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Credit Unions With Easy Membership Requirements

Pros and Cons of Credit Unions

When Should you Bank With a Credit Union Over a Bank?

FAQs

Why You Should Trust Us

• Credit Unions With Easy Membership Requirements
• Pros and Cons of Credit Unions
• When Should you Bank With a Credit Union Over a Bank?
• FAQs
• Why You Should Trust Us

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• Some credit unions let you join online from anywhere in the U.S.
• To become a member, give a small donation to a foundation or open a savings account.
• You'll prefer a credit union over a traditional bank if you want to earn a higher interest rate.

Credit unions require membership to open a bank account or utilize services. Usually, you'll have to work for a select employer or live in a specific city or county.

However, some credit unions have pretty easy membership requirements that you let join from anywhere in the U.S.

If you're open to banking with a credit union over a bank, we've put together a list of available credit unions for every consumer so you can join a credit union with open membership.

Credit Unions With Easy Membership Requirements

1. Affinity Plus Federal Credit Union

Affinity Plus Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free savings, checking, certificate, and money market account options
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low or no minimum opening deposits
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pays high interest rates on certificates and money market account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Rewards program
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No non-sufficient funds fees; no overdraft fees if you withdraw by under $100

Cons

• con icon Two crossed lines that form an 'X'. Low interest rate on savings
• con icon Two crossed lines that form an 'X'. Compounds dividends monthly, not daily
• con icon Two crossed lines that form an 'X'. $15 overdraft fee
• con icon Two crossed lines that form an 'X'. No overdraft protection if you withdraw by over $100

Affinity Plus Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 29 branches in Minnesota
• Non-Minnesota residents can still open accounts online
• 60,000+ free ATMs in the MoneyPass, Co-op, and SUM networks
• MyPlus Rewards program gives you points for spending money on your APFCU debit and credit cards, maintaining a certain amount of money in your accounts, and taking out loans
• Redeem points in categories such as travel, cash back, donating to charities, and reducing your loan interest rates
• Dividends compound monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Affinity Plus Federal Credit Union pays high interest rates on its money market account and CDs. It also has a rewards program that lets you earn points if you keep a certain amount of money in your account or use a bank credit card.

Membership requirements: The easiest way to join Affinity Plus Federal Credit Union is to donate $25 to the Affinity Plus Foundation and open a savings account.  Affinity Plus Federal Credit Union has 26 branches in Minnesota and has additional ways to become a member if you live or work in the state.

2. Alliant Credit Union

Alliant Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks

High interest rates on savings account and CDs with low minimum opening deposits

Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rates on savings account and CDs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposits
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Interest-earning checking account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Reimburses up to $20 in out-of-network ATM fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees

Cons

• con icon Two crossed lines that form an 'X'. No money market accounts

Insider’s Take

Alliant is one of the best credit unions out there, especially if you want to earn high interest rates on savings, checking, and certificates.

Alliant Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• Online bank with no physical branch locations
• Access to 80,000 free ATMs nationwide
• Interest on interest-earning accounts compounds monthly
• NCUA insured

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Alliant Credit Union has high-interest savings and checking accounts with low minimum opening deposits. 

Membership requirements: You'll be able to become a member of Alliant Credit Union if you join Foster Care to Success, a non-profit organization focused on foster youth (Alliant covers the $5 joining fee). You'll also be able to join the credit union if you live in certain parts of Illinois or work at an eligible employer.

3. Bethpage Federal Credit Union

Bethpage Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Open accounts at a branch or online from anywhere in the US
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large free ATM network
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member (just open a savings account with $5)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rates on checking, certificate, and money market accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Doesn’t charge out-of-network ATM fees

Cons

• con icon Two crossed lines that form an 'X'. Only branches are in New York State
• con icon Two crossed lines that form an 'X'. Low interest rate on savings account
• con icon Two crossed lines that form an 'X'. No free overdraft protection ($5 fee for transferring money from savings)
• con icon Two crossed lines that form an 'X'. Doesn’t refund any fees charged by out-of-network ATM providers

Insider’s Take

Bethpage Federal Credit Union is on our list of the best credit unions. It's a good option if you want to earn high interest rates on checking, certificate, or money market accounts. It pays a low interest rate on the savings account, so you may either want to save with the money market account instead or consider a different bank.

