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  • 121 Financial CU logo

    121 Financial Credit Union Membership

    • 121 Financial Credit Union is headquartered in Jacksonville, Florida, and has been serving members since 1935 offering savings, checking, loans, credit and debit cards, online banking, and other related services.
    • Manages $709.88 Million in assets and serves over 50,000 members.

    Membership: 121 Financial offers financial products and services tailored to the unique needs of residents within Florida. Membership is also open to the immediate family of current members.

  • Black Hills FCU logo

    Black Hills Federal Credit Union Membership

    • Black Hills Federal Credit Union is headquartered in Rapid City, South Dakota, and has been serving members since 1941.
    • The largest credit union in the state of South Dakota and manages $2.27 Billion in assets serving over 97,000 members.

    Membership: Black Hills provides financial services to residents and businesses within a specific geographical area. Membership is also open to the immediate family of current members.

Use the search and filter to find a credit union near you and one that meets your needs.

What is a Credit Union?

Credit unions are not-for-profit financial cooperatives that serve people who share a common bond, such as the places they live or work. As a financial institution, credit unions offer many of the same banking products and services offered by banks.

  • Checking
  • Savings
  • Money Market
  • Certificates
  • Car Loans
  • Personal Loans
  • Credit Cards
  • Mortgages
  • Debit cards
  • Direct deposit and other electronic transfers
  • Online banking and bill pay
  • Mobile banking and deposit via an app
  • Investment services, insurance, and more.

Credit unions exist for the mutual benefit of their members. In fact, you’re a member, not a customer, when your banking with a credit union.

Read more: Learn All About Credit Unions

Why Credit Unions?

Credit unions offer competitive interest rates.

Credit unions are highly competitive. They often offer better savings rates and lower interest rates on loans. This is due to the lower cost of operations and the tax exemptions that allow them to invest profits back into the membership.

Credit unions are democratically governed.

This means you get a voice, and elections are based on a one-member, one-vote philosophy. Your participation is vital as a credit union member. Make your voice heard at your credit union by using its products, attending events, and communicating with your fellow members.

Credit unions are regulated and insured.

Credit unions are highly regulated financial entities. Federally chartered credit unions are supervised by the National Credit Union Administration (NCUA), an independent federal agency that regulates, charters, and supervises federal credit unions. State-chartered credit unions are regulated by the state in which they operate.

Differences between credit unions and banks

Because of their not-for-profit structure, making profits for shareholders isn’t a goal (unlike banks). Profits are reinvested into the membership to grow financial offerings and support members.

Like other not-for-profit organizations, some credit unions enjoy federal tax exemptions, allowing them to offer better rates on savings accounts, lower rates on loans, and little or no fees. It’s also important to understand that credit unions pay other types of taxes, such as state, sales, and payroll taxes. They contribute taxes back into the community for which they serve.

Learn more about the differences between credit unions and banks.

Where to Find a Credit Union

Each credit union has membership eligibility requirements. There’s a good chance you’re eligible to join many different credit unions.

Step 1: Start Your Search

You can search the marketplace to find a credit union in your state.  Use the filters to find one in your state.

Select a credit union where you have an affinity to the groups they serve. This ensures a deeper connection and understanding of who you are, what you do, and where you live.

Step 2: Verify Your Membership Eligibility

Review the requirements listed in the description of each credit union. You’ll notice they’ll have eligibility listed, such as:

  • having family belonging to a credit union
  • living in a particular area
  • working for a company
  • belonging to a group
  • a member of a church
  • student, faculty, or alumni of a school
  • or even by joining an association when you apply

Step 3: Open Your Membership Account

Credit unions allow you to apply for membership online or by visiting the local branch. To verify your identity, bring your valid ID and proof of address.

Most credit unions require a membership share account that establishes your relationship. You must have this share account to become a “member-owner” of the credit union. Additionally, this share deposit is “locked in” and cannot be used for the entirety of your membership.

Each credit union has a specific membership share deposit requirement, often between $1 and $50.

*Note: Once you close your credit union membership, you will get the share deposit back.

Step 4: Make Use of Your Credit Union Membership

After becoming a member-owner, you’re eligible to open accounts at the credit union. It’s good to know that credit unions often use different names for the same products you’ll find at banks. For instance, they might refer to checking accounts as “share draft accounts.”

Most importantly, “Once a member, always a member.”

Once you’ve joined a credit union, you’re a member for life. You can keep your credit union even if you move out of your city, leave a job, or change churches or associations.

With convenient online services and mobile apps, it is easy to keep your membership going. And once you’re a member, you can invite your immediate family to join, too.

Remember, you’re a member-owner, so do more with your credit union.

Your participation is vital to the credit union’s success. That means using more of your credit union’s banking services, loans, and other services. The revenues made from these services help the cooperative cover its expenses, grow its offerings, and remain financially stable.

Want to learn more about credit unions? Visit our credit union hub.

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