Tower Federal Credit Union

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A short history of Tower FCU

Since its inception in 1953 the Tower Federal Credit Union has been serving its members in the LAUREL, Maryland area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Richard Stafford, the Tower FCU has grown its membership to over 167,814 with assets of more than $3,006,324,008. They have a main office and 17 branch offices. Please see the credit unions website or contact them by phone at (301) 497-7000 or email them at none to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in LAUREL, MD.

General Information For Tower FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 8333
Address PO BOX 1280 
State Maryland 
Zip-Code 20725
Phone Number (301) 497-7000
Fax Number (301) 497-8933
Email Address: none
CEO/President Richard Stafford
Members 167,814 
Full-Time Employees 458 
Part-Time Employees 63 
Number of Branch Offices 17 
Total Assets 3,006,324,008 

Compare Tower Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Market Usa CU Laurel Branch 8871 Gorman Rd 20723 (301) 586-3400 No 2.66
W S S C CU WSSC FCU 14501 Sweitzer Ln 20707 (301) 206-8111 No 2.87
Apl CU Main Office 11050 Johns Hopkins Rd 20725 (240) 228-5250 No 4.91
N A R C CU George Washington Carver Center 5601 Sunnyside Ave Bldg 1-1180 20705 (301) 474-0200 No 6.18
Greenbelt CU Greenbelt Federal Credit Union 112 Centerway 20770 (301) 474-5900 No 6.94

Tower Federal Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

Tower Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 10.90 2.24 2.54 4.00 3.50
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 332 56 56 138 56
Rank Among All Maryland Credit Unions 26 7 11 18 7

Tower Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 0.05 0.15 0.18 0.30 0.30
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 125 119 120 302 259
Rank Among All Maryland Credit Unions 10 17 20 40 24
Tower Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 10.90065,934133,219,417
All Other Unsecured Loans/Lines of Credit 10.74016,18159,448,153
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 8.0003372,519,449
New Vehicle Loans 2.24021,849529,034,968
Used Vehicle Loans 2.54022,031378,917,813
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.0002,446421,425,669
Total Other Real Estate Loans/Lines of Credit 3.50010,428484,502,801
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.2002882,189,315
TOTAL LOANS & LEASES 139,4942,011,257,585

Tower Federal Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 1,080261,772,6602,54071,889,649
    b. 15 Years or less 99881,231,6208015,186,827
    a. > 15 years 304,123,0522541,600
    b. 15 Years or less 32772,651,068267,485,165
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 111,647,26900


Closed-End Fixed Rate 82724,906,101884,170,228
Closed-End Adjustable Rate 6124,03000
Open-End Adjustable Rate 9,595459,472,6701,638176,430,718
Open-End Fixed Rate 0000
TOTALS 12,874905,928,4704,374275,704,187


Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 7,640419,038,9080
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Tower Federal Credit Union Member Offerings
First Time Homebuyer Program Yes
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards No
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes