The Best Credit Unions in America
One of the disadvantages of credit unions is the fact that membership in many cases is limited to a select group. This is known in the industry as a credit union’s field of membership. Functionally what this means is that unlike a bank, not everyone can become a member of a given credit union and this is one of the defining differences between a credit union and a bank.
In turn this also means that the various products and services that a credit union offers is limited to a (often select) group of consumers. Therefore, in addition to having to sift through thousands of active credit unions in the United States (or the hundreds available in any state or city), consumers have to hope that their efforts result in credit unions that they are eligible to join.
This was the motivation behind our research effort to compile the list of the 100 best credit unions in America in 2022. We tried to balance quality and rigor with a diverse enough set of credit unions such that the majority of consumers would be eligible to join at least one of the credit unions on the list. In fact there are more than a dozen credit union on this list with eligibility criteria that allows anyone to become a member – these credit unions have been highlighted below.
“Between our screening methods and measurements across 7 categories, we examined the universe of credit unions across more than a dozen metrics,” said David Peterson, co-founder of Bankdash. “The result is one of the most thoroughly assembled rankings of credit unions!”
Table of Contents
Facts About Our List of the Best Credit Unions
The below infographic details 5 facts about our list of the 100 best credit unions:
Best Credit Unions in America in 2022
Here is our list in alphabetical order1:
- Abound Credit Union
- Members: 120,503 | Assets: $2,059 million | Net Worth/Member: $2,581
- Website: http://www.aboundcu.com
- ACIPCO Credit Union
- Members: 8,299 | Assets: $180 million | Net Worth/Member: $3,272
- Website: http://www.acipcofcu.org
- Altra Credit Union
- Members: 128,610 | Assets: $2,258 million | Net Worth/Member: $2,007
- Website: http://www.altra.org
- ANECA Credit Union
- Members: 8,128 | Assets: $180 million | Net Worth/Member: $2,815
- Website: https://aneca.org
- APCO Employees Credit Union
- Members: 72,306 | Assets: $3,711 million | Net Worth/Member: $5,827
- Website: http://www.apcocu.org
- Appletree Credit Union
- Members: 6,620 | Assets: $142 million | Net Worth/Member: $5,008
- Website: http://www.appletree.org
- Arkansas Superior Credit Union
- Members: 9,660 | Assets: $89 million | Net Worth/Member: $1,986
- Website: http://www.asfcu.coop
- Artesia Credit Union
- Members: 8,379 | Assets: $136 million | Net Worth/Member: $2,240
- Website: http://www.artesiacu.org
- Ascend Credit Union
- Members: 244,096 | Assets: $3,788 million | Net Worth/Member: $2,078
- Website: https://ascend.org
- Anyone can join this credit union by becoming a member of the The Nature Conservancy, Tennessee Chapter. The cost to join the TNC is $25.00 and is one-time.
- Austin Telco Credit Union
- Members: 91,410 | Assets: $2,385 million | Net Worth/Member: $3,114
- Website: https://www.atfcu.org
- Baton Rouge Fire Department Credit Union
- Members: 5,735 | Assets: $71 million | Net Worth/Member: $2,264
- Website: https://www.brfdfcu.com/
- BHCU
- Members: 8,769 | Assets: $220 million | Net Worth/Member: $3,233
- Website: http://www.bhcu.org
- Brotherhood Credit Union
- Members: 5,108 | Assets: $116 million | Net Worth/Member: $8,796
- Website: https://brotherhoodcu.org/
- Campus USA Credit Union
- Members: 138,449 | Assets: $2,804 million | Net Worth/Member: $2,413
- Website: http://www.campuscu.com
- Anyone can join this credit union by becoming a member of the Matheson History Museum, which costs $35 a year for an adult and $40 a year for a family.
- Cedar Falls Community Credit Union
- Members: 8,800 | Assets: $178 million | Net Worth/Member: $3,058
- Website: http://www.cfccu.org
- Chevron Credit Union
- Members: 124,246 | Assets: $4,895 million | Net Worth/Member: $4,941
- Website: http://www.chevronfcu.org
- Anyone can join this credit union by becoming a member of either the Financial Fitness Association (costs just $8 a year) or the Contra Costa County Historical Society.
