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Learn About Credit Unions

Credit Union & Bank Interest Rate Comparison
In general, credit unions offer higher savings rates, meaning that your money grows faster, and lower rates on loans, meaning that you will owe less over the lifetime of the loan.
Credit Unions in Schools
Referred to as a student credit union, in-school credit union branches provide a unique and hands-on way for youth to take control of their money and financial future.
Federally Versus Privately Insured Credit Unions
Federally-chartered credit unions are regulated by the National Credit Union Administration and insured by the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the United States government.
Find a Credit Union in Your Area
Once you select a specific credit union, you can view more details about that credit union, including contact information, branch locations, services offered, and recent financial statements.
Historical Timeline of Credit Unions
As not-for-profit depository institutions, credit unions were created to serve members as credit cooperatives.
How Credit Unions Differ From Banks
In the United States, credit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits.

Is a Credit Union Right for Me?
Because credit unions are not-for-profit financial institutions, their focus is serving the financial needs of their members and not making a profit.
Join a Credit Union
Anybody can join a credit union. Each credit union serves what’s called their “field of membership” – that’s the commonality between the members.
Learn More About Your Credit Union
NCUA makes financial information about credit unions available to the public through Financial Performance Reports (FPRs).
Low Income Credit Unions
Credit unions provide valuable access to financial services for people underserved and unserved by traditional financial institutions.
Start a Credit Union
If your group is eligible, NCUA's staff will assist you with preparing an application for a charter and see that your group receives guidance in getting your federal credit union started.
What is a Credit Union?
A federal credit union is a cooperative financial institution chartered by the federal government and owned by individual members.
What To Do If Your Credit Union Closes
View information regarding what to expect in the event that your credit union closes, and NCUA's process for returning your funds.

Protect Your Finances

Buying A Car
It's important to know how to make a smart deal. Your credit union can discuss car loan options with you.
Consumer Protection Update
Watch the latest NCUA Consumer Protection Update video to learn about important updates and changes that may affect you as a consumer."
Credit Reports & Credit Scores
It’s a good idea to monitor your credit report on a regular basis to make sure that the information is accurate. You can also verify that no one has stolen your identity to make fraudulent charges.
Dealing with Debt
Bill payer services, or debt consolidation services, can help consumers preserve their credit scores by merging debts and establishing a workable schedule to pay down money owed to creditors through a single monthly payment.
Fraud Prevention Center
Learn how to recognize common scams, take action if you think you are a victim of fraud, and what you can do to protect your finances from fraud.
Home Ownership & Mortgage Options
Once you are ready to buy a home, consult your credit union about competitive interest rates and to find out about your mortgage options, including the term of the loan and the conditions.
Mortgage Modifications
NCUA encourages credit unions to work constructively with residential mortgage borrowers who may be unable to meet their contractural payment obligations.
Online Financial Safety Tips
When performing transactions on your credit union's website, it's wise to make sure that the website is legitimate and that your deposits are federally insured.
Payday Loans
Payday loans (a.k.a. deferred advance loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit check loans) are loans borrowers promise to repay from their next paycheck or salary deposit.

Payday Loan Alternatives
To provide credit union members with an alternative to high-cost payday loans, federal credit unions offer small-dollar loans called payday alternative loans (PALs).
Paying off Credit Cards
Read your statement carefully for information about how long it would take to pay off your account balance if you only pay the minimum payment. It can take years, even decades, to pay it off.
Preparing for Retirement
Between longer life expectancies and fewer employers offering traditional pension plans, it's a good idea to take an active role in planning for retirement.
Prevent Identity Theft
If you believe that someone has stolen your identity, you should contact any credit union, bank or creditor where you have an account that you think may be the subject of identity theft.
Saving for College
Whether you are saving for your own education or for your children’s, it’s wise to start planning for college as soon as possible.
Scams Targeting Older Adults
America's growing older adult population is vulnerable to a broad range of financial crimes. In this section, NCUA provides tips on how older adults can protect themselves from fraud.
Share Insurance Coverage
Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000, per individual depositor.
Tips for Young Adults
Credit unions offer young adults desirable, affordable financial services, as well as the advantage of personal service developed to help them grow their savings. Many credit unions offer services within schools or have student-run branches.
Understand Your Privacy Rights
Federal privacy laws give you the right to stop (opt out of) some sharing of your personal financial information. The law permits your financial companies to share certain information about you without giving you the right to opt out.

