PO BOX 1280
Laurel, MD 20725

Phone 1-301-497-7000

Notable Rates APY Vs.Others
Savings 0.45% 1.90% →
1-Year CD 1.25% 1.90% →
2-Year CD 1.40% 1.95% →
5-Year CD 1.85% 2.00% →
30-Year Mortgage 3.54% 3.14% →
15-Year Mortgage 3.19% 2.59% →
HELOC N.A. 2.50% →

2020 Overview

General Credit Union Information

Tower is an NCUA insured institution located in Laurel, MD. It was founded in 1953 and has approximately $3244.14 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
Charter Number # # 8333
Date Established 1953
Assets $3,244.14 million
Loans $2,441.10 million
Deposits $2,818.69 million
Capital $411.33 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 - April 4, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.35% $2,500 - Learn MoreShow Less
CD Rates (Share Certificate Rates) APY MIN MAX
Special: 3 Mo CD
0.25% $5,000 - Learn MoreShow Less
3 Mo CD
0.25% $5,000 $99,999 Learn MoreShow Less
6 Mo CD
1.05% $500 $99,999 Learn MoreShow Less
Special: 9 Mo CD
1.50% $5,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.45% $5 - Learn MoreShow Less
Fixed IRA
1.25% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $10 - Learn MoreShow Less

Loan Rates - April 4, 2020

Your Current Location: Connecticut, CT 06828

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.

Your Location:

Tower Locations

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
4.53% 5.86

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 June 30, 2019, Tower had $17,560,649 in non-current loans and $1,815,025 in owned assets. To cover these potential losses it had $411,327,657 in net worth and $15,944,924 in loans loss reserves. That gives it a Texas Ratio of 4.53%.

Net Worth
Tower U.S. Average
12.67% 13.65%

Tower FCU has a net worth of 12.67% versus the BestCashCow average of 13.65. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Tower

Branches and Savings

What is Tower?

A federal credit union, registered with the NCUA under certificate #8333.
Learn more about credit unions here.

Is Tower FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Tower?

Please see Field of Membership information above for information on who is eligible to join.

What are Tower's share account and share certificate rates?

Tower's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Tower?

Tower has total capital of $411.33 million. Full information on Tower's financial position is located above.

Who owns Tower?

Credit Unions are owned by their members.

Where are Tower branches located?

See branch locations nearby.

Are Tower ATMs Open 24/7?

Do Tower ATMs accept cash deposits?

Can Tower customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Tower have a mobile app?

Does Tower have mobile deposit?

Does Tower have quick pay?

How can Tower transfer money to other banks or credit unions?

Does Tower report to credit bureaus?

Does Tower use Chexsystems?

Does Tower use Equifax?

What is Tower's toll free phone number?

What is Tower's ACH Routing Number?

What is Tower's SWIFT code?

Where can I find Tower's wire transfer form?

What is the Tower address for deposits?

What Products Does Tower Offer

Does Tower offer mortgages?

Compare mortgage rates here.

Does Tower offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Tower offer auto and RV loans?

Compare auto loan rates here.

Does Tower offer student loans or personal loans?

Compare personal loan rates here.

Customer Reviews for Tower

There are currently no comments for Tower. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →