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  • First Community Credit Union Membership

    • First Community Credit Union is headquartered in Beloit, Wisconsin and has served members since 1933.
    • Manages $305,252,894 and serves 28,500 members.

    Membership: Anyone who lives and works in Southern Wisconsin.

  • 1st Class Express Credit Union Membership

    • 1st Class Express Credit Union headquarters is in Waukesha, Wisconsin and has served members since 1932.
    • Manages $2,429,027 in assets and serves 648 members.

    Membership: Open to serving residents within its charter in Wisconsin.

  • Stoppenbach Credit Union Membership

    • Stoppenbach Credit Union headquarters is in Jefferson, Wisconsin and has served members since 1937.
    • Manages $2,068,403 in assets and serves 526 members.

    Membership: Stoppenbach operates under a state charter in Wisconsin, offering financial products and services tailored to the unique needs of residents within Wisconsin.

  • Wood County Employees Credit Union Membership

    • Wood County Employees Credit Union headquarters is in Wisconsin Rapids, Wisconsin and has been serving members since 1955.
    • Manages $1,070,328 in assets and serves 217 members.

    Membership: Wood County operates under a state charter in Wisconsin, offering financial products and services tailored to the unique needs of Wisconsin residents.

  • Police Credit Union Wisconsin Membership

    • Police Credit Union headquarters is in Sheboygan, Wisconsin and has been serving members since 1934.
    • Manages $979,770 in assets and serves 136 members.

    Membership: Police operate under a state charter in Wisconsin, offering financial products and services tailored to the unique needs of Wisconsin residents.

     

  • Holy Redeemer Community Credit Union Membership

    • Holy Redeemer Community of SE Wisconsin Credit Union headquarters is in Milwaukee, Wisconsin and has served members since 1993.
    • Manages $680,664 in assets and serves 271 members.

    Membership: Belong to any Churches Of God In Christ located within the Wisconsin counties of Jefferson, Kenosha, Milwaukee, Ozaukee, Racine, Rock, Walworth, Washington, and Waukesha.

  • Stoughton U.S. Rubber Employees Credit Union Membership

    • Stoughton U.S. Rubber Employees Credit Union headquarters is in Stoughton, Wisconsin has been serving members since 1951.
    • Manages $674,016 in assets and serves 272 members.

    Membership: Stoughton U.S. Rubber operates under a state charter in Wisconsin, offering financial products and services tailored to the unique needs of residents within Wisconsin.

  • Alloy Employees Credit Union Membership

    • Alloy Employees Credit Union headquarters is in Waukesha, Wisconsin, and has served members since 1961.
    • Manages $370,586 in assets and serves 155 members.

    Membership: Alloy operates under a state charter in Wisconsin, offering financial products and services tailored to the unique needs of Wisconsin residents.

  • School Employees Credit Union Membership (Wisconsin)

    • School Employees Credit Union headquarters is in Superior, Wisconsin has been serving members since 1936.
    • Manages $2,545,573 in assets and serves 550 members.

    Membership: All employees of the School District of Superior, Wisconsin.

  • Lac Courte Oreilles Federal Credit Union Membership

    • Lac Courte Oreilles (LCO) Federal Credit Union headquarters is in Hayward, Wisconsin and has been serving members since 2001.
    • Manages $2,573,316 in assets and serves 1,269 members.

    Membership: Open to those who live and work within the community.

  • Superior Municipal Employees Credit Union Membership

    • Superior Municipal Employees Credit Union headquarters is in Superior, Wisconsin and has served members since 1988.
    • Manages $2,953,334 in assets and serves 542 members.

    Membership: Open to those who meet the eligibility requirements.

  • Madison Fire Dept Credit Union Membership

    • Madison Fire Department Credit Union headquarters is in Madison, Wisconsin and has been serving members since 1931.
    • Manages $5,058,478 in assets and serves 848 members.

    Membership: Open to those in the Madison Fire Dept in Wisconsin.

  • Air Tech Credit Union Membership

    • Air Tech Credit Union headquarters is in Milwaukee, Wisconsin has been serving members since 1956.
    • Manages $3,107,325 in assets and serves 733 members.

    Membership: Open to Wisconsin residents who meet eligibility criteria.

  • Wisconsin Latvian Credit Union Membership

    • Wisconsin Latvian Credit Union headquarters is in Milwaukee, Wisconsin and has been serving members since 1961.
    • Manages $2,972,271 in assets and serves 376 members.

    Membership: Serving the Wisconsin Latvian community.

  • Kenosha Police and Firemen’s Credit Union Membership

    • Kenosha Police and Firemen’s Credit Union is headquartered in Kenosha, Wisconsin and has been serving members since 1928.
    • Manages $9,265,989 in assets and serves 1,110 members.

    Membership: Open to eligible members served by the credit union.

  • Holy Family Memorial Credit Union Membership

    • Holy Family Memorial Credit Union is headquartered in Manitowoc, Wisconsin and has served members since 1961.
    • Manages $17,505,268 in assets and serves 1,504 members.

    Membership: Holy Family Memorial (HFM) employees, volunteers, retirees

What is Banking?

Banking is a form of money management using products and services related to savings and loans.

Different Types of Financial Institutions

Banks

Banks are what we typically associate with banking. They come in different sizes: local, national, traditional and online-only. Federal or state agencies supervise banks. The FDIC insures deposits of participating banks.

Credit Unions

Credit unions are not-for-profit financial institutions. They offer products and services similar to banks with a focus on member service, not profit. The NCUA insures deposits from participating credit unions.

Alternative Financial Services

Many fintechs are non-chartered financial services companies that offer banking services. You might think of them as an app offering checking and savings accounts, debit cards, payments, etc. They are not banks but work with partner banks or credit unions to hold your deposits.

Types of Banking Accounts

Banking accounts help make financial transactions convenient.

Savings Account

A savings account helps you save your money. You’re storing your money for future use and hopefully earning a reasonable interest rate. Interest is the money you earn for letting the bank keep your money. Some financial institutions impose minimum deposits, withdrawal limits, and fees.

Checking Account

A checking account is a transactional account that allows you to make deposits and withdrawals of your money anytime. Checking accounts is not the best place to store your money, as the goal of the account is for use, not saving.

Most checking accounts do not pay interest, but some do. Be mindful of transaction limits, minimum balance requirements, and fees.

Debit Card

Checking accounts come with a debit card enabling you to spend your money conveniently. A debit card allows for making purchases at stores and online shopping. You can only spend the money that’s in your checking account. Additionally, you can use your debit card at ATMs to make deposits, withdrawals, check balances, and transfers between accounts.

Money Market Account

A money market account is a type of hybrid savings and checking account. It tends to have higher deposit requirements but often pays more interest than a savings account.

Certificate of Deposit (CD)

A certificate of deposit, also known as a CD, helps you save money with a set interest rate for a specific amount of time. Your cash is term-locked. In exchange, you get a higher interest rate compared to a traditional savings account. Certificate terms can start at 30 days and go to 5 or more years.

How to Choose the Best Banking Service

You have many choices on the type of account to use and the variety of financial institutions available. So, shop around. Ask the following questions to help you narrow down your choices:

  • What are the products and services offered?
  • What are the fees?
  • Are there minimum balance requirements?
  • Do I need a physical location (like a branch) or prefer better mobile app services?
  • Does local banking matter or is national big bank convenient?
  • Are deposits FDIC or NCUA insured?
  • How to access your money?
  • Debit card? ATM network?
  • Can I set auto-transfers, auto-payments, and alerts?

You want to determine how the banking provider aligns with your needs, the cost of services, safety, security, and overall convenience.

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