3 Simple Steps: How do I Join a Credit Union?
Editor’s Note: This blog was originally published on September 8, 2020, and has been updated for accuracy and relevancy.
Unlike banks, credit unions are communities. They’re known for their friendly employees, warm hospitality, and outstanding rates on loans and deposit accounts.
Because of the amazing service that credit unions offer, it’s easy to assume that membership is extremely exclusive.
This is not the case, however!
Step 1: Find Your Nearest Credit Union
BE SURE YOU’RE IN THE FIELD OF MEMBERSHIP
Joining a credit union is easy.
Most credit unions accept members based on location, typically within a radius of a few counties. You also qualify for membership if your family member meets the eligibility requirements.
Membership, for example, at Frontier Community Credit Union is open to those who live, work, or worship in the following Kansas counties:
Atchison County
Brown County
Doniphan County
Douglas County
Franklin County
Jackson County
Jefferson County
Johnson County
Leavenworth County
Miami County
Osage County
Shawnee County
Wyandotte County
Some credit unions are a bit more niche, however, and only accept members in both a certain radius and certain professions.
There are credit unions that specifically tailor to teachers, first responders, medical personnel, those in select military branches, etc.
For these credit unions, the member must live within a certain area but also work the field that the credit union is based on.
Let’s use the Frontier Community Credit Union example again to paint the picture. Part of Frontier’s field of membership includes active or retired military and Federal Civil Service personnel who reside within a 100-mile radius of Fort Leavenworth, Kansas.
Step 2: Apply and Become a Member for Life
The wonderful thing about credit unions is that when you join, you become a member for life! This means that if you move, switch professions, etc., you are still able to keep your membership. That’s the #CreditUnionWay.
WHAT YOU NEED TO KNOW BEFORE APPLYING TO JOIN A CREDIT UNION
To join a credit union, all you have to do is visit the website of the one you qualify for. Many websites have an online application you can fill out.
Once you get accepted, you will then be asked to deposit a minimum of $5.00 into your checking account, also known as your share draft account.
These $5.00 signify your ownership in the credit union (That’s right, you OWN a part of the credit union).
Step 3: Call, Apply Online, or Visit in Person to Apply
If you would not like to apply electronically, you can email or call the credit union and set up an appointment to talk about membership in person with a representative.
Credit unions are there to serve you.
Ditch being a bank customer, or keep your account open to compare and become a credit union member TODAY.
You may also enjoy reading…
