Top 10 Best Credit Unions in Washington State of 2023

If you’re looking for a great financial institution in Washington State, credit unions might be a perfect choice. Credit unions are known for their member-focused services, lower fees, and competitive interest rates. We’ve compiled a list of the top 10 best credit unions in Washington State, along with their pros and cons, to help you make an informed decision.

Brief overview of credit unions

Credit unions are not-for-profit, member-owned financial institutions that provide a wide range of financial products and services, such as savings accounts, loans, and credit cards. They are known for their personalized, community-focused approach, lower fees, and competitive interest rates.

Top 10 Best Credit Unions in Washington State

Selecting the right credit union can help you save money, access better loan products, and enjoy a better overall banking experience. Below is the list of the 10 best credit unions in Washington State, including their pros and cons, to help you make an informed decision.

1. BECU (BOEING EMPLOYEES’ CREDIT UNION)

Founded in 1935, BECU is the largest credit union in Washington State, originally established to serve Boeing employees. Today, it serves a broader membership base.

 Pros:

• Largest credit union in Washington State
• Offers a wide range of products and services
• Competitive interest rates 4. Access to over 30,000 surcharge-free ATMs

 Cons:

• Membership limited to select employer groups and geographic areas
• Limited branch locations

2. WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU)

Established in 1957, WSECU was founded by state employees and now serves all Washington State residents.

Pros:

• Open to all Washington State residents
• Extensive range of products and services
• Mobile and online banking options
• Access to shared branching network

 Cons:

• Limited branch locations
• Some fees might be higher than other credit unions

3. SPOKANE TEACHERS CREDIT UNION (STCU)

Founded in 1934 by educators, STCU is a community-focused credit union that serves residents of Washington and North Idaho.

Pros:

• Community-focused and open to residents of Washington and North Idaho
• Competitive loan and savings rates
• Free checking account options
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Membership limited to select employer groups and geographic areas

4. GESA CREDIT UNION

This credit union was Established in 1953, Gesa Credit Union originally served the employees of the General Electric Supply Corporation but has since expanded its membership eligibility.

Pros:

• Open to all Washington State residents
• Offers a variety of products and services
• Competitive interest rates
• Access to over 30,000 surcharge-free ATMs

 Cons:

• Limited branch locations
• Some account fees might be higher than other credit unions

5. SALAL CREDIT UNION

Established in 1948, Salal Credit Union started as a financial institution for Group Health Cooperative employees and now serves all Washington State residents.

Pros:

• Open to all Washington State residents
• Offers a variety of products and services
• Competitive loan and savings rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some fees might be higher than other credit unions

6. NUMERICA CREDIT UNION

Founded in 1937, Numerica Credit Union serves Washington and North Idaho residents.

Pros:

• Open to residents of Washington and North Idaho
• Offers a wide range of products and services
• Competitive interest rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some account fees might be higher than other credit unions

7. HARBORSTONE CREDIT UNION

Founded in 1955, Harborstone Credit Union has grown to serve all Washington State residents.

Pros:

• Open to all Washington State residents
• Offers a variety of products and services
• Competitive loan and savings rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some fees might be higher than other credit unions

8. SOUND CREDIT UNION

Established in 1940, Sound Credit Union was initially founded to serve the employees of Tacoma City Light and now serves all Washington State residents.

Pros:

• Open to all Washington State residents
• Offers a wide range of products and services
• Competitive interest rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some account fees might be higher than other credit unions

9. TWINSTAR CREDIT UNION

Founded in 1938, TwinStar Credit Union began as a teachers’ credit union and now serves all Washington State residents.

Pros:

• Open to all Washington State residents
• Offers a variety of products and services
• Competitive loan and savings rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some fees might be higher than other credit unions

10. INSPIRUS CREDIT UNION

Established in 1936 as a credit union for educators, Inspirus Credit Union now serves all Washington State residents.

