Tower Federal Credit Union


Po Box 1280
Laurel, MD 20725
See all branch locations →

Phone 1-301-497-7000

Notable Rates APY Vs.Others
Savings 0.85% 5.40% →
1-Year CD 4.85% 5.77% →
2-Year CD 4.25% 5.50% →
5-Year CD 3.65% 5.25% →
30-Year Mortgage 7.04% 0.00% →
15-Year Mortgage 6.69% 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Credit Union Information

Tower is an NCUA insured institution located in Laurel, MD. It was founded in 1953 and has approximately $4492.75 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

NCUA Insured Yes / Federally Chartered
Charter Number # # 8333
Date Established 1953
Assets $4,492.75 million
Loans $3,332.55 million
Deposits $3,750.81 million
Capital $555.70 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 - December 3, 2023

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Prime Share
0.85% $5 - Learn More
Money Market
1.00% $25,000 $49,999 Learn More
Money Market
1.75% $50,000 $99,999 Learn More
Money Market
2.25% $100,000 $249,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
3 month Special Share
1.40% $5,000 - Learn More
6 month Regular Share
2.00% $500 - Learn More
9 month Special Share
4.45% $5,000 - Learn More
1 year Regular Share
4.85% $500 - Learn More
18 month Special Share
4.70% $5,000 - Learn More
2 year Regular Share
4.25% $500 - Learn More
3 year Regular Share
3.90% $500 - Learn More
4 year Regular Share
3.60% $500 - Learn More
4 year Bump-Up
3.10% $5,000 - Learn More
4 year Mini-Jumbo
3.75% $20,000 - Learn More
5 year Regular Share
3.50% $500 - Learn More
5 year Bump-Up
3.00% $5,000 - Learn More
5 year Mini-Jumbo
3.65% $20,000 - Learn More
Int Checking Rates APY MIN MAX
Regular Checking
0.15% $10 - Learn MoreShow Less

Loan Rates - December 3, 2023

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
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
Purchase Mortgage Rates APR Rate Monthly Payment

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.



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.

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Climate Initiatives

TOWER is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.

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
1.52% 4.93

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 June 30, 2023, Tower had $8,065,705 in non-current loans and $670,670 in owned assets. To cover these potential losses it had $555,702,058 in net worth and $19,899,962 in loans loss reserves. That gives it a Texas Ratio of 1.52%.

Net Worth
Tower U.S. Average
12.33% 13.17%

Tower FCU has a net worth of 12.33% versus the BestCashCow average of 13.17. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

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