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  • VacationLand Federal Credit Union

    VacationLand Federal Credit Union Membership

    • VacationLand Federal Credit Union is headquartered in Sandusky, OH, and has been serving members since 1956.
    • Manages over $297.4 million in assets and serves over 20,500 members.

    Membership: Live and work in northern Ohio.

  • Valley Communities Credit Union

    Valley Communities Credit Union Membership

    • Valley Communities Credit Union is headquartered in Mosinee, Wisconsin and has been serving members since 1935.
    • Manages $241,592,183 in assets and serves 15,341 members.

    Membership: Anyone who lives, works, or owns property in designated Wisconsin counties.

  • Valley First Credit Union

    Valley First Credit Union Membership

    • Valley First Credit Union is headquartered in Modesto, California and has been serving members since 1956
    • Manages $1.02 Billion in assets and serves over 78,000 members.

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

  • Valley Strong Credit Union

    Valley Strong Credit Union Membership

    • Valley Strong Credit Union is headquartered in Bakersfield, California and has been serving members since 1940.
    • 18th largest credit union in California, managing $4.12 Billion in assets and serving over 306,000 members,

    Membership: Anyone who lives, works, worships, or attends school in the designated counties.

  • Vantage West Credit Union

    Vantage West Credit Union Membership

    • Vantage West Credit Union is headquartered in Tucson, Arizona and has served members since 1955.
    • 4th largest credit union in Arizona, managing $2.78 Billion in assets and serving over 183,000 members.

    Membership: Open to any person or business who lives, works, worships, attends school, or volunteers in designated geographic areas in Arizona.

  • Vapr Federal Credit Union

    Vapr Federal Credit Union Membership

    • Vapr Federal Credit Union is headquartered in San Juan, PR, and has been serving members since 1950.
    • Manages over $257.3 million in assets and serves over 19,500 members.

    Membership: Be a member of one of the following institutions to be eligible.

  • Venmo Pay / Send & Receive Money

    Brand:Venmo
    • Venmo is a digital wallet that lets you make payments to friends, split the bill, send a gift, and pay businesses.
    • No fees to send or receive money using what’s in your Venmo account or bank account.

     

  • Veridian CU logo

    Veridian Credit Union Membership

    • Veridian Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The 2nd largest credit union in Iowa with assets totaling $4.79 Billion and serving more than 247,000 members.

    Membership: If you live or work for a business located in any county in Iowa or specific counties in Nebraska.

  • Verity Credit Union

    Verity Credit Union Membership

    • Verity Credit Union is headquartered in Seattle, WA, and has been serving members since 1933.
    • Manages over $833.4 million in assets and serves over 37,800 members.

    Membership: Live, work, or worship in the State of Washington.

  • 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.

  • Virginia CU logo

    Virginia Credit Union Membership

    • Virginia Credit Union is a member-owned financial cooperative providing checking, savings, loans, and other financial services.
    • Virginia’s 3rd largest credit union, with assets totaling $4.29 Billion and serving more than 308,000 members.

    Membership: Employees and retirees of partner companies. Live, work, worship, volunteer, or attend schools in select Virginia cities and counties.

  • Visions FCU logo

    Visions Federal Credit Union Membership

    • Visions Federal Credit Union is a community-based financial institution providing savings, checking, loans, and more.
    • The 6th largest credit union in New York with assets totaling $4.95 Billion and serving more than 213,000 members.

    Membership: People living, working, or worshipping in select NY, PA, and NJ counties.

  • Vitelco Employees Federal Credit Union

    Vitelco Employees Federal Credit Union Membership

    • Vitelco Employees Federal Credit Union headquarters is in St Thomas, Virgin Islands and has been serving members since 1979.
    • Manages over $1.69 million in assets and serves over 300 members.

    Membership: Available to employees of select employer groups.

  • Vocal Credit Union

    Vocal Credit Union Membership

    • Vocal Credit Union is headquartered in Helena, MT, and has been serving members since 1954.
    • Manages over $48.5 million in assets and serves over 4,300 members.

    Membership: Lives, works, worships, or attends school in select Montana counties.

  • Vocality Community Credit Union

    Vocality Community Credit Union Membership

    • Vocality Community Credit Union is headquartered in Garberville, California and has been serving members since 1980.
    • Manages $158.39 Million in assets and serves over 9,000 members.

    Membership: You must live, work or worship within a geographic area as explained in the credit union’s Field of Membership.

  • Volt Credit Union

    Volt Credit Union Membership

    • Volt Credit Union is headquartered in Springfield, MO, and has been serving members since 1935.
    • Manages over $88.7 million in assets and serves over 7,800 members.

    Membership: Live or work in the select counties of Southwest Missouri.

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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