Can I have a Credit Union Membership?
Yes, credit unions are for everyone, but the law places some limits on the people they may serve, so you can’t just join any credit union you come across. The restrictions also depend on the credit union. In short, they have to limit their offerings to people who have a common bond, or a "field of membership" as they call it. This can be anything from a certain employer, church, school, geographic community or other type of bond which you share with a group of people. Over the years however, the growth of the credit union movement has resulted in nearly everyone being eligible for membership through some connection.
Here's some tips on how to find a credit union to join, courtesy of The Credit Union National Association (CUNA):
- Call your state league. A representative will tell you about credit unions in your area that you are eligible to join. Here's a list of contacts in each state.
- Ask your boss. Your company may sponsor a credit union, or may be a select employee group (SEG) that has access to a credit union. Many employers offer direct deposit of payroll to your credit union.
- Poll your family. Does your spouse's employer sponsor a credit union? Most credit unions allow credit union members' families to join. Each credit union, however, may define "family" differently. At some, only members of your immediate family are eligible. At other credit unions, family may include extended family members, such as cousins, uncles, and aunts.
- Quiz the neighbors. Some credit unions have a "community" field of membership, serving a region defined by geography rather than by employment or some other association. Ask friends in the community if they know of a credit union you may join.
- Read the yellow pages. Some credit unions rarely advertise, so you might not know about them unless you look them up. A yellow pages display ad may state a credit union's field of membership. If not, at least you'll know what number to call to ask about membership eligibility.
- Call them. The Credit Union National Association can help you find a credit union by calling (800) 358-5710. You'll hear an electronic message that includes the name and telephone number of a person at the credit union league in your state who can help you find a credit union to join.
List of Credit Unions
Try the free credit union locator.It lists all credit unions in your area based on either a specified zip code, city and state, or by credit union name. It uses the official Credit Union National Association’s database.