Unlike investor-owned banks, credit unions are nonprofit organizations owned by its members. Credit unions typically pass on savings to customers in the form of affordable consumer loans, share certificates, student loans and retirement accounts. All member deposit accounts are insured for at least $250,000 by the NCUA, an independent federal agency that regulates and supervises federal credit unions.
If you need to find a credit union near you, you can use a computer or a smartphone to locate one quickly. Check out the chart to see how many branches — and in which states — 30 popular credit unions have. Once you learn how to find your nearest credit union, you can choose the best credit union for you.
How to Find a Credit Union Near You
You can use a search engine to find nearby credit union locations.
Here’s how to use a search engine to find a nearby credit union:
- Use a search engine such as Google and type in the words, “credit union near me.”
- Review the search results to find nearby credit union locations.
- Visit a credit union’s website to determine if you are eligible to join — look for a page called “Membership” or “Join” and click on that for details.
- Confirm the credit union hours for the location you’d like to visit.
You can conduct this search on your smartphone, too — just follow the same steps with your iPhone or Android device. Once you find the institution you want, visit a local branch to open a credit union membership.
Use the NCUA Credit Union Locator Tool
The NCUA is a valuable resource for easy-to-understand information about credit unions. In addition, it offers an easy-to-use search tool to help you find a credit union within a five- to 50-mile area.
You can search a credit union by address, credit union name or charter number. In addition, you can sort search results by member services offered, nearby ATMs, and drive-through and drive-up branches.
Here’s how to find a credit union using the NCUA tool:
- Go to the NCUA website.
- At the top of the page, enter either the address, city and state — or ZIP code — of the area you want to search or the credit union name or charter number.
- In the next box, select the appropriate search type.
- If you want to narrow your search, click on “Refine your search” and check the boxes you want to include.
- Click on “Search” and view your results.
See: Banks Near Me
Who Is Eligible to Join a Credit Union?
Credit unions serve individuals with common interests or affiliations. Typically, members must live, worship or go to school a certain county or city, or work for certain companies. Some credit unions cater to particular industries — for instance, Schools First Federal Credit Union serves the educational community in Southern California. Although the rules of joining might seem prohibitive, most credit unions extend membership to family members of those eligible.