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  • 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.

  • Teachers FCU logo

    Teachers Federal Credit Union Membership

    • Teachers Federal Credit Union is a community-based financial institution.
    • The 2nd largest credit union in New York with assets totaling $8.13 Billion and serving over 350,000 members.

    Membership: People living, working, or worshipping in the credit union’s geographic area can become a member and access banking services.

  • Patelco CU logo

    Patelco Credit Union Membership

    • Patelco Credit Union is a member-owned financial cooperative providing banking services including savings, loans, and other financial services.
    • The 6th largest credit union in California with assets totaling $7.95 Billion and serving over 384,000 members.

    Membership: Live, work, attend school, or worship in certain counties in California.

  • ESL FCU logo

    ESL Federal Credit Union Membership

    • ESL Federal Credit Union is a full-service, member-owned financial institution providing financial services.
    • Largest locally-led financial services institution in the Greater Rochester area with assets of $7.3 billion and one of the largest credit unions in New York State.

    Membership: Live, work, worship, or attend school in the geographic boundaries of the City of Rochester.

  • 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.

  • PSECU logo

    PSECU Membership

    • PSECU is a member-owned financial cooperative providing banking services.
    • The largest credit union in Pennsylvania with assets totaling $7.07 Billion and serving over 473,000 members.

    Membership: Attend, graduate of or work at one of Pennsylvania’s many colleges or universities and employees.

  • Logix logo

    Logix Federal Credit Union Membership

    • Logix Federal Credit Union is a member-owned financial cooperative providing financial banking services.
    • The 7th largest credit union in California, with assets totaling $7.19 Billion and serving over 209,000 members.

    Membership: Residents of AZ, CA, DC, MA, MD, ME, NH, NV, and VA, but primarily serves transportation (as Lockheed) equipment employees.

  • Delta Community CU logo

    Delta Community Credit Union Membership

    • Delta Community Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services to members.
    • The largest credit union in Georgia, with assets totaling $7.03 Billion and serving over 419,000 members.

    Membership: Open to anyone who lives or works in the many Georgia counties.

  • ENT logo

    Ent Credit Union Membership

    • Ent Credit Union is a community-based financial institution that provides a full range of personal and business financial solutions through more than 30 service centers.
    • The largest credit union in Colorado, with assets totaling $6.92 Billion and serving over 389,000 members.

    Membership: Open to those who live, work, worship, or attend school in select Colorado counties.

  • CEFCU logo

    Citizens Equity First Credit Union (CEFCU) Membership

    • Citizens Equity First Credit Union is a member-owned financial cooperative providing banking services, including savings, and loans.
    • The 2nd largest credit union in Illinois with assets totaling $6.79 Billion and serving over 352,000 members.

    Membership: Individuals living or working in certain Illinois and California counties.

  • GreenState CU logo

    GreenState Credit Union Membership

    • Green State Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The largest credit union in Iowa, with assets totaling $6.66 Billion and serving over 229,000 members.

    Membership: Those who live or work in Iowa or a county in Illinois, Wisconsin, Nebraska, or South Dakota that borders Iowa are eligible for membership.

  • UNFCU logo

    United Nations Federal Credit Union Membership

    • United Nations Federal Credit Union provides financial banking services.
    • The 4th largest credit union in New York, with assets totaling $6.44 Billion and serving over 155,000 members.

    Membership: Open to employees, consultants, and retirees of the United Nations and affiliated agencies.

  • Police and Fire FCU logo

    Police and Fire Federal Credit Union Membership

    • Police and Fire Federal Credit Union provides financial banking services such as loans, investments, savings, credit, and loans.
    • The 2nd largest credit union in Pennsylvania with assets totaling $6.31 Billion and serving over 347,000 members.

    Membership: Open to active and retired Philadelphia police officers, firefighters, and select employee groups, associations, and organizations in the State of Pennsylvania.

  • Wings Financial CU logo

    Wings Financial Credit Union Membership

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    • 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.

  • Redstone FCU logo

    Redstone Federal Credit Union Membership

    • Redstone Federal Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The largest credit union in Alabama, with assets totaling $6.1 Billion and serving over 537,000 members.

    Membership: Over 1,500 organizations, clubs, churches, and businesses make you eligible.

  • Idaho Central CU logo

    Idaho Central Credit Union Membership

    • Idaho Central Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The largest credit union in Idaho with assets totaling $6.04 Billion and serving over 406,000 members.

    Membership: Live or work in Idaho or Washington in certain counties and employees.

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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