Choosing the right banking situation not only helps to secure financial stability but also ensures you’re getting the most bang for your buck. You can choose from a wide range of brick and mortar banks, online banking solutions, and credit unions to find the best fit for your situation. Credit unions are particularly popular because they are not-for-profit businesses that are able to pass along better savings and loan terms compared to most big banks. If you’re looking for the best credit union in Austin, Texas, you’ve come to the right place. We’ll break down the best credit unions that offer high savings rates, excellent business and personal loan terms, and financial perks in the Austin area.
The Best Credit Unions in Austin
University Federal Credit Union
With more than 200,000 members and 2 billion dollars in assets, UFCU is one of the best credit unions to handle your finances. The credit union works closely with the local community by helping individuals manage their money and through DoGood programs that give back through philanthropic events.
The credit union mainly serves universities and educational staff, which is reflected in their commitment to offering members knowledge and classes for financial well-being. These educational events include things as simple as writing checks and making deposits to buying a home, insuring property, and making savvy investments.
Their Money Market account is especially useful as members earn an extra .20% APY simply by making 10 checking transactions each month. That includes everything from paying your monthly bills to writing birthday checks and making purchases with the account debit card.
A+ Federal Credit Union
A Plus FCU is an Austin credit union with a focus on helping community members become financially successful. The credit union was started more than 60 years ago by a small group of teachers who were looking for a better way to manage money. Today, the credit union offers checking and savings accounts as well as home loans, vehicle loans, and investment opportunities.
Their PlusPoints program offers financial rewards for dividends and transactions made with the Cash-Back checking account. You’ll even get a few extra points during your birthday month and for every year of membership. Once you accrue 2,500 points, you can use the points to lower the interest rates on new loans or increase your rate of return on IRA certifications. You can also secure lower real estate fees and it’s easy to rack up points since there are so many different ways to earn points.
Austin Telco Federal Credit Union
Being a member at Austin Telco doesn’t just get you great interest rates and savings potential, you’ll also get great discounts to Austin’s attractions including SeaWorld and Schlitterbahn. The credit union offers a wide range of services from home equity loans and mortgage loans to checking accounts and insurance. Many of the financial services including home insurance and auto loans can be applied for online using an E-signature so you don’t have to sit in traffic and head to a local branch. If you do want to go to an office to speak with a financial advisor, you can choose from 24 locations across the greater Austin area including the Hays, Bastrop, and Travis areas.
Greater Texas Federal Credit Union
The Greater Texas credit union is a financial co-op that offers several different types of checking accounts including student checking, minor checking, and business accounts across Austin including the Williamson and Cedar Park areas. The financial institution also offers a range of loans and investment services as well as credit counseling. Credit counseling is particularly useful for individuals who have credit card debt or poor credit and are looking for ways to boost their financial health. As a member of the Greater Texas FCU, you’ll also get discounts for TurboTax, Six Flags, used car inspections, and roadside services.
United Heritage Credit Union
The United Heritage Credit Union treats members like neighbors and prides itself on providing top-notch, friendly service to the greater Austin area. You’ll speak to a live, local person every time you call and with more than 30,000 ATMs, it’s always easy to get access to your funds. In addition to standard banking offers such as checking and savings accounts, the credit union offers loans, insurance, and investment opportunities. Their website also offers excellent financial advice and tools to help you get started when it comes to your financial well-being.
Randolph-Brooks Federal Credit Union
The RBFCU offers a host of financial services from checking accounts to investment opportunities. Members receive a cash-back credit card that earns 2% back on all purchases with no annual fee. Their banking accounts also feature overdraft protection and identity theft coverage. In addition, members can get auto loans, home loans, and FHA or VA loans with low rates. If you’re looking at investing, RBFCU enables members to schedule appointments with accredited financial advisors who can help make the best choices for wealth management.
Amplify Credit Union
Formerly known as IBM Texas Employees Credit Union, Amplify Credit Union has been helping local Austinites manage their money since 1967. The credit union has eight different branch locations, making it easy to stop in if you have questions or need to make changes to your account. Amplify offers a free checking account without any fees or balance requirements. As opposed to most financial institutions, you won’t have any monthly service fees or required minimum balances. You can open a checking account with just $25 and you’ll receive a free debit card and access to in-person, online, and mobile banking.
In addition to checking and savings accounts, this bank offers retirement planning, investment assistance including analyses for online trading, and funding for education. Credit union members also get access to certified financial planners who can help them manage their money most effectively.
Velocity Credit Union
Velocity Credit manages more than 800 million in assets for more than 75,000 members. Velocity offers members home equity loans with rates as low as 3.99 APR as well as retirement services and better rates compared to most banks. Members enjoy free checking accounts, top-notch credit cards, loans for anything you can think of, and secure investment options. Online and mobile banking are quick and easy while there are also six branch locations across central Texas.
Velocity also has a Youth Club, which aims to get individuals 17 and under on the right track to financial stability. The program requires $5 to open a checking account and rewards young members with swag like sunglasses, water bottles, and gift cards when they reach certain savings milestones.
Save For Your Future At These Top-Notch Credit Unions
When you’re looking for the best credit union in Austin, it’s important to have all the facts. If you’re looking for information on regulation, supervision, and financial support services when it comes to credit unions, check out the National Credit Union Administration. The NCUA is a credit union oversight and federal insurance body that is similar to the FDIC. Their website offers a wealth of information that can help you select the best credit union for your financial needs.
There is no shortage of options when it comes to selecting the best credit union in Austin, Texas. Most of these credit unions offer free checking accounts as well as low minimum balances and additional services from loans to investments. Make sure to do your homework and visit a few credit unions to find the best one for you.
