fbpx
  • BECU logo

    BECU Membership

    • BECU is a member-owned credit union offering financial services.
    • The largest credit union in Washington, with assets totaling $24.75 Billion and serving over 1.26 million members.

    Membership: All Washington state residents are eligible to join. 

  • OnPoint Community CU logo

    onPoint Community Credit Union Membership

    • onPoint Community Credit Union is a member-owned, not-for-profit financial cooperative offering comprehensive financial solutions
    • Largest community-owned financial institution headquartered in Oregon with more than 406,000 loyal members.

    Membership: Lives, works, or worships in Clark or Skamania counties in Washington or 28 Oregon Counties.

  • Gesa CU logo

    Gesa Credit Union Membership

    • Gesa Credit Union is a community-chartered credit union that offers financial services in Washington, Oregon and Idaho.
    • It’s the 2nd largest credit union in Washington with assets totaling $4.11 Billion and serving more than 257,000 members.

    Membership: Live, work, worship, or attend school in the State of Washington, are a close relative of someone who qualifies as a member.

  • Horizon Credit Union

    Horizon Credit Union Membership

    • Horizon Credit Union is headquartered in Spokane Valley, Washington and has been serving members since 1948.
    • 12th largest credit union in the state of Washington, managing $2.11 Billion in assets and serving over 113,000 members.

    Membership: Eligibility extended to people living in eastern Washington, Idaho, western or central Montana or eastern Oregon.

  • TwinStar Credit Union

    TwinStar Credit Union Membership

    • TwinStar Credit Union is headquartered in Lacey, Washington and has been serving members since 1938.
    • 5th largest credit union in Washington, managing $4.27 Billion in assets and serving over 256,000 members.

    Membership: Eligibility includes if you live, work, or attend school in Washington state and select counties in Oregon.

  • Oregon Community Credit Union

    Oregon Community Credit Union Membership

    • Oregon Community Credit Union is headquartered in Eugene, Oregon and has been serving members since 1981.
    • 2nd largest credit union in Oregon, managing $3.52 Billion in assets and serving over 271,000 members.

    Membership: Multiple ways to be eligible, including living and working in designated counties in Oregon and Washington.

  • Rogue Credit Union

    Rogue Credit Union Membership

    • Rogue Credit Union is headquartered in Medford, Oregon and has been serving members since 1956.
    • 3rd largest credit union in Oregon, managing $3.33 Billion in assets and serving over 208,000 members.

    Membership: Live and work in specific counties in Oregon, California, and Idaho.

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.

Main Menu