Selfreliance Federal Credit Union logo

Selfreliance Federal Credit Union in Chicago, IL

4.3/5

Selfreliance Federal Credit Union is a member-owned credit union offering checking, savings, loans, mortgages, and credit cards with competitive rates and access to 85,000+ fee-free ATMs nationwide.

Data compiled from public sources · Rating from CreditDoc methodology

Selfreliance Federal Credit Union Review

Selfreliance Federal Credit Union is a federally chartered credit union serving members across multiple states, with branch locations in Connecticut (Wethersfield, New Britain) and Massachusetts (Westfield). As a member-owned financial institution, it operates under the credit union model where members are technically owners rather than customers of a commercial bank. The credit union offers a comprehensive suite of consumer financial products including checking and savings accounts, share certificates (CDs), auto loans, mortgages, personal credit cards, and commercial truck loans.

75% APY. They also provide digital banking services, wire transfers, Zelle money transfer capabilities, and mortgage refinancing with rate adjustment options. S.

banks. This provides significant convenience and cost savings compared to traditional banks with limited ATM footprints. The credit union also markets specific programs such as a 10% down mortgage option with no PMI for first-time homebuyers and competitive rate comparisons against national bank averages.

As a credit union, Selfreliance requires membership eligibility, though the website indicates they accept new immigrants with Ukrainian passports and offer account opening to this demographic. Members should verify they meet membership requirements before applying. The institution appears stable and established but operates with more limited branch presence than major national banks, which may impact convenience for some consumers.

Services & Features

ATM network access (85,000+ fee-free ATMs)
Auto loans (4.69% APR and up)
Checking and savings accounts
Commercial truck loans (7.74% APR and up)
Credit cards (Visa Preferred at 9.90% APR)
Digital banking platform
Money Market accounts (up to 3.29% APY)
Mortgage lending (5.25% APR and up) with refinancing options
Mortgage refinancing with rate adjustment options
Share certificates (CDs) up to 3.75% APY
Wire transfers (national and international)
Zelle money transfer service

Feature Checklist

Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection

Pros & Cons

Pros

  • Access to 85,000+ fee-free ATMs nationwide, claimed to exceed top 3 U.S. banks combined
  • Competitive rates on auto loans (4.69% APR for 2024+), mortgages (5.25% APR), and credit cards (9.90% APR)
  • Certificate yields up to 3.75% APY with 5-month terms offering recent rate increases
  • 10% down mortgage option with no PMI for first-time homebuyers with one-time free rate adjustment
  • Member-owned credit union structure with potential for better rates and terms than commercial banks
  • Full-service digital banking, wire transfers, and Zelle money transfer capabilities
  • Specific mortgage rate guarantees with step-by-step guidance from home lending advisors

Cons

  • Limited branch presence (only 3 confirmed branches in Connecticut and Massachusetts) compared to national banks
  • Membership eligibility requirements may exclude some consumers from joining
  • Rates are variable and subject to change at any time; advertised rates require credit approval
  • No mention of online account opening for all customer types; may require in-person visits
  • Limited geographic accessibility for existing members without national branch network

Rating Breakdown

Value
5.0
Effectiveness
4.4
Customer Service
3.9
Transparency
3.5
Ease of Use
4.5

Frequently Asked Questions

Is Selfreliance Federal Credit Union legitimate?

Yes. Selfreliance Federal Credit Union is a registered company, headquartered in Chicago, IL.

How long does Selfreliance Federal Credit Union take to show results?

Results vary by individual situation. Contact the provider to discuss expected timelines for your specific needs.

Quick Facts

Headquarters
Chicago, IL
BBB Accredited
No
Starting Price
Contact provider
Setup Fee
None
Money-Back Guarantee
No
Visit Selfreliance Federal Credit Union

CreditDoc Diagnosis

Doctor's Verdict on Selfreliance Federal Credit Union

Selfreliance Federal Credit Union is best for existing or prospective members in Connecticut and Massachusetts seeking competitive consumer lending rates, particularly for auto loans and mortgages, combined with broad ATM access nationwide. The main caveat is that membership eligibility and limited branch presence restrict accessibility compared to national banks, and rates shown are promotional figures requiring credit approval.

Best For

  • Existing members in Connecticut and Massachusetts seeking competitive loan and savings rates
  • Auto loan and mortgage refinancing borrowers with strong credit profiles
  • Consumers prioritizing fee-free ATM access and digital banking convenience
  • First-time homebuyers eligible for 10% down mortgages without PMI
Updated 2026-04-29

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Financial Wellness Guides

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