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  • MariSol Federal Credit Union

    MariSol Federal Credit Union Membership

    • MariSol Federal Credit Union is headquartered in Phoenix, Arizona and has served members since 1954.
    • Manages $51.46 Million in assets and serves over 7,000 members.

    Membership: Live, work, or worship in the areas served by the credit union.

  • Mohave Community Federal Credit Union

    Mohave Community Federal Credit Union Membership

    • Mohave Community Federal Credit Union is headquartered in Kingman, Arizona and has served members since 1957.
    • 25th largest credit union in Arizona, managing $57.18 Million in assets and serving over 5,000 members.

    Membership: Membership is open to all Mohave County residents.

  • Cochise Credit Union

    Cochise Credit Union Membership

    • Cochise Credit Union is headquartered in Willcox, Arizona and has served members since 1958.
    • 24th largest credit union in Arizona, managing $58.69 Million in assets and serving over 5,000 members.

    Membership: Serves residents and their immediate family members residing or working in specific geographic areas in Arizona.

  • Banner Federal Credit Union

    Banner Federal Credit Union Membership

    • Banner Federal Credit Union is headquartered in Mesa, Arizona and has served members since 1957.
    • 23rd largest credit union in Arizona, managing $68.28 Million in assets and serving over 8,000 members.

    Membership: Membership eligibility is limited to Banner Health System and Sonora Quest Laboratory employees.

  • First American Credit Union

    First American Credit Union Membership

    • First American Credit Union is headquartered in Casa Grande, Arizona and has served members since 1962.
    • 22nd largest credit union in Arizona, managing $104.4 Million in assets and serving over 14,000 members.

    Membership: All it takes to join First American Credit Union is an opening deposit of just $25 plus a $10 non-refundable membership fee.

  • Coconino Federal Credit Union

    Coconino Federal Credit Union Membership

    • Coconino Federal Credit Union is headquartered in Flagstaff, Arizona and has served members since 1955.
    • 21st largest credit union in Arizona, managing $124.19 Million in assets and serving over 10,000 members.

    Membership: Anyone who lives, works, or worships in Coconino County.

  • Pyramid Federal Credit Union

    Pyramid Federal Credit Union Membership

    • Pyramid Credit Union is headquartered in Tucson, Arizona and has served members since 1929.
    • 19th largest credit union in Arizona, managing $233.38 Million in assets and serving over 18,000 members.

    Membership: Anyone who lives, works, or worships in Pima County can join Pyramid FCU.

  • Landings Credit Union

    Landings Credit Union Membership

    • Landings Credit Union is headquartered in Tempe, Arizona and has served members since 1953.
    • 18th largest credit union in Arizona, managing $243.97 Million in assets and seving over 16,000 members.

    Membership: Arizona School, College, & University employees, students, & family members.

  • Pinal County Federal Credit Union

    Pinal County Federal Credit Union Membership

    • Pinal County Federal Credit Union is headquartered in Casa Grande, Arizona and has been serving members since 1954.
    • 17th largest credit union in Arizona, managing $295.25 Million in assets and serving over 26,000 members.

    Membership: Live and work in Pinal County, Arizona.

  • AERO Federal Credit Union

    AERO Federal Credit Union Membership

    • AERO Federal Credit Union is headquartered in Glendale, Arizona and has been serving members since 1958
    • 16th largest credit union in Arizona, managing $305.47 Million in assets and serving over 23,000 members.

    Membership: Everyone is eligible to join.

  • American Southwest Credit Union

    American Southwest Credit Union Membership

    • American Southwest Credit Union is headquartered in Sierra Vista, Arizona and has served members since 1955.
    • 15th largest credit union in Arizona, managing $374.42 Million in assets and serving over 31,000 members.

    Membership: Live, work, or worship in one of the following Arizona counties: Cochise, Pima, Graham, Greenlee, or Santa Cruz.

  • SunWest Credit Union

    SunWest Credit Union Membership

    • SunWest Federal Credit Union is headquartered in Phoenix, Arizona and has served members since 1937.
    • 13th largest credit union in Arizona, managing $572.79 Million in assets and serving over 56,000 members.

    Membership: You live, work, worship, or attend school in Maricopa or Pima County.

  • Copper State Credit Union

    Copper State Credit Union Membership

    • Copper State Credit Union is headquartered in Phoenix, Arizona and has served members since 1951.
    • 12th largest credit union in Arizona, managing $604.34 Million in assets and serving over 47,000 members.

    Membership: Live, work, attend school, or worship in the designated Arizona counties.

  • Tuscon Federal Credit Union

    Tucson Federal Credit Union Membership

    • Tucson Federal Credit Union is headquartered in Tucson, Arizona and has served members since 1937.
    • 10th largest credit union in Arizona, managing $692.71 Million in assets and serving over 59,000 members.

    Membership: You live, work, volunteer, worship, or attend school in Pima County or if you are an immediate family or household member of someone who satisfies one of the previous criteria.

  • Arizona Central Credit Union

    Arizona Central Credit Union Membership

    • Arizona Central Credit Union is headquartered in Phoenix, Arizona and has served members since 1939.
    • 9th largest credit union in Arizona, managing $750.85 Million in assets and serving over 100,000 members.

    Membership: Everyone is welcome to apply.

  • Pima Federal Credit Union

    Pima Federal Credit Union Membership

    • Pima Federal Credit Union is headquartered in Tucson, Arizona and has served members since 1951.
    • 8th largest credit union in Arizona, managing $1.13 Billion in assets and serving over 65,000 members.

    Membership: Live, work, worship, or attend school in specific Arizona counties.

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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