Bethpage Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 32 branches around New York State
• Non-New York residents can still open accounts online
• 5,000 shared branches and 30,000 shared ATMs in the Co-op network
• Become a member by opening a savings account with $5
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Bethpage Federal Credit Union pays high interest rates on checking, certificate, and money market accounts. The certificates are especially appealing if you're looking for an institution with a low minimum opening deposit — you'll only need $50 to open one.

Membership requirements: Bethpage Federal Credit Union lets you join online from anywhere in the U.S., as long as you open a savings account with at least $5.

4. Blue Federal Credit Union

Blue Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank online, visit branches in Colorado and Wyoming, or visit shared branches around the US
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pays high interest rates on certificates
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Checking account offers unique perks like roadside assistance and ID theft aid
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection through Protect-a-Check

Cons

• con icon Two crossed lines that form an 'X'. Interest compounds monthly, not daily
• con icon Two crossed lines that form an 'X'. Poor mobile app ratings
• con icon Two crossed lines that form an 'X'. $30 overdraft fee

Blue Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 20 branches in Colorado and Wyoming
• You can also open accounts online from around the US
• 30,000 shared branches and 5,000 free ATMs in the Co-op network
• The easiest way to become a member is to donate $5 to the Blue Foundation; you’ll also qualify if you work for a Select Employee Group or one of several armed forces groups
• Dividends compound daily
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Blue Federal Credit Union pays solid rates on certificates. The credit union also offers 24/7 live customer service, which is ideal if traditional banking hours don't work for you.

Membership requirements: The easiest way to join is by donating $5 to the Blue Foundation and opening the Blue Federal Credit Union Membership Share Savings Account with another $5. However, if you live in Colorado or Wyoming, you also may qualify if you meet another membership requirement.

5. Connexus Credit Union

Connexus Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rates
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several overdraft protection options

Cons

• con icon Two crossed lines that form an 'X'. Branches are only available in Illinois, Minnesota, and Wisconsin
• con icon Two crossed lines that form an 'X'. High minimum opening deposit for certificates
• con icon Two crossed lines that form an 'X'. Interest compounded monthly or quarterly, not daily

Insider’s Take

Connexus Credit Union is featured in our best credit unions guide. It's an excellent choice if you'd like to bank with an online credit union, and it pays competitive interest rates on its accounts.

Connexus Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 15 branches in Illinois, Minnesota, and Wisconsin
• 5,000 shared branches in the Co-op network; 67,000+ free ATMs in the Co-op and MoneyPass networks
• To become a member, be an employee, retiree, family member, members, student, or student alum of certain companies and organizations; live in certain counties or cities in Illinois, Ohio, Minnesota, or Wisconsin; be a family member, household member, or spouse of existing Connexus member; or join the Connexus Association with $5
• Dividends compounded monthly or quarterly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Connexus Credit Union pays competitive interest rates on all of its accounts. The Connexus Xtraordinary Checking Account is a solid choice if your priority is finding a high-yield checking account.

Membership requirements: Connexus Credit Union lets you join online from anywhere in the U.S. if you make a $5 donation to the Connexus Association. If you or a family member live in Minnesota, Ohio, or Wisconsin, see if you meet one of the credit union's other membership requirements.

6. Consumers Credit Union

Consumers Credit Union Start banking On Consumers Credit Union's website Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Membership is open to anyone in the US (pay a $5 membership fee)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Immigrants and non-US citizens may be eligible to join
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free rewards checking account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive interest rates on CDs and checking
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposits on all accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees

Cons

• con icon Two crossed lines that form an 'X'. Branches only available in specific cities in Illinois
• con icon Two crossed lines that form an 'X'. Low interest rates on savings account
• con icon Two crossed lines that form an 'X'. Interest compounded monthly, not daily

Insider’s Take

You'll find Consumers Credit Union appealing if you enjoy online banking or live near Chicago, Illinois. The credit union has one of the best high-yield checking accounts right now, with a low minimum opening deposit and zero monthly fees.

