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How do I join a credit union?

Why Should I Join a Credit Union? 

  • They Provide Great Financial Services

They’re Safe: Credit unions offer a safe place for you to save your money with deposits insured up to $250,000.  Read more on National Credit Union Administration’s website at

They Have Better Rates and Lower Fees: Since credit unions are not-for-profit, anything the credit union makes is passed onto you. On the whole credit unions typically offer higher rates on savings, lower fees, and lower rates on loans.

They Offer many of the Same Services as Other Financial Institutions like:

  1. Direct deposits
  2. Credit cards with low interest rates and low or no annual fees
  3. Financial education/counseling
  4. Online banking
  5. ATMs with no surcharge
  6. Overdraft protection
  7. First time homebuyer program
  8. And many more…
  • You’re Not Just a Member, You’re an Owner

Credit union is a cooperative financial institution that’s owned and controlled by the members. Since they’re not-for-profit, they exist to serve you, the member. Not for profit, not for charity, but for service is a credit union motto.

As a member, you have a say in how the credit union is run – you vote for your credit union officials.

  • What do I Need to Join a Credit Union?

About $5 to $15.  That’s the average cost of purchasing a credit union share.  For most credit unions, this is a one-time membership fee.

  • To Pick a Credit Union to Join

Anybody can join a credit union. Each credit union serves what’s called their “field of membership” – that’s the commonality between the members. You may be eligible to join a credit union based on your:

  1. Employermany employers sponsor their own credit unions
  2. Geographic Location – many credit unions serve anyone that lives in particular geographic area
  3. Familymost credit unions allow members’ families to join. So if someone in your family is already a member of a credit union – you may be eligible too!
  4. Membership in a group like a church, school or alumni, labor union, homeowners’ association, etc.
  • How Do I Know Which Credit Union(s) to Pick?

You can look for a credit union near you by going to Find a Credit Union.   Then talk to your local credit union and ask what their requirements for membership are.

Back to Credit Unions

5 Comments leave one →
  1. July 10, 2013 11:52 pm

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  4. May 20, 2010 5:05 pm

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