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IDB Global Federal Credit Union Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 4 |
| Checking | 4.5 |
| Share certificate | 4.75 |
| Trustworthiness | 5 |
| Total | 4.5 |
IDB Global Federal Credit Union Pros and Cons
| Pros | Cons |
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About IDB Global Federal Credit Union
IDB Global Federal Credit Union is a Hispanic American-led institution with one branch in Washington, DC. You have free access to 28,000 ATMs in the CO-OP and Alliance One networks around the US.
Call or visit a branch Monday through Friday, from 9 a.m. to 4 p.m ET.
The IDB Global FCU mobile app has 4.8 out of 5 stars in the Apple store, and 4.5 out 5 stars in the Google Play store.
Your deposits are federally insured by the NCUA (National Credit Union Administration) for up to $250,000, or up to $500,000 for a joint account.
How to Join IDB Global Federal Credit Union
IDB Global Federal Credit Union is a credit union, not a bank, so only certain people can become members. You're eligible to join if you are:
- An employee or retiree of the IDB (Inter-American Development Bank) or IDB Invest
- An immediate family member of someone who works for the IDB or IDB Invest
- An IDB or IDB Invest consultant with a minimum six-month contract
- An executive/alternate director at the IDB or IDB Invest
- An intern at the IDB or IDB Invest
- An immediate family member of someone who is already a member of IDB Global FCU
You'll need to open an
Is IDB Global Federal Credit Union Trustworthy?
IDB Global Federal Credit Union does not have any recent public controversies.
The Better Business Bureau gives IDB Global FCU an A+ rating. A strong BBB grade indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB score doesn't guarantee that you'll have a strong relationship with a financial institution, though. You still may want to ask friends and family about their experiences with IDB Global FCU, or read online customer reviews.
The Role of Hispanic American-led Institutions
Many Hispanic American banks and credit unions provide services in both English and Spanish. There is a history of racial prejudice in banking and lending, specifically among Hispanic Americans, so working with a Hispanic American institution can help eliminate unfair bias.
Some of these institutions make it possible to open accounts if you are an immigrant or non-US citizen. IDB Global Federal Credit Union does require a US ID to open an account, but you can see a full list of banks that accept applications from immigrants and noncitizens without SSNs.
IDB Global Federal Credit Union FAQs
Is IDB Global Federal Credit Union legit?
Yes, IDB Global Federal Credit Union is a legitimate financial institution. It's monitored by the NCUA, and its bank accounts are federally insured for up to $250,000 per depositor, per account category.
How big is the asset of IDB Global Federal Credit Union?
IDB Global Federal Credit Union has over $779 million in assets, according to the NCUA.
Does IDB Global Federal Credit Union use Zelle?
Yes, you can access Zelle by logging into the credit union's mobile app.
IDB Global Federal Credit Union Bank Account Reviews
IDB Global Federal Credit Union Savings Account
The
IDB Global Federal Credit Union Checking Account
The
IDB Global Federal Credit Union Share Certificate
Most banks only have certificate terms up to five years, but
How IDB Global Federal Credit Union Compares
IDB Global Federal Credit Union vs. Wells Fargo
IDB Global Federal Credit Union is the only Hispanic-American institution in Washington, DC. You'll probably prefer IDB Global FCU if you qualify for membership and want to use a Hispanic American-led company.
If you prioritize a large branch network, you might like Wells Fargo because it has more branches around Washington, DC. You also don't have to be an IDB/IDB Invest employee to bank with Wells Fargo.
Wells Fargo doesn't require a Social Security number to open an account, which makes it a worthwhile choice if you're an immigrant or non-US citizen.
You'll also want to consider whether you prioritize certain features in a bank account. At Wells Fargo, you'll need to meet specific requirements to waive monthly service fees on checking and savings accounts. Meanwhile, IDB Global Federal Credit Union has free checking and savings accounts.
IDB Global Federal Credit Union vs. Bank of America
Bank of America will probably be a stronger option than IDB Federal Credit Union if you value a robust branch network. Bank of America has 3,900 financial centers, while IDB Federal Credit Union only has one location in Washington, DC. IDB Global Federal Credit Union also has membership eligibility requirements that you'll need to meet to open an account.
You might favor IDB Global Federal Credit Union over Bank of America if you want to open free checking and savings accounts. At Bank of America, you'll need to meet certain requirements to waive monthly service fees on checking and savings accounts.
Why You Should Trust Us: How We Reviewed IDB Global Federal Credit Union
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.