- Citymark Credit Union
- Members: 5,400 | Assets: $94 million | Net Worth/Member: $2,369
- Website: http://www.citymark.org
- Communication Credit Union
- Members: 108,146 | Assets: $1,873 million | Net Worth/Member: $2,098
- Website: http://www.comfedcu.org
- Community First Credit Union
- Members: 149,913 | Assets: $5,102 million | Net Worth/Member: $3,728
- Website: http://www.communityfirstcu.org
- Communitywide Credit Union
- Members: 62,286 | Assets: $675 million | Net Worth/Member: $1,577
- Website: http://www.comwide.com
- Consolidated Credit Union
- Members: 20,499 | Assets: $487 million | Net Worth/Member: $3,121
- Website: https://www.consolidatedccu.com
- Co-Op Credit Union of Montevideo
- Members: 15,684 | Assets: $351 million | Net Worth/Member: $2,809
- Website: http://www.co-opcreditunion.com
- Cottonwood Community Credit Union
- Members: 5,649 | Assets: $156 million | Net Worth/Member: $4,236
- Website: http://www.ccfcu.coop
- Credit Union of America
- Members: 87,749 | Assets: $1,319 million | Net Worth/Member: $1,924
- Website: http://www.cuofamerica.com
- Anyone can become eligible for this credit union by becoming a member of the American Consumer Council, a non-profit dedicated to consumer education, advocacy and financial literacy. It costs $8.00 to join and is open to everyone.
- Dawson Co-Op Credit Union
- Members: 8,811 | Assets: $277 million | Net Worth/Member: $4,710
- Website: http://dawsonco-opcu.com
- Dort Financial Credit Union
- Members: 103,090 | Assets: $1,431 million | Net Worth/Member: $1,915
- Website: http://dortonline.org
- Eastman Credit Union
- Members: 289,076 | Assets: $7,518 million | Net Worth/Member: $2,997
- Website: http://www.ecu.org
- Elevate Credit Union
- Members: 13,636 | Assets: $199 million | Net Worth/Member: $2,844
- Website: http://www.elevatecu.com
- ELGA Credit Union
- Members: 85,340 | Assets: $1,254 million | Net Worth/Member: $1,837
- Website: http://www.elgacu.com
- Anyone can become eligible for this credit union by donating $25 to the Salvation Army Bed and Bread Program.
- Employees Credit Union
- Members: 8,390 | Assets: $139 million | Net Worth/Member: $3,413
- Website: http://www.employeescu.com
- ESL Credit Union
- Members: 405,189 | Assets: $9,244 million | Net Worth/Member: $3,667
- Website: https://www.esl.org/
- Anyone can become eligible for this credit union by joining the George Eastman Museum. The cost of membership for an adult is $40 for a virtual membership, $70 for an individual membership and $95 for a family.
- F&A Credit Union
- Members: 47,291 | Assets: $2,342 million | Net Worth/Member: $6,432
- Website: http://www.fafcu.org
- Firefighters Credit Union
- Members: 5,142 | Assets: $107 million | Net Worth/Member: $3,187
- Website: http://www.myfirecu.org
- Founders Credit Union
- Members: 244,617 | Assets: $3,921 million | Net Worth/Member: $1,898
- Website: https://www.foundersfcu.com
- Genisys Credit Union
- Members: 254,221 | Assets: $4,116 million | Net Worth/Member: $2,481
- Website: http://www.genisyscu.org
- Anyone can become eligible to join this credit union by becoming a member of the Arthritis Foundation or the Paint Creek Center for the Arts.
- Goldenwest Credit Union
- Members: 164,392 | Assets: $2,611 million | Net Worth/Member: $2,022
- Website: http://www.gwcu.org
- Grand Junction Credit Union
- Members: 5,372 | Assets: $86 million | Net Worth/Member: $2,619
- Website: http://www.grandjunctionfcu.org
- Greater Springfield Credit Union
- Members: 11,019 | Assets: $258 million | Net Worth/Member: $3,046
- Website: http://www.grscu.org
- Gulf Coast Educators Credit Union
- Members: 49,203 | Assets: $1,242 million | Net Worth/Member: $3,383
- Website: http://www.gcefcu.org
- Homeland Credit Union
- Members: 23,229 | Assets: $548 million | Net Worth/Member: $3,684
- Website: www.homelandcu.com
- Houston Police Credit Union
- Members: 31,774 | Assets: $955 million | Net Worth/Member: $4,051
- Website: http://www.hpcu.coop
- Hudson Valley Credit Union
- Members: 323,321 | Assets: $6,405 million | Net Worth/Member: $2,297
- Website: http://www.hvcu.org
- Kemba Financial Credit Union
- Members: 121,966 | Assets: $1,923 million | Net Worth/Member: $1,839
- Website: http://www.kemba.org
- Kimberly Clark Credit Union
- Members: 10,532 | Assets: $131 million | Net Worth/Member: $2,788
- Website: http://www.kimberlyclarkcu.org
- Lafayette Credit Union
- Members: 51,339 | Assets: $1,426 million | Net Worth/Member: $4,504
- Website: http://www.lfcu.org
- Anyone can become eligible to join this credit union by becoming a member of the Home Ownership Financial Literacy Council, a non-profit that focuses on providing tools to help consumers navigate the path to home ownership. Membership costs a one-time fee of $10.