Consumers Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 15 branches in Chicago, Illinois, and surrounding areas; you can also open accounts online from anywhere in the US
• 5,000 shared branches and 30,000 free ATMs in the Co-op network
• To join, pay a one-time membership fee and open the Consumers Credit Union Membership Share Savings Account with at least $5
• Dividends compounded and paid monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Consumers Credit Union has a unique high-yield checking account that pays you a high interest if you meet the requirements. Its bank accounts have low minimum opening deposits. Customer support is also available 24/7 through live chat.

Membership requirements: Anyone in the U.S. can become a member of Consumers Credit Union online. Just pay a one-time $5 membership fee and open a savings account.

If you're an immigrant or not a U.S. citizen, Consumers lets you use a Matricula Consular ID or permanent resident card instead of a U.S. government ID to open an account. This makes it a good choice as a credit union for immigrants and U.S. non-citizens.

7. Credit Human Federal Credit Union

Credit Human Federal Credit Union Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High rates on several CDs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Well-rated checking and savings accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large free ATM network
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large shared branch network
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Well-rated mobile app

Cons

• con icon Two crossed lines that form an 'X'. Some monthly service fees, depending on account
• con icon Two crossed lines that form an 'X'. Low interest rate on money market account
• con icon Two crossed lines that form an 'X'. High minimum opening deposit for money market account

Product Details

• Over 5,000 shared branches nationwide
• Over 55,000 ATMs through Allpoint network
• To become a member, you can either live, work, worship, or attend school in San Antonio or New Orleans, be an employee at certain workplaces, be a veteran, retiree, active duty member, or dependent of a member of the U.S. Army or National Guard, be related to or live with a credit human member, or join the American Consumer Council as a U.S. Resident (free if you join through Credit Human)
• Interest compounds daily and is deposited monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Credit Human Federal Credit Union offers some of the best CD rates of any financial institution for several CDs, including for 18-month CD rates and 4-year CD rates.

Membership requirements: You can easily join Credit Human by becoming a member of the American Consumer Council. It's free to join the association on Credit Human's account application — Credit Human will cover the fee. You can also join Credit Human if you work for select employers, live, work, worship, or attend school in San Antonio or New Orleans, are a veteran, retiree, active duty member, or dependent of a member of the U.S. Army or National Guard, or you're related to or live with a Credit Human member. 

8. Dow Credit Union

Dow Credit Union Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. checking account offers interest
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rate on several CDs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large ATM network
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Well-rated mobile app
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly fees

Cons

• con icon Two crossed lines that form an 'X'. Does not offer live customer service on weekends
• con icon Two crossed lines that form an 'X'. only in-person branches are in Michigan

Product Details

• Two branches in Michigan
• Over 800,000 free ATMs nationwide through its own ATMs and the CO-OP and Alliance One networks
• Customer service on Monday through Friday, from 7:00 am ET through 6:00 pm ET
• Interest compounds quarterly and is deposited quarterly, except for CDs, where it’s compounded and deposited monthly
• NCUA insured

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Dow Credit Union offers CDs with very high interest rates, such as 3-month CD rates and 3-year CD rates. It also offers a checking account with interest, if you're looking for a checking account that will let you earn money off of your funds.

Membership requirements: Anyone who's part of the Midland Area Community Foundation can join. You can become a member of the foundation by donating $10 to the Multipliers for Good fund. Otherwise, members of specific groups, people who work for select employers, and people who are related to or share a household with a current member can join.

9. Hope Credit Union

Hope Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Black-led credit union
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank with a company that gives back to local communities
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High-yield checking account

Cons

• con icon Two crossed lines that form an 'X'. Only available in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
• con icon Two crossed lines that form an 'X'. Dividends compounded quarterly, not monthly or daily

Hope Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• Black-led credit union with 23 branches in Arkansas, Louisiana, Mississippi, and Tennessee
• 5,000 shared branches and 30,000 free ATMs in the Co-op network
• Certified as a community development financial institution (CDFI)
• To become a member, pay the $10 membership fee
• Dividends compounded quarterly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Hope Credit Union is a Black-owned financial institution that gives back to local communities in certain parts of Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. It has solid savings and checking accounts that don't have monthly service fees.

