FAQs
Pretty much anyone can join. Use our handy dandy find a credit union tool to find a credit union that’s perfect for you.
Usually, credit unions require you to live, work, worship, or study in the area the credit union serves. If you know a family member who belongs to a credit union you can join, too. But don’t fret, our finder will help you find your credit union match.
Because credit unions are non-profit and exist to serve you and your fellow members, you get some big perks a bank just doesn’t give. We went ahead and made you a list:
- Lower interest rates on mortgages and other loans
- Low or no fee credit cards with lower interest rates
- High-interest rates on savings accounts
- Anywhere fee-free ATM access with over 30,000 ATMs in the national CO-OP network
- Nationally recognized financial literacy programs
No actually, we’re kinda old. In 1934 the Federal Credit Union Act was passed, which meant federally charted credit unions were established in all states. Nowadays there are over 5,398 credit unions which translates to over 130 million members with combined assets of over $1.8 trillion.
Credit unions want to make their communities stronger. Every credit union across the U.S. provides support, funds, goods, and services to help their local communities and charities. The organizations and types of support they offer vary, but they are all committed to their communities. Be sure to ask your local credit union what they currently do to support your community. We bet they’ll be happy to do a little humble bragging.
Credit unions have been helping members improve their credit scores for a very long time. You can take advantage of this benefit by becoming a member. Visit a credit union near you (https://www.tryacreditunion.com/find-a-credit-union) to find out how they can start helping you, too!
Absolutely! Credit unions mission is to serve their community and their members, so they love to help members reach their life goals. Some of the many ways they do so include helping you learn how to budget and save towards a goal, how to improve your credit score, or how to consolidate your debts. They also offer financial literacy classes, webinars, and educational articles to help you reach your financial potential. Our Financial Resource Center (https://www.tryacreditunion.com/financial-resource-center) holds a treasure trove of financial education, just poke around a bit in and take a look!
Ahh yes, the old myth that credit unions don’t offer online banking or mobile banking apps. Well, they do! Just find a credit union near you (https://www.tryacreditunion.com/find-a-credit-union) to learn about their online and mobile capabilities. They will help you get things done whenever, wherever, and however you need. Credit Unions are all about making their members happy, and after all, convenience = happiness!
While not every credit union offers private student loans, many do! Find the credit unions near you (https://www.tryacreditunion.com/find-a-credit-union) and ask if they can help you get a great rate for a private student loan, or whether they can refinance your existing student loans.
Credit Unions are a safe place for your money. Unlike other financial institutions, credit unions don’t engage in predatory lending practices, payday loans, subprime loans, or other risky and unsavory practices.
Federally insured credit unions are nationally protected. Under the Credit Union Share Insurance Fund, deposits are insured for up to $250,000 per individual depositor. Members have never lost a cent at a federally insured credit union.
So, yes, you’re safe with us.
Credit unions are not-for-profit organizations that exist simply to serve their members. In fact, credit unions are actually owned by their members. Banks are for-profit and exist to make a profit.
You can take out loans, make deposits, save for your future and everything else, just like you could at a bank. But, because a credit union only exists for its members, all its profits go back to its members for them to enjoy as reduced fees, higher savings rates, cash back, and lower loan rates.
Also, credit unions are community-based. That means they’re run by locals in your community and not some big corporate headquarter somewhere far away. Pretty neat, huh?
Glad you asked because we have a handy CO-OP locator so you can find an ATM near you wherever you are.
If you’re old school you can call 888-748-3266.
And if you’re new school you can *text your zip code to 91989 or use or CO-OP mobile locator app (iPhone or Android)
For more info on how to get the app, visit the ATM branch page here on our site.
*Standard messaging rates apply.
Yes!
Nationally, credit union members have unlimited access to over 30,000 surcharge-free ATMs through the CO-OP Network.
And a lot of these ATMs are at retail convenience stores like 7-Eleven, Circle K, Costco, Publix, Dunkin Donuts, and more. Meaning you have more access to banking than most traditional bank customers. Ironic, right?
Let’s bust a myth, shall we? Some people think they need to be members of a specific organization or work at a certain company to join credit unions, but that is not true.
If you live, work, worship, or study in a specific geographic area, you can generally join a credit union in that area. And if you have a family member who belongs to a specific credit union, you can join, too. Use our credit union finder to locate the credit unions near you to find your perfect match.
Fun fact, did you know that you can join a credit union for as little as $5? Well, now you do! Find a credit union near you and check them out today!
Over 140.6 Million people belong to a credit union across the country*
(*NCUA 2023 Year-End Call Report Data)
Yes!
Credit union members get exclusive access to rewards and benefits through Love My Credit Union Rewards. And it adds up—Love My Credit Union Rewards has helped members save nearly $2 billion! Best of all it really is free, and you don’t have to do anything to save–just be a credit union member. Take a look at what discounts you can get at LoveMyCreditUnion.org.