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  • Lake Trust Credit Union Membership

    • Lake Trust Credit Union is headquartered in Brighton, Michigan and has been serving members since 1944.
    • 8th largest credit union in the state of Michigan, managing $2.58 Billion in assets, serving over 178,000 members.

    Membership: Live, work, worship, or attend school in Michigan.

  • Lake Michigan CU logo

    Lake Michigan Credit Union Membership

    • Lake Michigan Credit Union is a member-owned financial cooperative providing banking services including savings, loans, and other financial services.
    • The largest credit union in Michigan with assets totaling $8.43 Billion and serving over 387,000 members.

    Membership: Becoming a member is incredibly easy, and almost everyone has what it takes to join.

  • Wings Financial CU logo

    Wings Financial Credit Union Membership

    • Wings Financial Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • Minnesota’s largest credit union has assets totaling $6.18 billion and serves over 296,000 members.

    Membership: Anyone who lives or works in specific geographic areas in WA, MI, MN, WI, FL, and GA.

  • dfcu financial logo

    DFCU Financial Membership

    • DFCU Financial is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • Michigan’s 2nd largest credit union with assets totaling $5.52 Billion and serving more than 230,000 members.

    Membership: Extended to anyone who lives, works, or worships in the 68 counties of the Lower Peninsula of Michigan.

  • MSU FCU logo

    MSU Federal Credit Union Membership

    • MSU Federal Credit Union is a not-for-profit, member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The 3rd largest credit union in Michigan, with assets totaling $5.38 Billion and serving more than 293,000 members.

    Membership: Open to the MSU community, their families, and select employee and community groups.

  • Everwise Credit Union

    Everwise Credit Union Membership

    • Everwise Credit Union offers banking solutions including checking accounts, savings accounts, mortgages, auto loans, home equity loans, HELOCs and much more.
    • The largest credit union in Indiana has assets totaling $5.17 billion and provides banking services to more than 306,000 members.

    Membership: Live or work in select counties and townships in Michigan and Indiana.

  • Genisys CU logo

    Genisys Credit Union Membership

    • Genisys Credit Union is a member-owned financial cooperative offering banking services and financial products.
    • 4th largest credit union in Michigan and the 10th largest in the United States with assets totaling $3.28 Billion and providing banking services to more than 229,000 members.

    Membership: Live in the state of Michigan or select counties of Minnesota and Pennsylvania. Related to current member.

  • United Federal Credit Union

    United Federal Credit Union Membership

    • United Federal Credit Union offers a diverse array of products and services for businesses and individuals, include checking and savings accounts; auto loans, RV and boat loans, credit cards; mortgage, and more.
    • 5th largest credit union in Michigan with assets totaling $3.17 Billion and providing banking services to more than 178,000 members.

    Membership: Work for or retired from one of our 900+ Corporate Members. Live, work, worship or attend school near one of our branches. Immediate family member of one of our Members

  • MICHIGAN SCHOOLS AND GOVERNMENT Credit Union

    Michigan Schools and Government Federal Credit Union Membership

    • Michigan Schools and Government Credit Union is headquartered in Clinton Township, Michigan and has been serving members since 1954.
    • 6th largest credit union in Michigan, managing $3.53 Billion in assets and serving over 148,000 members.

    Membership: Persons who reside, are employed, worship, or attend an educational institution in any county within the State of Michigan.

  • ELGA Credit Union

    ELGA Credit Union Membership

    • ELGA Credit Union is headquartered in Grand Blanc, Michigan and has been serving members since 1968.
    • Manages $1.47 Billion in assets and serves over 95,000 members.

    Membership: Individuals who live, work, worship, volunteer, or attend school within Michigan.

  • Forward Financial Credit Union

    Forward Financial Credit Union Membership

    • Forward Financial Credit Union is headquartered in Niagara, Wisconsin and has been serving members since 1948.
    • Manages $88,405,786 in assets and serves 8,182 members.

    Membership: Live or work in specific counties in Wisconsin and Michigan.

  • Iron County Community Credit Union

    Iron County Community Credit Union Membership

    • Iron County Community Credit Union is headquartered in Hurley, Wisconsin and has served members since 1950.
    • Manages $42,575,320 in assets and serves 3,918 members.

    Membership: Live, work, or own property in Iron, Ashland, and Vilas County in Wisconsin.

  • Tri-County Credit Union

    Tri-County Credit Union Wisconsin Membership

    • Tri-County Credit Union is headquartered in Marinette, Wisconsin and has served members since 1936.
    • Manages $39,649,412 in assets and serves 2,849 members.

    Membership: If you live or work in Marinette or Oconto County in Wisconsin or Menominee County in Michigan.

  • Bay Shore Credit Union

    Bay Shore Credit Union Membership

    Bay Shore Credit Union is headquartered in Marinette, Wisconsin and has been serving members since 1953.

    Manages $46,466,666 in assets and serves 3,391 members.

    Membership: Open to anyone living or working in Marinette and Oconto Counties in Wisconsin and Menominee County in Michigan.

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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