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  • 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.

  • Connexus Credit Union logo

    Connexus Credit Union Membership

    • Connexus Credit Union is headquartered in Wausau, Wisconsin and has been serving members since 1935.
    • 4th largest credit union in Wisconsin, managing $5.43 Billion in assets, serving over 461,000 members.

    Membership: Eligibility includes affiliation to an association or group or those who live and work in specific counties in WI, MN, IL, and OH.

  • TruStone Financial Credit Union logo

    TruStone Financial Credit Union Membership

    • TruStone Financial Credit Union is headquartered in Plymouth, Minnesota has been serving members since 1939.
    • 2nd largest credit union in Minnesota, managing $4.84 Billion in assets and serving over 213,000 members.

    Membership: Eligibility includes if you live in designated counties in Wisconsin and Minnesota, are part of an educational group, or are employed by a partner company.

  • Affinity Plus Federal Credit Union

    Affinity Plus Federal Credit Union Membership

    • Affinity Plus Federal Credit Union is headquartered in St Paul, Minnesota and has been serving members since 1934.
    • 3rd largest credit union in Minnesota, managing $4.15 Billion in assets and serving over 261,000 members.

    Membership: Eligibility includes if you live, work, worship in specific Minnesota counties or attend school with partnered colleges, or related to an existing member.

  • Embarrass Vermillion Federal Credit Union

    Embarrass Vermillion Federal Credit Union Membership

    • Embarrass Vermillion Federal Credit Union is headquartered in Embarrass, Minnesota and has been serving members since 1941.
    • Manages $59.38 Million in assets and serves over 5,000 members.

    Membership: You must either live, work, worship, or attend school in St. Louis County, MN, North of Hwy 16 for at least six months out of the year, or have family who do.

  • WESTconsin Credit Union

    WESTconsin Credit Union Membership

    • WESTconsin Credit Union is headquartered in Menomonie, Wisconsin and has served members since 1939.
    • 12th largest credit union in Wisconsin, managing $1.91 Billion in assets and serving over 119,000 members.

    Membership: Living or working within the field of membership in designated Wisconsin and Minnesota counties.

  • Verve Credit Union

    Verve Credit Union Membership

    • Verve, a Credit Union is headquartered in Oshkosh, Wisconsin and has served members since 1938.
    • 13th largest credit union in Wisconsin, managing $1.49 Billion in assets and serving over 63,000 members.

    Membership: Live, work, or worship within the designated membership area or are immediate family members of an existing member.

  • Marine Credit Union

    Marine Credit Union Membership

    • Marine Credit Union is headquartered in La Crosse, Wisconsin and has been serving members since 1949.
    • 14th largest credit union in Wisconsin, managing $1.05 Billion in assets and serving over 78,000 members.

    Membership: Anyone who lives, works, or worships in specific Wisconsin, Minnesota, Iowa, and Illinois Counties.

  • SuperiorChoice Credit Union

    Superior Choice Credit Union Membership

    • Superior Choice Credit Union is headquartered in Superior, Wisconsin and has served members since 1932.
    • 18th largest credit union in Wisconsin, manages $796.71 Million in assets and serves over 44,000 members.

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

  • Firefighters Credit Union Wisconsin

    Firefighters Credit Union Membership (Wisconsin)

    • Firefighters Credit Union is headquartered in Onalaska, Wisconsin has been serving members since 1931.
    • Manages $118,882,262 in assets and serves 5,031 members.

    Membership: Lives or works in one of the designated counties in Wisconsin and Minnesota.

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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