As a Juntos Avanzamos designated credit union, Hope Credit Union lets you use a permanent resident card, foreign passport, or Matricula Consular if you don't have a U.S. ID. You'll also be able to use an ITIN number instead of a social security number. If you plan on using an alternative ID, you'll have to apply in person instead of online, though.

Membership requirements: Hope Credit Union lets you join online if you pay a $10 membership fee. 

10. Latino Community Credit Union

Latino Community Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.75/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Credit union that serves a Hispanic American community
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Open an account online from anywhere in the US
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposits across accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive CD rates compared to other brick-and-mortar banks
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. $2 overdraft protection

Cons

• con icon Two crossed lines that form an 'X'. Branches and ATM network only in North Carolina
• con icon Two crossed lines that form an 'X'. Online banks offer higher interest rates on savings accounts
• con icon Two crossed lines that form an 'X'. Monthly service fees
• con icon Two crossed lines that form an 'X'. Interest isn't compounded on CDs

Latino Community Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• Hispanic American-led credit union with 15 branches in North Carolina
• Access 1,300 free ATMs through the CashPoints network
• Open accounts online from anywhere in the US
• To become a member, join the Latino Community Development Center with a one-time $8 membership fee; then open a savings account with $10
• Dividends compounded daily on most accounts, but not compounded at all on certificates
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Latino Community Credit Union is a Hispanic American-led financial institution that provides financial literacy education and bilingual services to local communities in North Carolina. You can also open an account online from anywhere in the U.S. It has savings and checking accounts with low minimum opening deposits.

Membership requirements: If you don't live in North Carolina, you can still apply online by submitting an application and paying a $10 membership fee.

11. NASA Federal Credit Union

NASA Federal Credit Union Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High certificate rates
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Multiple types of checking, certificate, and money market accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free savings account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Early direct deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection

Cons

• con icon Two crossed lines that form an 'X'. Low savings rate
• con icon Two crossed lines that form an 'X'. Dividends compounded monthly, not daily
• con icon Two crossed lines that form an 'X'. Fees on checking and money market accounts (option to waive)
• con icon Two crossed lines that form an 'X'. $32 overdraft fee

Product Details

• 14 branches in Maryland and Virginia
• Shared branches and free ATMs in the Co-op network
• You’re eligible for membership if you’re affiliated with NASA in a number of ways; or NASA FCU will provide a complimentary 1-year membership to the National Space Society, which qualifies you for membership
• Dividends compounded monthly, paid monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: NASA FCU's strongest products are its CDs. It pays high interest rates, especially on 9-month and 15-month terms.

Membership requirements: The credit union provides you with a complimentary 1-year membership to the National Space Society, which makes you eligible to join.

12. Pentagon Federal Credit Union

Pentagon Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Higher interest rate on savings accounts and share certificates than other accounts at brick-and-mortar financial institutions
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Interest earned on your checking account balance
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. CD terms longer than five years

Cons

• con icon Two crossed lines that form an 'X'. Other online banks may offer higher interest rates on savings accounts or CDs
• con icon Two crossed lines that form an 'X'. Interest compounded monthly, not daily
• con icon Two crossed lines that form an 'X'. Must qualify to earn interest on your checking account balance
• con icon Two crossed lines that form an 'X'. Low interest on money market account
• con icon Two crossed lines that form an 'X'. Monthly fees for the checking account (possible to waive them)
• con icon Two crossed lines that form an 'X'. $1.50 out-of-network ATM fee

Insider’s Take

If you prefer a credit union over a bank, Pentagon Federal Credit Union is a good choice. It's one of the best credit unions out there, and it's easy to become a member regardless of where you live in the US. You'll also earn a higher interest rate with Pentagon Federal Credit Union bank accounts than with the average bank account. However, other online banks may still offer more competitive interest rates.

