Best Credit Unions for September 2024 (2024)

Best Credit Unions for September 2024 (1)

simonkr / Getty Images

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

If you’re looking for a financial institution with low fees, a plethora of banking products and a vast ATM network, a credit union might fit your needs. Credit unions generally provide a more personalized, community approach to banking compared to traditional banks, while incorporating state-of-the-art mobile banking options most people expect today.

Credit unions are known for low fees, friendly service and membership perks. Keep in mind, though, that not every credit union is available to every U.S. consumer. Some have stringent membership requirements based on where you live or work. Others, though, simply require a token donation or membership fee to join.

GOBankingRates evaluated the best credit unions, considering their size and overall financial stability, accessibility, fees and offerings. Keep reading to find out which credit unions made the list.

Best Credit Unions for September 2024

When you’re choosing a credit union, consider what banking needs are most important to you, whether that’s lots of local branches, no-fee checking or high dividends. There is likely an institution on this list of best credit unions that fits the bill.

Best Overall: Alliant

Ranked as the number one credit union by many publications and consumer organizations, Alliant Credit Union is one of the few online-only credit unions. Yet, the organization has an 85-year banking history and is ranked as the 8th largest credit union in the U.S., with assets totaling over $20 billion.

Pros

  • No-fee checking
  • Up to $20 per month in out-of-network ATM rebates for some accounts
  • Open multiple, linked savings accounts to stay focused on your goals
  • High-Rate Savings account has a APY
  • Anyone can join

Cons

  • Minimum $1,000 to open a share certificate
  • No branches
  • No business checking option

Who It’s Best For

Alliant is best for consumers seeking the convenience and low fees of an online bank with the friendly service of a credit union. If you’re looking for high-yield checking and savings, along with credit cards and loan products from the same financial institution, Alliant could be a good choice.

Best for Rewards: First Tech Federal Credit Union

It’s not easy to find savings accounts that deliver more than 3% APY. First Tech Federal Credit Union scores big points for high-yield checking and savings accounts, plus enticing sign-up rewards you might expect from a much larger, traditional bank. The First Tech Rewards Checking and Savings account offers APY to qualified members, as does the Start Up Savings account for kids.

Make your money work for you

Get the latest news on investing, money, and more with our free newsletter.

By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.

Best Credit Unions for September 2024 (5)
Best Credit Unions for September 2024 (6)

Thanks!

You're now subscribed to our newsletter. Check your inbox for more details.

Best Credit Unions for September 2024 (7)

Pros

  • High-yield checking and savings
  • High-yield savings for kids
  • Easy to join

Cons

  • Shared branches through a credit union Co-op
  • Locations in only eight states

Who It’s Best For

First Tech Credit Union is open to individuals who work for one of 900+ partner tech companies, including Amazon and Microsoft, or their household members or family. You can also join as a member of the Computer History Museum or Financial Fitness Association. If you’re looking for high-yield checking and savings with no fees and easy online banking, First Tech could be the right choice for you.

Best for Free Checking and Savings: Bethpage Federal Credit Union

Bethpage Federal Credit Union is a regional credit union that started more than 80 years ago serving Grumman employees and their families on Long Island, NY. Today, anyone can join the credit union with just a $5 savings account deposit. Take advantage of free checking and savings, plus access to over 5,000 shared branch locations and over 30,000 Co-op network ATMs.

Pros

  • Anyone can join
  • Interest-earning checking — when you meet requirements
  • No minimum balance for checking account

Cons

  • $5 minimum to open a new savings account
  • Direct deposit and point-of-sale debit transactions required to earn interest on checking
  • Low rates on share certificates

Who It’s Best For

Bethpage is ideal for anyone seeking free checking and savings accounts with no minimum balance requirements. If you’re looking for a credit union with a large ATM networks and access to shared branches, Bethpage is a solid option.

Best for Military Members: Navy Federal Credit Union

The largest credit union in the U.S. based on asset size, Navy Federal Credit Union provides a host of perks and benefits for qualifying members, including low loan rates, dividend-earning checking accounts, rewards credit cards and more.

Pros

  • No-fee checking
  • No minimum balance requirements
  • Earn dividends on checking and savings balances
  • Wide variety of accounts

Cons

  • Can find higher yield savings elsewhere
  • Not everyone qualifies for an account

Who It’s Best For

Navy Federal Credit Union serves members of all U.S. Armed Forces branches, their families and government contractors. With a wide variety of products, Navy Federal is best for those who want a one-stop shop for their financial service needs.

