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Bank-Fund Staff Federal Credit Union mortgage review

This lender services all its loans in-house but doesn’t offer government-backed mortgage products.

The Bank-Fund Staff Federal Credit Union (BFSFCU) provides a slate of mortgage services to its membership, including a variety of fixed- and adjustable-rate mortgages. But the credit union’s narrow membership rules and lack of specialty loans may keep it from being the right lender for you.

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Loan products offeredConventional, Jumbo, Home Equity, HELOC, Refinance
Minimum credit scoreConventional: 620
Minimum down payment (Conventional)3%
State availabilityAvailable in all states
NMLS #283762

Bank-Fund Staff Federal Credit Union requirements

This credit union doesn’t provide its mortgage loan requirements online. But it does offer a quote tool that allows you to get interest rate quotes by entering general information about the loan you’re looking for, your down payment and your credit score. The tool is not an official preapproval with the lender and doesn’t guarantee that you can get a loan with BFSFCU.


BFSFCU doesn’t list all its required documents online because it uses an automated underwriting system that verifies your data without always needing corresponding documentation. But you may need to provide some general documents, including the following:

  • Driver’s license or other form of identification
  • Two years of W-2s or pay stubs
  • Bank statements

Costs and fees

Because mortgage fees can vary between states and even counties, BFSFCU doesn’t give specific dollar amounts for their fees online. But they include an accurate estimate of mortgage fees as part of their quotes after you apply for a loan. Expect to pay the following fees as part of your fees and closing costs.

  • Appraisal and survey fees
  • Credit report
  • Taxes
  • Title insurance
  • Recording fees
  • Flood certification
  • Loan processing fees
  • Document preparation fees

How to apply for a mortgage with Bank-Fund Staff Federal Credit Union

Start your application online following the steps below.

  1. From the Mortgage Loans page on the website, select Apply Now.
  2. Select Start a new application and choose Next.
  3. Enter your credit union membership and contact information, and answer questions about the type of loan you’re looking for.
  4. Enter personal information about yourself and anyone applying jointly, if applicable.
  5. Provide information about the property you want to purchase.
  6. Answer questions about your assets, expenses and income.
  7. Review your answers and submit your application.

What types of mortgages can I get through Bank-Fund Staff Federal Credit Union?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Bank-Fund Staff Federal Credit Union offers 3 more mortgage products

This credit union offers the following additional mortgage loans:

  1. Home equity lines of credit (HELOCs). Get up to $500,000 in a line of credit with no application fee or annual fees.
  2. Home equity loans. BFSFCU offers fixed-rate Home equity loans for up to 90% of your combined loan-to-value (CLTV).
  3. Mortgage refinancing. Refinance your home to access your equity, lower your monthly payment or change the payoff term of your loan.

How Bank-Fund Staff Federal Credit Union’s mortgage products compare to other lenders

BFSFCU offers multiple terms for standard fixed- and adjustable-rate mortgage loans. But you’ll need to look elsewhere if you want a government-backed loan, such as an FHA, VA or USDA loan. Other than refinance and home equity products, this credit union doesn’t offer specialty loans you might find at other lenders, such as physician or construction loans.

BFSCU’s Home Advantage program offers a cash reward to borrowers who register and use one of the program’s approved real estate agents. You get a cash reward equal to 20% of the agent’s commission to use to cover closing costs, pay down the principal on your home or take as cash to use as you please.

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Bank-Fund Staff Federal Credit Union reviews and complaints

Since this credit union only offers its products to a limited membership, online customer reviews are hard to find. As of August 2021, BFSFCU isn’t accredited with the Better Business Bureau (BBB) and has an A+ rating for responding to six complaints in the last 12 months. There are no BBB customer reviews.

BFSFCU has 2.5 out of 5 stars at Yelp with only 23 customer reviews. Most complaints report poor customer service and an inadequate website and mobile app for online banking.

Bank-Fund Staff Federal Credit Union pros and cons


  • Loan servicer. All loans are serviced in-house, so you don’t have to worry about BFSFCU selling your loan to another bank.
  • Experience with international clients. Because the World Bank Group and International Monetary Fund has international employees, this credit union works with non-US citizens and customers who have recently moved to the US.


  • Members only. You have to be a BFSFCU member to apply for a mortgage loan, and membership is limited to World Bank Group employees and their families.
  • No government-backed or specialty loans. If you’re looking for an FHA, USDA, VA or specialty loan, you should shop around.
  • Not all options listed. The website says BFSFCU offers low down payment and low-credit score options to first-time homebuyers but doesn’t include any details or programs online.

What is Bank-Fund Staff Federal Credit Union?

BFSFCU was opened in 1947, offering membership to the employees and family of the World Bank Group and the International Monetary Fund. All the credit union’s physical locations are in Washington DC, but it’s part of the Co-op Credit Union shared branches network, which offers banking services nationwide at other credit unions within the network.

This lender prides itself in offering services to its international customers and recently signed an agreement with Western Union to provide international payment services.

Review by

Heather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, and, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.

Expert review

This credit union offers a decent range of fixed- and adjustable-rate mortgage terms along with refinance loans and home equity products. But you have to be a member to apply, and BFSFCU doesn’t offer government-backed loans. So, if you’re looking for a VA, FHA or USDA loan, you’ll need to shop around for another lender.

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