Financial Tools and Resources

Brochures and Publications
These brochures and publications may be linked, downloaded, or printed.
Calendar of Events
View a listing of upcoming events, designations, and opportunities for each month.
College Scorecard
Plan your entire financial aid packages online for all of the schools that you are considering.
Consumer Loan Calculator
Explore your consumer loan, including the effect of adjusting number of payments, principal and interest rate on your monthly payment.
Consumer Resources
Use these references and tools to make better informed financial decisions.
FAQs - Find an Answer
Locate answers in the Knowledge Base to a wide variety of frequently asked questions.
Games & Activities
Test your financial knowledge with these games and activities for all ages.
Glossary
Become an educated consumer by taking the mystery out of commonly used financial terms.

Graphics
These graphics may be linked, downloaded, or printed.
Lesson Plans & Resources
Educators and parents can use these plans and resources to teach youth, tweens, and teens about saving, spending, budgeting, and the value of money.
Mortgage Loan Calculators
Compare monthly payments and the amount of equity you would build with several kinds of fixed and adjustable rate mortgages.
Personal Budgeting Worksheet
Take a close look at your income and expenses with this helpful worksheet that can identify where you might have room to save.
Savings & Retirement Calculator
Get estimates based on your actual Social Security earnings record with this calculator.
Share Insurance Estimator
Are your deposits insured? Find out with NCUA’s electronic Share Insurance Estimator.
Videos
View NCUA's Consumer Report and Consumer Protection Update videos on current financial hot topics.
Webinars
View NCUA’s financial literacy webinar series covering current hot topics, best practices, resources, and more for consumers and credit unions.

Consumer Assistance Center

Pocket Cents

Youth
Have you ever thought about why money is worth anything? It's just paper and ink, or a small piece of stamped metal. To do a lot of things we need to use money. Money can give you choices and independence. Have you ever thought about how you could earn your own money? Or, how much money you should you save? The way you manage your money could determine if are able to buy food, a movie ticket, a pair of jeans, just about everything. Learn about the history of money, why we use it, how to save it, and how to protect it.
Teens and Tweens
You may be thinking about your first checking or savings account, your first job, or even your first car. Soon, you will have the opportunity to pursue your dreams. You could go to college, launch your career, or start a business. No matter what you decide, you will need money to make it happen. It's never too early to learn smart financial habits. Whether saving a portion of a weekly allowance or understanding the deductions on the pay stub from a first job, good money management skills can last a lifetime. In this section, you will not only learn how to prepare financially for life after high school, but also how to avoid scams and common money mistakes.
Young Adults
Are you prepared to make wise and informed financial decisions? Do you know how to recognize predatory credit offers? Can you balance a checkbook? Do you have a savings plan? Smart financial choices you make today could help you can achieve that new car purchase, or sail through an apartment lease or mortgage application. However, money mistakes when you're just starting out can leave you in debt and ruin your credit score. Learn how to live within a budget, handle credit and debt, and build a solid financial foundation for your future.
Parents And Educators
How do you teach kids about money? It may be as simple as talking about your job, taking a trip to the grocery store, or opening a savings account at a credit union to deposit allowance and birthday money. The bottom line is that it’s never too early to start teaching children smart financial habits and the value of money. Educating, motivating, and empowering kids to become regular savers will enable them to keep more of the money they earn. Whether at home or in the classroom, this section will provide you with the tools and resources to teach kids how to grow into financially responsible adults. The reward could mean a life free from the anxieties of debt.
Older Adults
Did you know that older adults account for almost 30% of all fraud victims? Whether you are looking for information for yourself or for a loved one, in this section you will learn how to defend against these scams, as well as, find information on reverse mortgages, prepaid funerals, emergency savings, and long-term care. Additionally, you will find articles that will help with money management, post-retirement planning, and maximizing government benefits.
Marriage and Family
You may have a retirement account. But, do you really know how much you should be saving? Do you budget to save, and not just when you have extra money left over in your paycheck? Have you thought about saving for college? Does your family have an emergency fund? Anyone can learn how to save money and invest in their future. In this section, you will learn how to take control of your financial future, including how to defend against fraud and scams, tips on buying a car or home, how to handle credit and debt, and information about credit reports.
Servicemembers
Are you financially ready? Servicemembers and military families face unique financial challenges, whether on active duty, returning to civilian life, or living as a veteran. In recent years, servicemembers have joined the ranks of those who are considered most vulnerable to predatory lenders and identity theft. Most military families today are not saving adequately for retirement, and many do not have an emergency fund. In this section, you will learn how to protect yourself from financial vulnerabilities, as well as, how to budget, save, and handle debt and credit. Additionally, learn about free financial resources, benefits, and special protections offered by the U.S. government for servicemembers and their families.

