Credit unions offer membership based on community, workplace, or organization, with some allowing unrestricted membership. They typically have lower fees than banks and can pay out dividends. Consider location, online services, and branch availability when choosing a credit union. In late 2025, there were 145 million credit union members in the US.

Credit unions are not-for-profit institutions owned by members, historically with shared common bonds. Membership eligibility requirements vary, with some credit unions now having more permissive rules. When choosing a credit union, check eligibility requirements to find the best fit and highest rates. Some credit unions offer additional financial products like loans, credit cards, and investments.

All credit union members are shareholders, receiving profits as dividends. Research interest rates on savings accounts to find the best returns. Credit unions emphasize personalized service and community involvement. Compare credit unions to banks to see advantages like member ownership and competitive rates. Ensure credit unions are insured by looking for NCUA insurance signs.

To ensure a credit union has good financial standing, choose an institution with NCUA insurance, and review call reports for detailed financial information. The largest credit union in the US is Navy Federal Credit Union, with over 14 million members and $190 billion in assets. Consider your financial goals and needs when choosing a credit union for the best fit and highest rates.

Read more at Yahoo Finance: How to choose the best credit union: 6 things to consider