Pentagon Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• Around 50 branches in California, Florida, Georgia, Hawaii, Maryland, Nebraska, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, Texas, Virginia, and DC
• Branches on military bases in Guam, Puerto Rico, and Japan
• Around 85,000 free ATMs in the US
• You're eligible for membership if you have served in the military or work at qualifying associations or organizations; or simply open a savings account with a $5 minimum deposit
• Dividends compounded monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Pentagon Federal Credit Union pays competitive interest rates on its savings account and CDs. You also may like it if you're part of a military family.

Membership requirements: The easiest way to become a part of Pentagon Federal Credit Union is by opening a savings account with at least $5. You're also eligible for membership if you've served in the military or work at a select employer.

13. Premier Members Credit Union

Premier Members Credit Union Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.25/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rates on money market account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Interest-earning checking account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection

Cons

• con icon Two crossed lines that form an 'X'. Pays low interest rate on savings; certificate rates are so-so
• con icon Two crossed lines that form an 'X'. $32 overdraft fee
• con icon Two crossed lines that form an 'X'. Compounds interest monthly, not daily

Product Details

• 17 branches and 4 student branches in Colorado
• 5,000 shared branches and 30,000+ free ATMs in the Co-op network
• There are several ways for Colorado residents to become members; or become a member by joining Impact on Education, a charity in the Boulder Valley School District, and opening a savings account online
• Dividends compound monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Premier Members Credit Union has a strong money market account. It earns a competitive interest rate and doesn't have monthly service fees.

Membership requirements: While Premier Members Credit Union is based in Colorado, you're still eligible for membership if you join Impact on Education, a charity in the Boulder Valley School District, and open a savings account online. If you live in Colorado, check if you live in an eligible county or work at a select employer.

14. Quorum Federal Credit Union

Quorum Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to qualify for membership
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several types of checking, savings, and term accounts available
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pays high rates on certain accounts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Most accounts have no monthly fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Doesn't charge a fee for 10 out-of-network ATM withdrawals each month

Cons

• con icon Two crossed lines that form an 'X'. After initial 10 out-of-network ATM withdrawals each month, Quorum charges $2 per withdrawal
• con icon Two crossed lines that form an 'X'. Doesn't reimburse any fees charged by out-of-network ATM providers
• con icon Two crossed lines that form an 'X'. Overdraft fees as high as $37
• con icon Two crossed lines that form an 'X'. Interest compounds monthly, not daily

Insider’s Take

Quorum Federal Credit Union may be a smart choice if you're looking for a no-fee, high-interest savings account or term account. Quorum's term accounts are similar to CDs and come with nine term options. Quorum is featured in our best CD rates guide, but depending on the term, you can find higher rates elsewhere.

Quorum Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• No physical branches
• 90,000 free ATMs through MoneyPass ATMs, Allpoint ATMs, and ones at many CVS and Walgreens locations
• To become a member, be an employee of a Select Employee Group-affiliated company (or the family member of someone who is) or a member of the American Consumer Council or Select Savers Clubs; it's free to join the ACC, and Quorum will cover the $5 cost for a lifetime membership with the SCC
• Dividends compound monthly
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Quorum Federal Credit Union pays high interest rates on term accounts (what it calls CDs), and it has a high-yield savings account.

Membership requirements: The easiest way to join is to either become a member of the American Consumer Council or Select Savers Club when you fill out a Quorum FCU application. You can join the ACC for free. Although the SCC requires $5 to join, Quorum will cover the cost for you.