Share Insurance Coverage

IS MY MONEY SAFE IN A CREDIT UNION?

Credit unions encourage their members to save regularly to build economic security for themselves and their families.

Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF). Like the FDIC's Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.

The NCUSIF insures member savings in federally insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF protection, and not one penny of insured savings has ever been lost by a member of a federally insured credit union.

This toolkit provides a variety of helpful resources for consumers to better understand insurance coverage on their deposits at NCUA federally insured credit unions. For additional questions about NCUA’s share insurance coverage, call 1-800-755-1030, Option 2 or send an email.

SHARE INSURANCE TOOLKIT FOR CONSUMERS

Is My Credit Union Federally Insured and How Do I Know?

To determine if your credit union is federally insured, you can use our Research a Credit Union tool located here.

Do I have to pay for share insurance? As a member of a federally insured credit union, you do not pay directly for your share insurance protection. Your credit union places a deposit into the NCUSIF and pays an insurance assessment based on the total amount of insured shares and deposits in the credit union.

How do you know if your credit union is federally insured? All federally insured credit unions must prominently display the below official NCUA insurance sign at each teller station and where insured account deposits are normally received in their principal place of business and in all branches. Federally insured credit unions are also required to display the official sign on their Internet page, if any, where they accept deposits or open accounts. A credit union may not end its federal insurance without first notifying members.

What Does NCUA Share Insurance Cover? Visit one of the below to find out more on your insured funds at an NCUA’s federally insured credit union.

Share Insurance Estimator

Calculate the amount of your insured funds at a federally insured credit union using NCUA’s Share Insurance Estimator. The estimator can be used for personal, business, or government accounts. Personal accounts include individual ownership, joint ownership, payable-on-death (accounts with named beneficiaries), living trusts, and IRAs. The Estimator also includes an extensive Glossary of Terms and Frequently Asked Questions.

Share Insurance Videos

View three videos illustrating NCUA’s share insurance coverage.

Share Insurance Overview

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Share Insurance Estimator

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Share Insurance Account Ownership Types

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Share Insurance Publications

View, print, or download one of the below NCUA Share Insurance publications (in English or in Spanish).

How Your Accounts Are Federally Insured
this two page pamphlet is easy to follow and highlights the basic share insurance coverage provided by NCUA for various account types.

English

Spanish

Your Insured Funds
This multi-page booklet provides a more in-depth look at NCUA’s Share Insurance coverage and includes examples to help you understand the protection provided.