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Tower Federal Credit Union Named #1 Maryland Credit Union by Forbes Magazine

For the second year in a row, Tower has been named Maryland’s #1 Best-in-State Credit Union by Forbes Magazine, and was one of only five credit unions statewide to make the list honoring the top 3.4% of credit unions nationwide.

Forbes 2021 best-in-state credit unionsForbes Magazine has released its list of America’s Best-in-State Credit Unions for 2022, honoring the best credit unions nationwide.

For the second year in a row, Tower Federal Credit Union received top honors and ranked number one on the Forbes list of Best-in-State Credit Unions for the state of Maryland. Only 3.4% of the nation’s 5,400 credit unions made the cut for this year’s list. This marks the third consecutive year that Tower was recognized by Forbes as a Best-in-State Maryland credit union.

“We were excited to learn that Tower is once again ranked #1 on the Forbes Best-in-State list,” said Richard Stafford, Tower’s President and CEO. Stafford says he credits Tower’s employees who provide exceptional member service on a daily basis, going above and beyond to meet the credit union’s over 200,000 members’ financial needs.

Stafford also attributes the recognition to Tower’s commitment to providing low or no fee products and services, great rates, state-of-the-art digital banking, and focus on financial education, community involvement and member give-back.

To create the list, Forbes partnered with market research firm Statista to conduct in-depth interviews of more than 26,000 consumers from all 50 states on their banking relationships. Respondents provided an overall satisfaction score for the financial institution where they have or have had a checking account, and were asked if they would recommend the financial institution to friends and family.

The survey also answered detailed questions focused on six key areas: trust, terms & conditions (including reasonable and transparent fees), branch services, digital services, customer service and financial advice.

“We sincerely appreciate our loyal members and the confidence they place in our credit union,” says Al Smith, Tower’s Senior Vice President & Chief Experience Officer. “It is a privilege to serve as a trusted partner for our members and to empower them to reach their financial goals.”

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