15. Signature Federal Credit Union

Signature Federal Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive interest rates on high-yield checking accounts, money market accounts, and share certificates
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free transfers from another account for overdrafts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Many account types and terms to choose from, including reward-earning ones

Cons

• con icon Two crossed lines that form an 'X'. Low interest rates on savings accounts
• con icon Two crossed lines that form an 'X'. Customer service only available 9 a.m. to 5 p.m. weekdays
• con icon Two crossed lines that form an 'X'. Many accounts have transaction and withdrawal limits
• con icon Two crossed lines that form an 'X'. Overdraft fee is $30 if you don’t have another SFCU account to transfer funds from

Signature Federal Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• Open accounts online; you must open a Signature FCU Savings Account to become a member
• Over 5,000 shared branches in the Co-op network; tens of thousands of free ATMs combined in the Co-op and CULIANCE networks
• To join, be an immediate family/household member of an existing Signature FCU member; be a U.S. Postal Service postmaster, postmaster relief, supervisor, or officer in charge; be a Marymount University Alumni Association member or employee; be an employee of an approved organization; or join the American Consumer Council for $8 per year
• Dividends compounded monthly for checking, money market, and certificate accounts; compounded quarterly for savings account
• Federally insured by the NCUA

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Why it stands out: Signature Federal Credit Union has a high-yield checking account that pays a great rate on balances up to $20,000.

Membership requirements: The easiest way to become a member of Signature Federal Credit Union is by joining the American Consumer Council for $8 per year. Membership is also open to employees for certain companies; Marymount University Alumni Association members or employees; U.S. Postal Service postmasters, postmasters relief, supervisors, or officers in charge; or immediate family and household members of existing Signature FCU members.

16. Wings Credit Union

Wings Credit Union Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Annual Percentage Yield (APY)

Varies depending on account

Minimum Opening Deposit

Varies depending on account

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to become a member of the credit union and bank online
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pays high interest rates on checking account and certificates
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Multiple overdraft protection options
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. 10 free out-of-network ATM withdrawals per statement cycle

Cons

• con icon Two crossed lines that form an 'X'. Branches are available only in Florida, Georgia, Michigan, Minnesota, and Washington
• con icon Two crossed lines that form an 'X'. High minimum opening deposit for money market account
• con icon Two crossed lines that form an 'X'. No debit card, ATM card, or check-writing included with the money market account
• con icon Two crossed lines that form an 'X'. Interest compounded monthly or quarterly, not daily
• con icon Two crossed lines that form an 'X'. $30 overdraft fee
• con icon Two crossed lines that form an 'X'. After reaching your limit of 10 free out-of-network ATM withdrawals per month, $2.50 fee per withdrawal

Insider’s Take

Wings Credit Union is one of the best credit unions out there. It offers many types of bank accounts, including high-yield checking and savings accounts. You'll like Wings if you meet the requirements for at least one of the high-yield bank accounts.

Wings Credit Union review External link Arrow An arrow icon, indicating this redirects the user." Product Details

• 29 branches in Florida, Georgia, Michigan, Minnesota, and Washington
• Over 80,000 free ATMs in the Allpoint, MoneyPass, and Co-op networks
• Become a member when you or a family member work in the aviation industry or live in an eligible county/metro area; or join by donating $5 to the Wings Financial Foundation
• Dividends compounded quarterly for balances under $100,000 and monthly for balances of $100,000 or more
• Federally insured by the NCUA

Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.

Why it stands out: Wings Credit Union offers high-yield savings and checking accounts. If you meet the bank account requirements for one of these two accounts, you'll earn a high rate.

Membership requirements: The easiest way to join Wings Credit Union is to donate $5 to the Wings Financial Foundation. However, if you or a family work in the aviation industry or live in an eligible county or metro area, you also might be eligible.

Pros and Cons of Credit Unions

Are you still mulling whether a credit union is right for you? Here are some of the main pros and cons to consider.

Pros of Joining a Credit Union

• Earn high interest rates. Credit unions typically offer higher interest rates than traditional brick-and-mortar banks. However, with online banks, it might be more of a toss-up since interest rates are similar.
• Fewer monthly service fees. Many of the credit unions featured on our list have bank accounts with zero monthly maintenance fees. At a traditional brick-in-mortar bank, you may need to keep a certain amount in your account each month or meet distinct requirements to waive the fee. Meanwhile, online banks might not charge any monthly fees.
• Additional member perks. Some credit unions have rewards programs. For instance, Affinity Plus Credit Union has a rewards program that lets you earn points if you keep a certain amount of money in your account or use a bank credit card. Points can be spent on gift cards, travel, or even donating to charities.