- Lincoln County Credit Union
- Members: 5,581 | Assets: $161 million | Net Worth/Member: $5,387
- Website: http://www.lincolncountycu.com
- Lincoln Maine Credit Union
- Members: 6,121 | Assets: $104 million | Net Worth/Member: $1,870
- Website: http://www.lincolnmainefcu.com
- Logix Credit Union
- Members: 226,187 | Assets: $9,022 million | Net Worth/Member: $5,399
- Website: http://www.logixbanking.com
- Anyone can become eligible to join this credit union by becoming a member of the American Consumer Council, a non-profit dedicated to consumer education, advocacy and financial literacy. It costs $8.00 to join and is open to everyone.
- MAC Credit Union
- Members: 16,014 | Assets: $176 million | Net Worth/Member: $1,637
- Website: http://www.macfcu.org
- Marshall Community Credit Union
- Members: 14,671 | Assets: $314 million | Net Worth/Member: $3,314
- Website: http://www.marshallcommunitycu.com
- Members First Community Credit Union
- Members: 7,185 | Assets: $85 million | Net Worth/Member: $2,639
- Website: http://membersfirstccu.com
- Mobiloil Credit Union
- Members: 70,990 | Assets: $1,074 million | Net Worth/Member: $1,813
- Website: http://www.mobiloilcu.org
- Mon Valley Community Credit Union
- Members: 9,440 | Assets: $176 million | Net Worth/Member: $4,582
- Website: http://www.mvcfcu.com
- NCPD Credit Union
- Members: 16,129 | Assets: $955 million | Net Worth/Member: $8,166
- Website: http://ncpdfcu.org
- NAHEOLA Credit Union
- Members: 11,079 | Assets: $167 million | Net Worth/Member: $2,535
- Website: http://www.naheola.com
- NASA Credit Union
- Members: 207,408 | Assets: $3,749 million | Net Worth/Member: $2,068
- Website: http://www.nasafcu.com
- Anyone can become eligible to join this credit union by becoming an associate member of the National Space Society. Membership costs $10 per year.
- Navy Army Community Credit Union
- Members: 211,869 | Assets: $4,179 million | Net Worth/Member: $2,259
- Website: http://www.navyarmyccu.com
- Navy Federal Credit Union
- Members: 11,423,451 | Assets: $160,441 million | Net Worth/Member: $1,554
- Website: www.navyfcu.org
- NEBO Credit Union
- Members: 13,417 | Assets: $131 million | Net Worth/Member: $1,583
- Website: http://www.nebocreditunion.org
- Nebraska Energy Credit Union
- Members: 11,783 | Assets: $347 million | Net Worth/Member: $4,016
- Website: http://www.ne-fcu.org
- Neches Credit Union
- Members: 72,943 | Assets: $860 million | Net Worth/Member: $1,694
- Website: http://www.nechesfcu.org
- Northern Skies Credit Union
- Members: 11,806 | Assets: $175 million | Net Worth/Member: $1,699
- Website: http://www.nsfcu.org
- Oklahoma Credit Union
- Members: 10,953 | Assets: $174 million | Net Worth/Member: $2,389
- Website: http://www.okfcu.com
- Oklahoma’s Credit Union
- Members: 50,327 | Assets: $730 million | Net Worth/Member: $1,808
- Website: http://www.okcu.org
- PAHO/WHO Credit Union
- Members: 8,136 | Assets: $291 million | Net Worth/Member: $5,483
