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Compare Credit Unions

During the height of the financial crisis, many individuals pulled their money out of commercial banks for credit unions, largely because of the nonprofit status of credit unions. That sentiment persists even today. Even so, in many respects, credit unions operate like commercial banks.  

They frequently offer the same types of financial services as banks, including checking accounts, savings accounts and loans. But unlike banks, credit unions function as nonprofit entities. This distinction carries many advantages, including Annual Percentage Yield (APY) rates that are higher than those for banks along with somewhat more lenient credit requirements for loans.

Eligibility  

While membership requirements for credit unions were formerly quite stringent, today nearly everyone is eligible to join at least one credit union.

Guarantees Against Loss

All credit unions offer their equivalent of savings and checking accounts, with deposits protected from loss by the National Credit Union Administration (NCUA); much like the Federal Deposit Insurance Corporation (FDIC) protects bank deposits. Many credit unions also provide members with access to Certificates of Deposit (CDs), loans and Individual Retirement Accounts (IRAs).

Interest Rates and APRs  

Account holders earn higher interest rates for credit union accounts than for bank accounts. However, interest rates vary. Credit unions frequently offer different earnings for various types of accounts.

Minimum Opening Deposit and Balance Requirements

Credit unions often have minimum opening deposit requirements, although amounts tend to be small. Credit unions also vary in minimum balances or minimal level of activity required, such as at least one transaction every 60 days, for accounts to remain active.

Fees

Although credit unions are nonprofit agencies, they still impose many of the same fees as commercial banks. Nonsufficient funds fees and late payment fees for loans are among the most common. Like fees imposed by banks, amounts credit union fees vary.

Services and Amenities

At one time, services offered by credit unions were limited. Today, many credit unions provide their members with a smorgasbord of services. Popular perks include credit and debit cards, access to surcharge-free ATMs, dedicated mobile banking apps, online banking, bill payment and other services.

Better Business Bureau and Bauer Financial Ratings

Prospective credit union members can check out institutions through Bauer Financial Ratings, which has evaluated the performance of banks and credit unions since 1983.  Consumers can also check out credit unions through the Better Business Bureau.

Compare Credit Unions

During the height of the financial crisis, many individuals pulled their money out of commercial banks for credit unions, largely because of the nonprofit status of credit unions. That sentiment persists even today. Even so, in many respects, credit unions operate like commercial banks.  

They frequently offer the same types of financial services as banks, including checking accounts, savings accounts and loans. But unlike banks, credit unions function as nonprofit entities. This distinction carries many advantages, including Annual Percentage Yield (APY) rates that are higher than those for banks along with somewhat more lenient credit requirements for loans.

Eligibility  

While membership requirements for credit unions were formerly quite stringent, today nearly everyone is eligible to join at least one credit union.

Guarantees Against Loss

All credit unions offer their equivalent of savings and checking accounts, with deposits protected from loss by the National Credit Union Administration (NCUA); much like the Federal Deposit Insurance Corporation (FDIC) protects bank deposits. Many credit unions also provide members with access to Certificates of Deposit (CDs), loans and Individual Retirement Accounts (IRAs).

Interest Rates and APRs  

Account holders earn higher interest rates for credit union accounts than for bank accounts. However, interest rates vary. Credit unions frequently offer different earnings for various types of accounts.

Minimum Opening Deposit and Balance Requirements

Credit unions often have minimum opening deposit requirements, although amounts tend to be small. Credit unions also vary in minimum balances or minimal level of activity required, such as at least one transaction every 60 days, for accounts to remain active.

Fees

Although credit unions are nonprofit agencies, they still impose many of the same fees as commercial banks. Nonsufficient funds fees and late payment fees for loans are among the most common. Like fees imposed by banks, amounts credit union fees vary.

Services and Amenities

At one time, services offered by credit unions were limited. Today, many credit unions provide their members with a smorgasbord of services. Popular perks include credit and debit cards, access to surcharge-free ATMs, dedicated mobile banking apps, online banking, bill payment and other services.

Better Business Bureau and Bauer Financial Ratings

Prospective credit union members can check out institutions through Bauer Financial Ratings, which has evaluated the performance of banks and credit unions since 1983.  Consumers can also check out credit unions through the Better Business Bureau.

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Company

Reviews

Monthly ATM Fee Rebates

Minimum Balance

Additional Details

Company Website

Digital Federal Credit Union

Digital Federal Credit Union

5
3
3
11 total votes
Monthly ATM Fee Rebates $5 Monthly ATM Fee Rebates
Minimum Balance $0 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
United Nations FCU

United Nations FCU

2
 
 
2 total votes
Monthly ATM Fee Rebates $0 Monthly ATM Fee Rebates
Minimum Balance $50 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
State Employees Credit Union

State Employees Credit Union

1
1
 
2 total votes
Monthly ATM Fee Rebates $20 Monthly ATM Fee Rebates
Minimum Balance $25 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • Surcharge Free ATMs
America First Credit Union

America First Credit Union

5
2
5
12 total votes
Monthly ATM Fee Rebates $10 Monthly ATM Fee Rebates
Minimum Balance $0 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
Hudson Valley Federal Credit Union

Hudson Valley Federal Credit Union

1
 
 
1 total votes
Monthly ATM Fee Rebates $16 Monthly ATM Fee Rebates
Minimum Balance $5 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
Alliant Credit Union

Alliant Credit Union

1
 
 
1 total votes
Monthly ATM Fee Rebates $20 Monthly ATM Fee Rebates
Minimum Balance $5 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
Affinity Plus Federal Credit Union

Affinity Plus Federal Credit Union

1
 
 
1 total votes
Monthly ATM Fee Rebates $10 Monthly ATM Fee Rebates
Minimum Balance $200 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
Police and Fire Federal Credit Union

Police and Fire Federal Credit Union

1
 
 
1 total votes
Monthly ATM Fee Rebates $0 Monthly ATM Fee Rebates
Minimum Balance $0 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees
The Pennsylvania State Employees Credit Union

The Pennsylvania State Employees Credit Union

1
 
 
1 total votes
Monthly ATM Fee Rebates $8 Monthly ATM Fee Rebates
Minimum Balance $0 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • Surcharge Free ATMs
Security Service Federal Credit Union

Security Service Federal Credit Union

 
2
 
2 total votes
Monthly ATM Fee Rebates $0 Monthly ATM Fee Rebates
Minimum Balance $5 Minimum Balance
  • CDs
  • Checking
  • IRAs
  • Savings
  • No Monthly Fees