Cons of Joining a Credit Union

• Limited locations. Ultimately, your experience will vary depending on where you live. If you don't live near a branch location, you'll have to be comfortable with online and mobile banking. Otherwise, it may be a struggle to manage your account. 
• Fewer products and services. Some credit unions offer limited account options. If you want more variety in your account options, a brick-and-mortar bank or online bank is likely a better choice.

When Should you Bank With a Credit Union Over a Bank?

You should choose a credit union over a bank if you find specific accounts or services that are ideal for your goals. Many of the credit unions featured have high-yield bank accounts, so if you find an account that matches what you're looking for, you won't feel like you're compromising because there are fewer products and services. 

You also might want to choose a credit union if you struggle with traditional banking services or requirements. Some credit unions offer 24/7 live customer service. Other institutions featured allow you to use a foreign ID or ITIN number if you aren't a U.S. citizen.

Credit Union FAQs

What are credit unions that anyone can join, and how do they differ from traditional banks? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Credit unions are non-profit financial institutions designed to give any profits they earn back to members, whereas traditional banks generally earn profit for shareholders. Most credit unions limit who can join by workplace or geographical area, but universal membership credit unions give all U.S. citizens a way to become a member.

How can I join a credit union that's open to everyone? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

The specific way you'll join a credit union that's open to everyone will depend on the individual credit union, but one common method is by asking you to make a small donation to join a group or association. Usually, the donation is around $5 to $10.

Are there any specific benefits to joining a credit union that's open to all? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Joining a nationwide accessible credit union will let you experience many of the perks of credit unions — better rates and lower requirements for loans, for instance — without limiting yourself to only being able to bank in a specific area.

Can I join a credit union if I have a poor credit history? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Yes, many credit unions are more flexible than banks and understand poor credit history, so several credit unions provide easy access to membership. Credit unions usually offer services and financial education resources geared toward helping members improve their credit scores and overall financial health.

Do credit unions that anyone can join offer online and mobile banking services? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

You'll want to check with the individual credit union you're interested in to know for sure, but most credit unions that anyone can join do offer online and mobile banking services.

Why You Should Trust Us: How We Reviewed Credit Unions That Anyone Can Join

At Business Insider, we use our bank account rating methodology to review banks and credit unions. We rate financial institutions from zero to five stars, and we factor in aspects like a financial institution's ethics, rates, customer service, mobile app ratings, ATM networks, and fees, among others, when rating. When rating credit unions, we rate each account offered by the credit union and average their scores, along with the bank's trustworthiness rating, to find the credit union's rating as a whole.

Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

• Bank accounts
• Savings and CD rate trends
• Budgeting
• Saving
• How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon. Read more Read less Kit Pulliam Personal Finance Insider editorial fellow Kit Pulliam (they/them) is a banking expert who specializes in certificates of deposit, savings accounts, and checking accounts. They’ve been reporting, editing, and fact-checking personal finance stories for more than four years.ExperienceKit has spent their career making complicated concepts more accessible to the average person. As a tutor in math and reading comprehension after college, they melded the certainty of numbers with the flexibility of words, a skill that has served them in the personal finance field since. Before Business Insider, Kit was an editorial specialist for Tax Analysts, diving into the tax code to help readers get the best information about a confusing but necessary subject.They find banking similar to taxes in that way: There are some things everyone needs to know because just about everyone needs to work with a bank — and you don’t want to end up with an account that doesn’t serve your needs.As interest rates change, they enjoy the fast pace of reviewing rates for products like CDs and high-yield savings, which can change daily and have a direct impact on readers’ money.ExpertiseTheir expertise includes:

• Certificates of deposit
• Savings accounts
• Checking accounts
• CD rates
• Bank reviews

EducationKit is an alumnus of Vanderbilt University, where they studied English and psychology and received the Jum C. Nunnally Honors Research Award for their senior thesis.Outside personal finance, Kit enjoys reading, film, video games, and cross stitching. They are based in the DC area. Read more Read less Top Offers From Our Partners Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start Banking

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.

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