Tower Federal Credit Union
Headquarters
Po Box 1280
Laurel, MD 20725
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Phone 1-301-497-7000
2025 Overview
General Credit Union Information
Tower is an NCUA insured institution located in Laurel, MD. It was founded in 1953 and has approximately $4708.24 millions in assets.
Who can join?
How to Become a Member
If you are employed by one of the businesses listed below or if you are a member of one of the associations, you are eligible to join Tower Federal Credit Union. Tower's membership includes companies, businesses and associations located in our primary service area.
For the list
https://www.towerfcu.org/pages/field-of-membership.html
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 8333 |
| Date Established | 1953 |
| Assets | $4,708.24 million |
| Loans | $3,504.18 million |
| Deposits | $4,100.78 million |
| Capital | $644.91 million |
Field of Membership Restrictions
Membership is in Tower Federal Credit Union is open to members of the Maryland Chapter of the American Consumer Council. Membership is also open to employees Lorien Health Systems, McClendon Corporation, Next Century Corporation and over 300 Select Employer Groups and organizations.
Deposit Rates - July 30, 2025
Your Current Location: New York, NY 10116
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Prime Share
|
0.65% | $5 | - |
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|
|
Money Market
|
1.00% | $25,000 | $49,999 |
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|
|
Money Market
|
1.75% | $50,000 | $99,999 |
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|
|
Money Market
|
2.25% | $100,000 | $249,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 month Special Share
|
1.10% | $5,000 | - |
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|
| 6 month Regular Share
|
1.55% | $500 | - |
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|
| 9 month Special Share
|
3.80% | $5,000 | - |
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|
| 1 year Regular Share
|
4.25% | $500 | - |
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|
| 18 month Special Share
|
3.80% | $5,000 | - |
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|
| 2 year Regular Share
|
4.15% | $500 | - |
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|
| 3 year Regular Share
|
3.80% | $500 | - |
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|
| 4 year Regular Share
|
4.25% | $500 | - |
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|
| 4 year Bump-Up
|
3.45% | $5,000 | - |
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|
| 4 year Mini-Jumbo
|
4.10% | $20,000 | - |
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|
| 5 year Regular Share
|
4.00% | $500 | - |
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|
| 5 year Bump-Up
|
3.50% | $5,000 | - |
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|
| 5 year Mini-Jumbo
|
4.15% | $20,000 | - |
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|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Regular Checking
|
0.15% | $10 | - | Learn More |
Loan Rates - July 30, 2025
Your Current Location: New York, NY 10116
| Home Equity Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| Line of Credit See Table |
4.75% | 4.75% | Varies | |
Compare with RATE Line of Credit from PenFed Credit Union
See All Home Equity Rates |
||||
| 10 Year Loan
See Table |
5.25% | 5.25% | $1,072.92 | |
| 15 Year Loan
See Table |
5.99% | 5.99% | $843.32 | |
| Auto Loan Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 3 Year | 1.99% | 1.99% | $715.96 | |
| 4 Year | 2.99% | 2.99% | $553.25 | |
| 5 Year | 2.99% | 2.99% | $449.11 |
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 7 Year Adjustable Conforming See Amortization Table |
7.40% | 6.75% | $2,075.51 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.68% | 6.63% | $2,810.46 | |
| 15 Year Fixed Conforming See Amortization Table |
6.69% | 6.63% | $2,810.46 | |
| 20 Year Fixed Conforming See Amortization Table |
7.06% | 6.88% | $2,457.96 | |
| 30 Year Fixed Jumbo See Amortization Table |
7.03% | 7.00% | $2,128.97 | |
| 30 Year Fixed Conforming See Amortization Table |
7.04% | 7.00% | $2,128.97 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 7 Year Adjustable Conforming See Amortization Table |
7.40% | 6.75% | $2,075.51 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.68% | 6.63% | $2,810.46 | |
| 15 Year Fixed Conforming See Amortization Table |
6.69% | 6.63% | $2,810.46 | |
| 20 Year Fixed Conforming See Amortization Table |
7.06% | 6.88% | $2,457.96 | |
| 30 Year Fixed Jumbo See Amortization Table |
7.03% | 7.00% | $2,128.97 | |
Compare with 6.380% APR and 6.250% 30-Year Fixed RATE from Reliant Home Funding, Inc.
See All Mortgage Rates |
||||
| 30 Year Fixed Conforming See Amortization Table |
7.04% | 7.00% | $2,128.97 | |
|
Compare with 6.380% APR and 6.250% 30-Year Fixed RATE from Reliant Home Funding, Inc.
See All Mortgage Rates |
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Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Branches
Below are Tower branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
New York City,New York
Tower Locations around zip code 10116
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 173.33 | A | View Lobby Hours | |
| 175.47 | B | View Lobby Hours | |
| 176.54 | C | View Lobby Hours | |
| 177.62 | D | View Lobby Hours | |
| 179.43 | E | View Lobby Hours | |
| 179.61 | F | View Lobby Hours | |
| 180.37 | G | View Lobby Hours | |
| 181.66 | H | View Lobby Hours | |
| 182.67 | I | View Lobby Hours | |
| 183.63 | J | View Lobby Hours | |
| 183.90 | K | View Lobby Hours | |
| 186.75 | L | View Lobby Hours | |
| 188.12 | M | View Lobby Hours | |
| 188.12 | N | View Lobby Hours |
Climate Policy and Initiatives
TOWER is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Tower Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Tower. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Tower | U.S. Average |
|---|---|
| 3.33% | 6.86 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of March 31, 2025, Tower had $18,229,139 in non-current loans and $3,934,258 in owned assets. To cover these potential losses it had $644,913,834 in net worth and $19,899,962 in loans loss reserves. That gives it a Texas Ratio of 3.33%.
Net Worth
| Tower | U.S. Average |
|---|---|
| 13.68% | 14.12% |
Tower FCU has a net worth of 13.68% versus the BestCashCow average of 14.12. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Tower
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