- Website: http://www.pahofcu.org
- PCM Credit Union
- Members: 13,672 | Assets: $363 million | Net Worth/Member: $3,192
- Website: http://www.pcmcu.org
- Pioneer Mutual Credit Union
- Members: 9,901 | Assets: $246 million | Net Worth/Member: $2,918
- Website: http://www.pioneeronline.org
- Police & Fire Credit Union
- Members: 415,950 | Assets: $7,793 million | Net Worth/Member: $3,019
- Website: http://www.pffcu.org
- Qualstar Credit Union
- Members: 69,875 | Assets: $811 million | Net Worth/Member: $1,609
- Website: http://www.qualstarcu.com
- Robins Financial Credit Union
- Members: 243,050 | Assets: $4,051 million | Net Worth/Member: $2,452
- Website: http://www.robinsfcu.org
- San Joaquin Power Employees Credit Union
- Members: 6,513 | Assets: $152 million | Net Worth/Member: $3,902
- Website: http://www.sjpecu.org
- Self Reliance NY Credit Union
- Members: 14,819 | Assets: $1,515 million | Net Worth/Member: $16,432
- Website: http://www.selfrelianceny.org
- Self-Help Credit Union
- Members: 90,430 | Assets: $1,797 million | Net Worth/Member: $3,059
- Website: http://www.self-helpfcu.org
- Anyone can become eligible to join this credit union by becoming a member of the credit union’s nonprofit, the Center for Community Self-Help. Becoming a member of the nonprofit costs a one-time fee of $5.00, and that’s it.
- Seven Seventeen Credit Union
- Members: 101,212 | Assets: $1,411 million | Net Worth/Member: $1,951
- Website: http://www.717cu.com
- Signet Credit Union
- Members: 18,848 | Assets: $335 million | Net Worth/Member: $2,829
- Website: http://www.signetfcu.com
- SJP Credit Union
- Members: 6,803 | Assets: $122 million | Net Worth/Member: $1,943
- Website: http://sjpfcu.org
- Skyward Credit Union
- Members: 17,976 | Assets: $417 million | Net Worth/Member: $3,239
- Website: https://www.skywardcu.com
- Anyone can become eligible to join this credit union by becoming a member of the Kansas Aviation Museum. Membership costs $50 for adult non-students and $75 for one household which includes two adults (in the same household) and dependent children and grandchildren under 18.
- Star One Credit Union
- Members: 117,450 | Assets: $11,057 million | Net Worth/Member: $10,725
- Website: http://www.starone.org
- Sterling Credit Union
- Members: 9,632 | Assets: $213 million | Net Worth/Member: $3,189
- Website: http://www.sterlingcreditunion.org
- Summit Credit Union
- Members: 227,353 | Assets: $4,919 million | Net Worth/Member: $2,546
- Website: http://www.summitcreditunion.com
- Synergy Credit Union
- Members: 11,709 | Assets: $314 million | Net Worth/Member: $3,720
- Website: http://www.synergyfcu.org
- Technology Credit Union
- Members: 157,232 | Assets: $4,155 million | Net Worth/Member: $2,911
- Website: http://www.techcu.com
- Anyone can become eligible to join this credit union by becoming a member of the Financial Fitness Association (which costs $8 a year to join and is open to anyone) is eligible to join the credit union.