Best for Credit Cards: Pentagon Federal Credit Union

Pentagon Federal Credit Union, or PenFed, offers tons of benefits to members, including no-fee checking with no minimum balance requirements, a high-yield savings account with a APY, and an array of rewards credit cards to help members manage cash flow. Unlike many credit unions that use the Co-op Network of 30,000 ATMs, PenFed members gain access to more than 85,000 fee-free ATMs through the AllPoint and Co-op Networks.

Pros

  • High-yield savings with dividends
  • Free checking options
  • Overdraft protection
  • Early direct deposit

Cons

  • Dividend-earning checking has a $10 fee (which can be waived)
  • Branches not in every state

Who It’s Best For

Consumers looking for rewards credit cards with no annual fee can find multiple options at PenFed, making it a top choice for people who want their checking, savings and credit cards all with one financial provider.

Best for Car Loans: Boeing Employees Credit Union

GOBankingRates recognized Boeing Employees Credit Union (BECU) as one of the best credit unions for car loans. In addition to low rates for auto loans, the credit union offers free checking with no maintenance fees and no minimum balance, high-yield savings and many other benefits for members.

Pros

  • Competitive auto loan interest rates
  • ATM card for savings account
  • Free checking

Cons

  • Not everyone qualifies for membership
  • Branches only in Washington and South Carolina

Who It’s Best For

With the BECU Reprice Program, your auto loan interest rate could drop as your credit score improves. Combined with low interest rates and easy financing at participating car dealerships, BECU represents a solid choice for qualifying members looking for auto loans on new or used cars.

Best for Personal Loans: Digital Federal Credit Union

Rated one of the best credit unions for personal loans by GOBankingRates in 2024, Digital Federal Credit Union offers loans starting at 11.99% for up to 60 months. But that’s not all DCU has going for it. Enjoy free checking with no minimum balance requirements, a wide range of high-yield savings products and friendly service across New England.

Pros

  • Savings as high as
  • Tax-advantaged HSA checking
  • No minimum balance requirements

Cons

  • Branches limited to New Hampshire and Massachusetts
  • Not everyone qualifies for membership

Who It’s Best For

If you live, work, worship, or attend school in specific counties of New Hampshire or Massachusetts or work for a partner organization, you may qualify. A DCU account is best if you are looking for high-yield savings, low rates on loans and a wide range of banking products.

Best for High CD Rates: America First Credit Union

Just as banks offer CDs for higher savings rates with locked in terms, credit unions offer share certificates to members. America First Credit Union offers certificate rates as high as for short, 3- to 5-month terms, making it one of the best credit unions you can find for high rates. Members enjoy other benefits like low rates on mortgages and home equity loans and dividend-earning checking accounts with overdraft protection.

Pros

  • Dividend-earning checking
  • Wide range of savings options
  • Industry-high certificate rates

Cons

  • Minimum $500 deposit to earn high APY on share certificates
  • Membership largely limited to residents of Southwest or Northwest states

Who It’s Best For

If you live in certain Southwest states (Arizona, Utah, New Mexico, Idaho, Nevada or Oregon) and are looking for a financial services company with a wide range of products, perks and benefits, America First Credit Union could be for you.

Best Nationwide Credit Union: Connexus Credit Union

While many credit unions have broad eligibility requirements not reliant on your location, employment or other limiting factors, Connexus is open to anyone in the U.S. willing to pay a one-time, $5 donation to the Connexus Association. As a member, you’ll gain access to free checking with up to APY in dividend yields if you meet certain criteria, investment services and financial consulting, and an ATM network with more than 67,000 locations.

Pros

  • Access to over 67,000 ATMs
  • Interest earning checking account with no fees
  • Free overdraft transfers with a linked account

Cons

  • Branches only in Wisconsin

Who It’s Best For

Connexus Credit Union is perfect for those looking for nationwide access to free checking with competitive APYs. With over 67,000 ATMs and the option to join for a low one-time donation, Connexus is a great choice for anyone seeking broad accessibility.

Final Take

Whether you’re looking for high-yield savings, low fees or specialized products like car loans and rewards credit cards, these top credit unions offer a range of benefits that can meet your financial needs. With personalized service and competitive rates, there’s likely a credit union on this list that suits you best.

FAQ

Here are the answers to some of the most frequently asked questions about credit unions.

  • What credit union is the highest recommended?
    • Alliant credit union is a digital credit union ranked in one of the top 10 credit unions based on assets. A winner of multiple awards, the credit union is highly recommended by top finance sites, including GOBankingRates.
  • What credit union is paying the highest CD rates?
    • America First Credit Union currently offers 5.25% on share certificates with terms of 3 to 5 months.
  • What are the top five credit unions in the U.S.?
    • Based on asset size, the top five credit unions in the U.S. are Navy Federal, State Employees' Credit Union, Pentagon Federal Credit Union, SchoolsFirst Federal Credit Union and Boeing Employees Credit Union.

GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 5, 2024.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

Best Credit Unions for September 2024 (2024)

FAQs

What is the best credit union in 2024? ›

Best Credit Unions of September 2024
  • Members 1st Federal Credit Union: Best for Overdraft Protection.
  • Connexus Credit Union: Best for Checking Accounts.
  • Bethpage Federal Credit Union: Best for Savings Accounts.
  • Lake Michigan Credit Union: Best for Interest Rates.
  • Alliant Credit Union: Best for Digital Banking.
Aug 30, 2024

What credit union is the highest recommended? ›

Compare the Best Credit Unions
Financial InstitutionWhy We Picked It
Blue Federal Credit UnionBest Overall
Liberty Federal Credit UnionBest for Checking
Alliant Credit UnionBest for a Savings Account
Service Credit UnionBest for Military Individuals & Families
1 more row

What are the top 5 credit unions in the US? ›

The five largest credit unions are Navy Federal Credit Union, State Employees' Credit Union, PenFed Credit Union, SchoolsFirst Federal Credit Union and Boeing Employees Credit Union.

Are credit unions safe during this banking crisis? ›

Greater stability and lower risk

Credit unions and banks are both insured, with most banks being insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per customer. Most credit unions are similarly insured by the National Credit Union Administration (NCUA) for up to $250,000.

Who should I Bank with in 2024? ›

Full List of Best Banks 2023 - 2024
  • Alliant Credit Union.
  • Ally Bank.
  • Axos Bank.
  • Bank of America.
  • Bank5Connect.
  • Barclays.
  • Bethpage Federal Credit Union.
  • Bread Financial.

What is the easiest credit union to get approved for? ›

PenFed is the easiest credit union to join on this list. It doesn't require you to have any specific affiliation to become a member. If you don't meet Alliant's, BECU's or First Tech's traditional membership guidelines, you just need to make a small donation to a partner charity or organization.

What are the top 3 unions? ›

Largest unions
Nameest.Website
National Education Association1857NEA
Service Employees International Union1921SEIU
American Federation of State, County and Municipal Employees1932AFSCME
Teamsters1903teamster.org Teamsters
27 more rows

What is the richest credit union in the United States? ›

Navy Federal Credit Union

Which is safer credit unions or banks? ›

One question that often arises is, "Are Credit Unions Safer than Banks?" If you're looking for a short answer, you'll be happy to know that we're not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000.

What is the downfall of a credit union? ›

Some of the challenges Credit Unions face are not of their own making: pressure to offer 'free' services and apps, like the banks; difficulties with mergers to achieve economies of scale; ongoing decline in the grants, reliefs and financial support available from local councils.

Which banks are in danger of failing? ›

The banks of greatest concern are Flagstar Bank and Zion Bancorporation, according to the screener. Flagstar Bank reported $113 billion in assets with a total CRE of $51 billion. The bank, however, only had $9.3 billion in total equity, making its total CRE exposure 553% of its total equity.

Should I worry about my money in a credit union? ›

The Federal Deposit Insurance Corporation (FDIC) provides insurance for bank deposits, and the National Credit Union Administration (NCUA) does the same for credit unions. Whether you choose a bank or credit union to deposit and hold your money, your funds are generally safe.

What is the number one credit union in the world? ›

SchoolsFirst Federal Credit Union is the largest credit union in California and largest serving school employees in the U.S., and once again Forbes has named SchoolsFirst FCU the top credit union in California.

How many credit unions are there in the US in 2024? ›

The number of federally insured credit unions declined to 4,572 in the first quarter of 2024, from 4,712 in the first quarter of 2023. In the first quarter of 2024, there were 2,862 federal credit unions and 1,710 federally insured, state-chartered credit unions.

Which credit union has the highest savings rate? ›

Our Picks for the Best Credit Union Savings Accounts
Credit UnionSavings Account Star RatingAPY*
First Tech Federal Credit Union4.54.00%
Consumers Credit Union4.33.00%
Alliant Credit Union4.23.10%
Quorum Federal Credit Union4.24.25%
7 days ago

Are credit unions still better than banks? ›

The Bottom Line. Credit unions can be ideal for a low-interest loan, lower mortgage closing costs, or reduced fees, but you'll need to qualify for membership. Larger banks may offer you more choices regarding products, apps, and international or commercial products and services, and anyone can join.

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Greg Kuvalis

Last Updated:

Views: 5549

Rating: 4.4 / 5 (75 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Greg Kuvalis

Birthday: 1996-12-20

Address: 53157 Trantow Inlet, Townemouth, FL 92564-0267

Phone: +68218650356656

Job: IT Representative

Hobby: Knitting, Amateur radio, Skiing, Running, Mountain biking, Slacklining, Electronics

Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.