Credit unions have considerably fewer brick-and-mortar locations than most banks, which can be a drawback for clients who like in-person service. Most offer modern services such as online banking and auto-bill pay. Still, the small size of many credit unions can mean a compromise on accessib...
Credit unions must limit their customer base to an NCUA-approved “field of membership,” such as a workplace, school, place of worship, or geographic area.National credit unionswant to increase membership, so they may offer broader fields of membership, such as accepting members of a specific...
NCUA Gives 4 Credit Unions Much Wider Membership FieldsBy DAVID HARRISON The National Credit Union Administration has allowed four small credit unions to sharply increase their fields of membership.American Banker
Since Newsweek began including credit unions in its rankings just two years ago, DFCU has consistently earned its place, highlighting its legacy of excellence in service, financial stability, and member commitment. Learn Why 2024 Community Initiatives ...
Starting in 1982, the federal credit union regulator allowed credit unions to add multiple membership groups. The policy was disallowed by the U.S. Supreme Court in 1998, but revalidated by the U.S. Congress later that year. Allowing credit unions to attach multiple membership groups has contri...
Many credit unions are based in the community through which they were founded and tend to service a regional membership base. The local connection can help them build relationships with their members. Credit unions may not have as many branch locations as banks, opting to provide more online ban...
But opening an account at a credit union can be intimidating to some, primarily because credit unions use different terminology. When “eligibility” and “membership” come up, people think the process is going to be complicated—but it’s easy to open an account. To do so, complete three...
However, credit unions have members — not customers. To become a member, you’ll need to fulfill a different set of eligibility requirements. Credit unions select members based on their ‘field of membership’. That means there’s a common bond between all the members — this could be any...
Membership in the charitable organization could be as simple as paying a one-time fee of $10 or $15. Also, most credit unions extend eligibility to the immediate family of all their members. Joining a credit union and receiving top-notch customer service sounds great, but how do they stack...
Great option with partner credit unions when away from main branch. I'm very thankful. Donna BellessMarch 11 2023 Have been a member for 2 years and have had consistent excellent service. Marlin Schul M.D.March 8 2023 I have an account from Indiana I needed to transfer cash to and my...