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The bottom line: Border Federal Credit Union is a great choice if you are searching for a local credit union in Texas with good share certificates. Border is also a Juntos Avanzamos designated credit union, so it is geared toward local immigrant and Hispanic-American communities. This credit union won’t be the best option if you want an institution with a national ATM network — you might prefer one of the best banks to avoid ATM fees if you’re worried about ATM charges.
Border Federal Credit Union Review: Overall Rating
FeatureInsider rating (out of 5)Checking3.5Savings3.5Money market account3.5Share certificate3.75Trustworthiness4Total3.75
Border Federal Credit Union: Pros and Cons
ProsCons
Juntos Avanzamos designated credit union that serves a Hispanic-American community
Immigrants and non-US citizens can open an account regardless of immigration status
Solid interest rates on certificates
No monthly service fees on savings or checking accounts
Only available in TexasWon’t be able to earn interest if you have a low daily balance in your savings or money market accountsMonthly service fees for money market account (unless you can waive them)Low mobile app ratings
Border Federal Credit Union Regular Savings Account – Product Name Only Review
The Border Federal Credit Union Regular Savings Account works best if you can maintain at least $500 in the account daily, so you’ll be able to earn a bit of interest. If you’d prefer to get a higher interest rate on your account, you may want to read our best high-yield savings accounts guide.
Border Federal Credit Union Simple Checking Account – Product Name Only Review
The Border Federal Credit Union Simple Checking Account is a great free checking account option with no minimum opening deposit and free overdraft protection.
If you frequently travel outside of the state, you’ll want to watch out for out-of-network ATM fees since most of the credit union’s free ATMs are in Texas.
Border Federal Credit Union Share Certificate – Product Name Only Review
Border’s has solid share certificates that pay more than the average CD. The best CD rates are available at online banks and credit unions, though.
Border Federal Credit Union Money Market Account – Product Name Only Review
The Border Federal Credit Union Money Market Account has a tiered interest rate, so you’ll benefit most if you can maintain an account balance over $100,000. It’s still a decent option if you can keep at least Border Federal Credit Union Money Market Account in your account — that way, you can waive the monthly service fee.
About Border Federal Credit Union
Border Federal Credit Union has five branches in Texas and serves local Hispanic-American communities. You can find branches in Del Rio, Eagle Pass, and Crystal City.
The credit union has 11 free ATMs in the cities that it serves. Members also have access to 500 surcharge-free ATMs in Texas and Louisiana through the Stripes Stores ATM network.
For customer service, you can reach one of the credit union’s Call Centers. Call Monday through Thursday from 9:00 a.m. to 4:30 p.m. CT or Friday from 9 a.m. to 5 p.m CT.
If you prioritize mobile banking, Border’s mobile app may not be up to par. Its mobile app has 3.6 out of 5 stars in the Google Play Store and 2.2 out of 5 stars in the Apple Store.
Border is federally insured by the NCUA. Your deposits will be protected up to $250,000 in individual accounts, and $500,000 in joint bank accounts.
How to Join Border Federal Credit Union
You are eligible to join Border Federal Credit Union if you or a family member work or live in any of the following counties in Texas:
CrockettDimmitEdwardsFrioKinneyLaSalleMaverickRealSuttonTerrellUvaldeVal VerdeZavala
To become a member, you’ll need to open a savings account with at least Border Federal Credit Union Regular Savings Account – Minimum Deposit. You should also bring proof that you live in an eligible county.
The Role of Hispanic American Financial Institutions
Historically, Hispanic-American people have been limited by discriminatory lending practices, which have affected their opportunities to build wealth. Hispanic American-owned financial institutions address this gap, as well as serve other underserved communities.
Border is a Juntos Avanzamos designated credit union and a community development financial institution. You can use alternative forms of ID if you don’t have a Social Security number or US ID. You may use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Instead of a Social Security number, you can provide an ITIN.
Additionally, you can change Border’s website from English to Spanish and receive bilingual customer service.
Border is also involved with its local community. It is partnered with Junior Achievement and NEFE High School to provide financial education to students.
Is Border Federal Credit Union Trustworthy?
Border Federal Credit Union hasn’t gone through any recent public controversies.
The Better Bureau Bureau rates businesses according to how they handle customer complaints and whether they have transparent business practices. Border Federal Credit Union has an NR (“No Rating”) because the BBB says it doesn’t have enough information to rate the institution yet.
To see if Border might be an ideal match, read online customer reviews or talk to friends and family about their perspectives.
Border Federal Credit Union FAQs
Where can I find Border Federal Credit Union locations?
Border Federal Credit Union has locations in the following cities in Texas: Del Rio, Eagle Pass, and Crystal City.
Is Border Federal Credit Union federally insured by the NCUA?
Yes, Border Federal Credit Union bank accounts are NCUA-insured up to $250,000 per depositor, per category.
What are the current rates for Border Federal Share Certificates?
Border Federal Credit Union share certificates pay Border Federal Credit Union Share Certificate – APY APY. You’ll need a minimum of Border Federal Credit Union Share Certificate – Minimum Deposit to open an account.
Methodology: How We Reviewed Border Federal Credit Union
For our Border Federal Credit Union review, we used a bank account methodology to review different features for distinct types of bank accounts.
For example, we’ll review early withdrawal penalties and term variety specifically for CDs. Meanwhile, for checking accounts, we’ll factor in the ATM network size and fees, as well as its overdraft protection options. We’ll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.
How Border Federal Credit Union Compares
Border Federal Credit Union vs. Falcon International Bank
Falcon International Bank is another Hispanic American-owned financial institution in Texas. Hispanic-American financial institutions tend to focus on serving their local communities, so you’ll have to see which are closest to your home to gauge what your options are.
Falcon International Bank may be a more convenient option because it’s available in more cities than Border FCU. The bank has branches in Laredo, Del Rio, Eagle Pass, San Antonio, Brownsville, Buda, McAllen, and Zapata.
If you’d like to open a checking account with a low initial deposit, Border FCU may be a more compelling option. The Border Federal Credit Union Simple Checking Account has a Border Federal Credit Union Simple Checking Account – Minimum Deposit minimum opening deposit, and it doesn’t charge monthly service fees. Falcon International Bank checking accounts either have monthly service fees you’ll need to be mindful of, or higher minimum opening deposit requirements.
Border Federal Credit Union vs. International Bank of Commerce
International Bank of Commerce is also a Hispanic American-owned institution. It has more branches in Texas than Border Federal Credit Union, so it may be your best bet if a nearby branch presence is a priority for you.
If you’re planning to get a certificate, Border Federal Credit Union will likely be a better option. International Bank of Commerce CDs require a minimum of International Bank of Commerce CD – Minimum Deposit, and it only offers terms up to four years.