5 Credit Unions Providing Service In The Midwest
For those tired of being tied to the corporate tactics and relatively high rates of commercial banks, credit unions stand as a worthy financial alternative. The ones listed here serve states throughout the Midwest, ensuring that members can receive the services and economic security they desire. This video was made with Ezvid Wikimaker.
5 Notable Midwest Credit Unions
|Blackhawk Community Credit Union||Janesville, Wisconsin|
|Michigan State University Federal Credit Union||East Lansing, Michigan|
|SIU Credit Union||Carbondale, Illinois|
|Hoosier Hills Credit Union||Bedford, Indiana|
|SouthPoint Financial Credit Union||Sleepy Eye, Minnesota|
The Values of SouthPoint
Quick Tips for Being Frugal
- Make a budget and plan expenses in advance
- Keep track of your daily spending habits
- Reduce your usage of water and electricity
- Maintain an emergency fund
- Save up by storing money in an adult piggy bank
- Cancel services you no longer use
- Think of prudent alternatives, e.g., cooking instead of eating out, or making a gift instead of purchasing one
How Credit Unions Differ From Banks
Credit unions are gaining in popularity as an option for those who seek to disengage from commercial banks. Banks often charge higher rates and are beholden to private investors and corporate directives, whereas credit unions are community-based and driven by their membership. If you have a home or business in the Midwest and are looking for an alternative to banks, consider these credit unions listed here in no particular order.
Starting at #1, we have Blackhawk Community Credit Union, a not-for-profit, cooperative institution formed to help its members save, borrow, and obtain financial services. Those eligible for membership include all people living, working, owning property, or going to school in qualified counties in Wisconsin and Illinois, as well as their family members. Businesses located in those counties, or where 51% of its owners qualify can also join as well.
Blackhawk Community Credit Union values early learning and financial literacy in the communities it serves. It adheres to this philosophy through credit union branches in the two Janesville High Schools. The branches are staffed by students who operate during lunch hours. Blackhawk Community Credit Union also participates in Youth Apprenticeship Programs, where student tellers can gain valuable real-life experience.
Blackhawk Community Credit Union also participates in Youth Apprenticeship Programs, where student tellers can gain valuable real-life experience.
Next at #2, is Michigan State University Federal Credit Union, or MSUFCU. It provides financial services to the MSU community, their families, and select employee and community groups. MSUFCU also offers services to anyone who resides, works, worships, goes to school, or owns a business in Oakland, Genesee, Lapeer, Livingston, and Macomb Counties. More details about its criteria for membership qualification can be found on its website.
MSUFCU offers savings and checking accounts to its members, and has several other services as well, such as a free notary service, international currency exchange, and safe deposit boxes. In addition, home, auto, and life insurance are also available at discounted rates. The MSUFCU Financial Solutions program additionally seeks to give guidance and help create a comprehensive financial plan for every member.
Arriving at #3, we have SIU Credit Union. The directives that guide SIU come from its membership and have served the needs of southern Illinois for over 80 years. It offers membership to any individual who resides or works in qualifying counties in Illinois, employees of member companies, and the immediate family of existing members.
It offers membership to any individual who resides or works in qualifying counties in Illinois, employees of member companies, and the immediate family of existing members.
SIU also offers its members the opportunity to apply for vehicle, home, business, and personal loans, as well as for credit and debit cards. It offers financial education advice through its blog, and engages the community through events like Super Shredders. Super Shredders allows individuals to bring up to fifty pounds of personal documents, such as bank statements and insurance forms, to be shredded on-site for free.
Coming in at #4, is Hoosier Hills Credit Union, which has grown to hold more than six hundred million dollars in assets and thirty thousand members since its inception in 1968. Hoosier Hills Credit Union operates solely with the mission of securing the financial wellness of its members. Because of this, it charges fewer fees than banks with more competitive rates.
Membership is available to those who reside, work, or have a relative in one of forty southern Indiana and northern Kentucky counties. A five dollar savings deposit grants full benefits and an ownership stake. Hoosier Hills additionally offers insurance services through multiple carriers at reduced rates. These services are offered with the hope of making a positive difference in the communities it serves.
These services are offered with the hope of making a positive difference in the communities it serves.
Finally at #5, we have SouthPoint Financial Credit Union, which strives to empower its members to achieve their goals by providing service and guidance. It aspires to become the primary financial institution for its members, contribute to the well-being of the community, and maintain earnings and reserves which promote sound growth and encourage confidence and loyalty.
SouthPoint Financial Credit Union is governed by its members, so each one has an equal right to voice their opinions, vote at annual meetings, and elect the Board of Directors. SouthPoint provides transparency to account for every expenditure and shares all data with its stakeholders. Members can also receive up to six free financial counseling sessions to assist with debt, tackle credit issues, and build monetary wellness.