Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Overall Bank Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 4.25 |
| Share certificate | 3.75 |
| Trustworthiness | 5 |
| Total | 4.25 |
Pros and Cons
| Pros | Cons |
|
|
ABD Federal Credit Union Share Savings Account - Product Name Only
As with most credit unions, you must open the
The Split Rate Savings Account pays better rates on higher balances, but you must keep $500 in your account at all times.
ABD Federal Credit Union Draft Checking Account - Product Name Only
The
ABD Federal Credit Union Share Certificate - Product Name Only
ABD Federal Credit Union pays better rates on certificates than most brick-and-mortar institutions, but you can still find higher rates with some online banks. Keep in mind that ABD only offers term lengths up to three years, while most institutions have terms up to five years.
How ABD Federal Credit Union Works
ABD Federal Credit Union is designated as a minority-led credit union (MDI) by the NCUA. The NCUA defines an MDI as a credit union in which "more than 50% of its current members are minority individuals, more than 50% of its current and eligible potential members are minority individuals, and more than 50% of its current board members are minority individuals."
ABD Federal Credit Union has two branches in Michigan (Detroit and Warren) and one branch in Illinois (Belvidere).
ABD is part of the CO-OP Shared Branch and ATMs networks, which have access to 5,000 shared branches and around 30,000 free ATMs nationwide. You can't open an account at a shared branch, but you can receive assistance.
The credit union's mobile app doesn't have many online reviews yet. So far, it has 5 out of 5 stars in the Apple store and 4.3 out of 5 stars in the Google Play store.
To contact customer service, call Monday through Thursday from 9 a.m. to 5 p.m., or Friday from 9 a.m. to 5:30 p.m. (Michigan branches are in ET, and the Illinois branch is in CT.)
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts.
How to Join ABD Federal Credit Union
ABD is a credit union, so only certain people can join. You may be eligible for membership if you meet one of the following criteria:
- You are an employee or retiree of certain Fiat Chrysler Automobiles facilities
- You are an employee or retiree of a Select Employee Group
- You have a family member who is a member of ABD
You also must open an
The Role of Black-led Financial Institutions
There is a history of racial prejudice in banking and lending that has significantly impacted Black Americans and contributed to a racial wealth gap in the US. Black-led financial institutions serve an integral role in providing services and products to Black communities.
ABD Credit Union has a branch in Detroit, Michigan. According to the US Census Bureau, over 77% of the city population is Black.
Many Black-led credit unions are also involved in their local communities. On its website, ABD states that its staff is involved with service organizations such as Habitat for Humanity and the Nancy Boykin Continuing Education School for Teenage Mothers.
Is ABD Federal Credit Union Trustworthy?
We include ratings from the Better Business Bureau so you can see how an institution addresses customer issues.
ABD Federal Credit Union received an A+ rating from the BBB. A great BBB rating doesn't necessarily guarantee a smooth relationship with a financial institution, though. Read online customer reviews and talk to current customers to see if ABD Federal Credit Union could be a good match.
ABD Federal Credit Union doesn't have any public controversies.
ABD Federal Credit Union vs. Liberty Bank & Trust
Liberty Bank and Trust is a bank, not a credit union — so if you don't qualify to join ABD, Liberty is the clear choice between the two.
You might prefer ABD for its convenience. Liberty has just one branch in Michigan and one in Illinois; there are no free ATMs in Michigan and only one in Illinois. But ABD has 5,000 shared branches and 30,000 free ATMs nationwide.
ABD Federal Credit Union vs. First Independence Bank
First Independence Bank is a good choice if you aren't eligible to join ABD, because almost anyone in Detroit can bank with First Independence.
ABD has a large shared branch and ATM network, but it only has one checking account. First Independence offers several checking options, including a second-chance account for people who wouldn't normally qualify to open a checking account.
Frequently Asked Questions
Where is ABD Federal Credit Union located?
ABD Federal Credit Union branches are located in the following cities:
Warren, Michigan
Detroit, Michigan
Belvidere, Illinois
Is ABD Federal Credit Union safe?
Yes, ABD Federal Credit Union is federally insured by the NCUA. Up to $250,000 is secure in a bank account per depositor.
Is ABD Federal Credit Union a good credit union?
You might like ABD Federal Credit Union if you work for Fiat Chrysler Automobiles facilities in Illinois or Michigan and want to bank with a local financial institution. However, bear in mind that you'll need to meet certain requirements to waive the monthly service fees on savings and checking accounts.
If you're searching for competitive interest rates on savings accounts or share certificates, you'll like prefer another financial institution.