Tower Federal Credit Union Named a “Best-in-State”Credit Union by Forbes Magazine—Four Years in a Row!

For four years in a row, Forbes Magazine has named Tower Federal Credit Union a Best-in-State credit union for the state of Maryland. Tower is one of only three credit unions statewide to make this year’s list honoring the top 3.4% of credit unions nationwide.

For the fourth consecutive year, Tower Federal Credit Union has been named a Maryland “Best-in-State” credit union in Maryland by Forbes Magazine. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider.

Only 3.4% of the nation’s credit unions made the cut for this year’s list—and only three credit unions for the entire state of Maryland.

“The Forbes honor is truly a testament to the excellent service, support and care that our Tower team shows our members every day, going above and beyond to make sure our members’ financial needs are met,” says Rick Stafford, Tower’s President and CEO. “This recognition would not be possible without our outstanding employee team, and it is even more meaningful because it came from Tower members.”

To create the list, Forbes and Statista conducted independent interviews of approximately 31,000 U.S. consumers. Participants were asked to rate financial institutions at which they have or previously have had checking accounts. They were also asked to make recommendations regarding overall satisfaction and assess banks/credit unions in the following areas: Trust, Terms & Conditions, Branch Services, Digital Services, Customer Service, and Financial Advice. For each bank/credit union in each state a sentiment analysis approach of publicly available online text reviews and ratings was applied.

Stafford says that in addition to Tower’s commitment to exceptional member service, he attributes the four consecutive years of Forbes honors to the credit union’s low or no fee products and services, competitive rates, state-of-the-art digital banking, focus on financial education and member give-back, and community involvement through the TowerCares Foundation.

The awards list was announced on June 20, 2023, and can be viewed on the Forbes website.