Five steps to start your credit union journey

Master the banking basics

Before deciding on a credit union, it’s important that you understand the basics. That way you can know exactly what’s happening with your hard-earned money behind the scenes. Flip through these flashcards to make sure you understand key terms like “deposit” and “checking account.” Then, you can read up on top banking products and start to find a credit union that works for you. Click here, then scroll down the page to find the cards.

How credit unions compare to traditional banks

Although credit unions offer great perks like higher-than-average interest rates, they aren’t the right fit for every customer. This handy guide helps would-be bankers identify their top financial priorities. To see how credit unions stack up against traditional banks across key areas like branch locations, customer service, and digital technology, click here.

16 credit unions with almost no membership requirements

One of the hallmarks of credit unions is that they tend to be exclusive. For instance, one of the largest credit unions only does business with Boeing employees. However, this roundup introduces 16 credit unions that have practically no membership requirements. Interested customers may need to guarantee $5 minimum deposits and in some cases, make a donation to an affiliated charitable organization.

Credit unions, explained

Proponents of credit unions often point to the fact they’re not-for-profit cooperatives instead of for-profit businesses as a key selling point. This explainer dives into what this looks like in action—instead of pocketing the profits from interest rates, credit unions reinvest that money into the products and services they offer. For customers, this tends to create a more personal and community-oriented experience.

Meet Alphonse Desjardins, a credit union pioneer

The first credit union opened in Germany in 1864, but the bank alternative didn’t reach North America until 1901. That’s when Canadian journalist Alphonse Desjardins introduced the concept to his hometown with a starter 10-cent deposit. Desjardins helped launch the first US credit union just eight years later. This engaging timeline highlights Desjardins, his contributions to credit unions, and how the institutions have evolved over the last 100-plus years. Scroll through the timeline here.

Find an accredited credit union near you

The National Credit Union Administration is to credit unions what the Federal Deposit Insurance Corporation is to traditional banks—it insures deposits of up to $250,000 per customer per account. This lookup tool allows you to search for nearby credit unions so you can check that a business is accredited by the NCUA before you begin your banking journey.

Are credit unions living up to DEI promises?

Credit union insiders often say their institutions better serve minority bankers through a combination of a not-for-profit ethos and community focus. However, a recent probe found that the largest US credit union rejected more than half of all Black applicants for conventional mortgages. To dive deep into Navy Federal Credit Union’s mortgage practices, read this journalistic investigation.

How starting a union works

Starting a union within a workplace is a long, complicated process. There are many steps to take depending on how management reacts to each decision workers make during the proceedings. If you’re interested in helping your workplace unionize—or curious about what the journey to unionization looks like—this video can help.

Facts and figures on the largest credit unions

As of early 2024, credit unions had $2.31T in assets under management and were growing exponentially. Some of the biggest players limit access to military personnel, residents of specific states, and those with active religious affiliations. If you want to bank with some of the top names in the US, this list will help you check to see if you qualify.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

The federal government offers billions in student aid each year in the form of scholarships, grants, loans, and more

The very first—and necessary—step is to fill out a federal application to get your information into the system. Known as the Free Application for Federal Student Aid, or FAFSA, this key form must be completed by Oct. 1 for the following academic year.

Inside one credit union’s big NFL bet

Herndon, Virginia-based Northwest Federal Credit Union is working to bring credit unions into the spotlight. The relatively small institution just made a big splash when it struck an $8M-per-year naming rights deal with the Washington Commanders. Northwest is now the official credit union partner for the team and has turned FedEx Field into Northwest Stadium. Banking nerds and sports fans alike are paying close attention. Read this article to learn more.

Learn how to invest in index funds with this step-by-step guide

There are a few questions experts suggest answering before investing in an index fund, such as your goals for your investment and the index you want to track. This article walks you through those questions to help you get started.

Five primary factors determine your credit score

Your credit history is used to calculate your credit score. It includes information such as how often you miss payments (on credit cards, for instance), the types of financial accounts you hold, how long you’ve held those accounts, and more.

A guide to the homebuying process

From searching for the home itself to writing an offer letter to closing on the home, there are specific steps involved in becoming a homeowner. This checklist from a Tennessee real estate broker provides a visual outlining the basic steps of the process.

Credit reporting's earliest origins in the 1700s resemble a game of telephone, with rural merchants asking their most esteemed neighbors to vouch for them to sleuthing urban lenders

It would be decades before the system evolved into something more formulaic. For instance, New York City's Mercantile Agency—which was created to formalize information and rumors about borrowers, sorting the reports into enormous ledgers—wasn't started until 1841.

US women got the right to open a credit card in their own name in 1974

Before that year, banks in the US were legally allowed to deny women credit or charge them higher interest if they failed to get a male cosigner.

How to get a copy of your credit report

By law, it's possible to get a free credit report once each year from Equifax, Experian, and TransUnion, the three major credit bureaus. The US government recommends using AnnualCreditReport.com to request these reports, as it's the only website authorized by the federal government to provide the legally mandated free reports.

The US Mint created a video to show kids how coins are made

The video, made simple for children (or anyone who wants an easy-to-understand 101 video about the process coins go through to get in your wallet), outlines the entire process that a coin goes through in its lifetime, from Congress voting on new coins, to how coins are stamped, to their journey to a Reserve Bank.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

Robinhood's mission of democratizing finance included its IPO

In 2021, investing app Robinhood went public—and decided to go about its IPO process differently. Unlike other companies, it opened up its IPO for the general public to purchase right away. A podcast episode explains what made Robinhood's IPO so unique prior to its launch date.

What it's like to do your own taxes for the first time

Most Americans across the country have one thing in common: They hate doing their taxes. Many use an accountant or an online service like TurboTax to avoid doing taxes themselves. In this video, two journalists decide to do their taxes on their own for the first time.

Connecticut recently became the first state to create and launch a baby bond program

The program invests $3.2K for a baby born after July 2023, who is covered by the state's Medicaid program. When the child turns 18, they can use the funds for college, retirement, to buy a home, or invest in a business.

Workers need 40 ‘credits’ to qualify for Social Security retirement benefits

Forty credits are equal to about 10 years of full-time work. If someone has never worked, they won’t be eligible for benefits on their own, but they could qualify via a spouse, ex-spouse, or dependent.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Worldcoin: the cryptocurrency collecting biometric data

An ambitious project launched by OpenAI's founder Sam Altman, Worldcoin aims to provide a global financial and identity network based on proof of personhood through biometric scanning of individuals' irises.

Venture capital is a type of financing that firms and funds use to invest in startups they believe have the potential for long-term growth

Household name companies such as Airbnb and Uber might not exist without venture capital, which is commonly referred to as "VC" for short.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Children are now three times more likely to say they want to be a YouTuber when they grow up than an astronaut, with some even attending 'YouTube camps' that teach kids how to create content for the platform.

Explore an interactive map built from more than 100,000 survey responses on where people find joy in their lives

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

Crows are believed to have intelligence on par with a seven-year-old child and demonstrate complex behaviors, from problem-solving with tools to recognizing human faces.

Watch a 1934 short film starring jazz legend Cab Calloway, a major figure in the Harlem Renaissance's music scene

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

This poison ivy knowledge quiz—accompanied by photos of the plant's varied forms—may help you identify this common rash-inducing growth.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Ebola infects and disables immune cells, triggering a cascade of events that leads to small blood clots throughout the body, weakening blood vessels and interrupting blood flow to key organs.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.