Pros:

• Open to all Washington State residents
• Offers a variety of products and services
• Competitive loan and savings rates
• Access to a large network of surcharge-free ATMs

Cons:

• Limited branch locations
• Some fees might be higher than other credit unions

The Benefits of Banking with the Best Credit Unions in Washington State

Credit unions have gained popularity among consumers seeking an alternative to traditional banks. In Washington State, many people choose to bank with credit unions due to their numerous benefits. Here are some of the key advantages of banking with the best credit unions in Washington State:

1. Personalized Service: Credit unions are known for their community-focused approach and commitment to providing personalized service to their members. As member-owned institutions, credit unions place a higher emphasis on catering to the needs of their members, which can result in a more satisfying banking experience.
2. Lower Fees: One of the main attractions of credit unions is their generally lower fees compared to traditional banks. This can include reduced or eliminated fees for services such as checking accounts, ATM usage, and overdraft protection. The savings from lower fees can add up over time, making credit unions an appealing choice for cost-conscious consumers.
3. Competitive Interest Rates: Credit unions often offer better interest rates on savings accounts, checking accounts, and loans. This is because credit unions are not-for-profit organizations and can return profits to their members in the form of better rates. As a result, members can potentially earn more on their deposits and pay less on loans.
4. Member Ownership and Influence: Credit unions are owned by their members, meaning each member has a say in the institution’s decision-making process. This democratic approach allows members to influence policies, interest rates, and even elect the board of directors. This sense of ownership and control is a unique benefit of banking with a credit union.
5. Community Focus: Credit unions are often deeply ingrained in their local communities. They invest in local initiatives, support charities, and provide financial education programs to help improve the economic well-being of their members and the community. You keep your local community’s growth and development by banking with a credit union.
6. Financial Education and Support: Many credit unions prioritize financial education and offer resources, workshops, and counseling to help members improve their financial literacy. This added support can be invaluable for members looking to manage their finances better, reduce debt, or save for the future.
7. Access to a Network of Credit Unions: Most credit unions participate in a shared branching network, which allows members to access their accounts and conduct transactions at other credit unions within the network. This can provide added convenience and flexibility when traveling or moving to a different location.

In summary, banking with the best credit unions in Washington State offers a range of benefits, including personalized service, lower fees, competitive interest rates, member ownership and influence, community focus, financial education, and access to a network of credit unions. By joining a credit union, you can enjoy these advantages while supporting your local community.

Joining the Best Credit Unions in Washington State: What You Need to Know

Credit unions offer numerous benefits to their members, including personalized service, lower fees, and competitive interest rates. If you’re considering joining one of the best credit unions in Washington State, here’s what you need to know:

1. Membership Eligibility: Unlike traditional banks, credit unions have specific membership requirements. These requirements can be based on factors such as your employer, geographic location, or affiliation with a particular group or organization. Be sure to research the membership criteria for the credit union you’re interested in joining to ensure eligibility.
2. Product and Service Offerings: Credit unions offer a wide range of financial products and services, such as savings accounts, checking accounts, loans, and credit cards. However, not all credit unions offer the same products and services. Make sure to explore the offerings of each credit union to find one that best meets your financial needs.
3. Accessibility: When choosing a credit union, consider the availability of branch locations and ATMs. Some credit unions have limited physical branches but may provide access to a shared branching network or a large network of surcharge-free ATMs. Additionally, consider the quality of their digital banking services, such as online banking and mobile apps, for added convenience.
4. Financial Stability: Credit unions are regulated and insured by the National Credit Union Administration (NCUA), ensuring that your deposits are safe up to $250,000. However, it’s still essential to research the financial stability of the credit union you plan to join, as a financially stable institution is more likely to offer competitive rates and continue providing excellent service.
5. Reputation and Customer Satisfaction: Research its reputation and customer satisfaction before joining a credit union. Read online reviews, ask for recommendations from friends or family, and consider reaching out to current members to gain insights into their experiences with the credit union.
6. Application Process: Once you’ve chosen a credit union that meets your needs, you can typically apply for membership online, over the phone, or in person at a branch. The application process usually involves providing personal information, such as your name, address, Social Security number, and proof of eligibility. You’ll also need to open a share account, which typically requires a small initial deposit.

Conclusion

This guide provides an overview of the top 10 credit unions in Washington State, highlighting their pros and cons to help you make an informed decision. When selecting a credit union, consider factors such as membership eligibility, product and service offerings, interest rates, fees, branch and ATM accessibility, and digital banking features. It’s essential to research and compare credit unions before committing to one.

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