- Customer experience: 20%
- Eligibility and accessibility: 10%
- Application process: 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit scores and time in business requirements and the geographic availability of the lender. Finally, we evaluated *this product* customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.
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