- Telcoe Credit Union
- Members: 22,791 | Assets: $449 million | Net Worth/Member: $4,139
- Website: http://www.telcoe.com
- TelComm Credit Union
- Members: 22,718 | Assets: $249 million | Net Worth/Member: $1,585
- Website: http://www.telcommcu.com
- Texasgulf Credit Union
- Members: 14,120 | Assets: $180 million | Net Worth/Member: $1,608
- Website: http://www.texasgulffcu.org
- The United Credit Union
- Members: 6,505 | Assets: $110 million | Net Worth/Member: $3,805
- Website: http://www.tufcu.org
- Three Rivers Credit Union
- Members: 110,978 | Assets: $1,970 million | Net Worth/Member: $2,198
- Website: http://www.3riversfcu.org
- Tidemark Credit Union
- Members: 18,587 | Assets: $462 million | Net Worth/Member: $3,004
- Website: http://www.tidemarkfcu.org
- Trona Valley Community Credit Union
- Members: 23,984 | Assets: $336 million | Net Worth/Member: $1,618
- Website: http://www.tronavalley.com
- Tulsa Teachers Credit Union
- Members: 145,510 | Assets: $2,615 million | Net Worth/Member: $2,321
- Website: http://www.ttcu.com
- TVA Community Credit Union
- Members: 19,143 | Assets: $414 million | Net Worth/Member: $3,022
- Website: http://www.tvaccu.com
- Utah Power Credit Union
- Members: 28,566 | Assets: $968 million | Net Worth/Member: $4,207
- Website: http://www.utahpowercu.org
- Utilities Employees Credit Union
- Members: 46,438 | Assets: $1,394 million | Net Worth/Member: $4,495
- Website: http://www.uecu.org
- Veridian Credit Union
- Members: 286,872 | Assets: $5,975 million | Net Worth/Member: $2,291
- Website: http://veridiancu.org
- Visions Credit Union
- Members: 233,806 | Assets: $5,627 million | Net Worth/Member: $2,596
- Website: www.visionsfcu.org
- Westby Co-Op Credit Union
- Members: 38,870 | Assets: $777 million | Net Worth/Member: $3,030
- Website: http://wccucreditunion.coop
- Whitefish Credit Union
- Members: 61,309 | Assets: $2,138 million | Net Worth/Member: $4,025
- Website: http://www.whitefishcu.com
- Wichita Credit Union
- Members: 12,518 | Assets: $161 million | Net Worth/Member: $2,007
- Website: http://www.wichitafcu.com
- Wings Financial Credit Union
- Members: 333,811 | Assets: $7,919 million | Net Worth/Member: $2,836
- Website: http://www.wingsfinancial.com
- Wings Financial Credit Union is also the best Minnesota credit union.
- Wright-Patt Credit Union
- Members: 455,792 | Assets: $7,204 million | Net Worth/Member: $1,733
- Website: http://wpcu.coop
Our Methodology for the Best Credit Unions
An important selection criteria for us from the outset was stability. Credit Unions operate the same way that banks do and although the National Credit Union Administration (NCUA) provides an important level of protection for customers and their deposits, having a credit union that you are a member of enter conservatorship or face liquidation is a terrifying possibility. Therefore from the outset we limited our list to credit unions that satisfied the following criteria:
- Credit Union Age: at least 3 years. We believe newer credit unions are by definition riskier.
- Credit Union Membership: at least 5,000 members. Members are the lifeblood of every credit union and scale matters in financial services for many reasons including stability. We believe this level of members provides the credit union with necessary critical mass.
- Net Worth Ratio: at least 10%. This corresponds approximately to the median net worth ratio across all active federally insured credit unions in the United States.
- Net Worth Per Member: at least $1,500. This corresponds approximately to the average net worth per member across all active federally insured credit unions in the country.
Specifically for the last two criteria, we think the net worth of a credit union is one of the most important measures as it is the cumulative value created by the credit union since inception and is net of dividends. As members have effective ownership of a credit union, this is an important statistic to assess how well a credit union has done its job of creating value for its members. But specifically to the question of stability, we found during our research that in 7 out of the 9 cases2 of credit unions entering conservatorship or facing liquidation over the past 3 years, the median net worth ratio3 and net worth per member4 were both negative. In fact, of the 7 cases the highest net worth ratio was 6.6% and the highest net worth per member was $225. Having a strong net worth position as measured not just by the net worth ratio but on a per member basis, we believe is an important measure of stability. After applying our exclusion criteria we graded each credit union in the following areas:
- Accessibility – how many branches are available to members (credit union members highlighted this as being important during our March Survey)? Online banking and mobile application capability is also a part of our measure of accessibility.
- Account Fees – what services does the credit union offer and how much do they cost?
- Community – does the credit union have a track record of giving back to its community?
- Dividends – how have members benefited from dividends?
- Membership Trends – does the credit union have critical mass of members and has its membership base been growing over the years?
- Member Engagement – how much have members deposited at the credit union?
- Operational Strength – how much net worth has the credit union generated over the years, how does that compare per member to other credit unions? How efficiently is the credit union operated relative to other credit unions.
We selected these 7 areas by balancing what consumers have indicated is important to them when selecting a credit union (customer service, fee transparency, rates and technology) with operational and financial metrics.
Footnotes:
1Data is as of March 31, 2022
2The two excluded cases involved management misconduct, not credit union performance.
3Median net worth ratio was -3.9%.
4Median net worth was -$103