St. Louis residents have numerous options when it comes to credit unions for their personal banking needs. Credit unions offer many advantages over traditional banks, including lower fees, better interest rates, and a focus on member service. This comprehensive guide will explore the top credit unions in St. Louis County, Missouri, highlighting their strengths and unique offerings to help you find the best fit for your financial needs.
Overview of Credit Unions in St. Louis County
St. Louis County is home to 26 credit unions, each offering a range of services to meet diverse banking needs. Here’s a quick snapshot of the services offered:
- 26 credit unions offer Auto Loans
- 24 provide Checking Accounts
- 13 offer Credit Cards
- 24 provide Debit Cards
- 20 offer Mobile Apps
- 6 provide Mobile Check Deposit
- 14 offer Mortgage Loans
- 24 provide Online Banking
This variety ensures that residents can find a credit union that aligns with their specific financial requirements. Let’s dive into some of the standout credit unions in the area.
Gateway Metro Federal Credit Union
Founded in 1935, Gateway Metro Federal Credit Union has a long history of serving the St. Louis community. Led by Jerome Lewis, this credit union has grown to over 15,800 members with assets exceeding $182 million.
Key Features:
- Comprehensive service offerings including checking accounts, online banking, mobile app, mobile check deposit, debit cards, credit cards, auto loans, and mortgage loans
- 8 branch offices for convenient access
- Strong commitment to member service with a legacy spanning over 85 years
Neighbors Credit Union
Established in 1928, Neighbors Credit Union is one of the oldest credit unions in the area. Under the leadership of John Servos, it has expanded to serve over 47,000 members with assets surpassing $353 million.
Key Features:
- Wide range of services including checking accounts, online banking, mobile app, debit cards, auto loans, and mortgage loans
- 8 branch offices throughout the region
- Long-standing reputation for financial stability and member satisfaction
Alliance Credit Union
Alliance Credit Union, founded in 1948, has been a stalwart in the Fenton area. Led by Timothy Stephens, it serves over 20,000 members with assets of more than $263 million.
Key Features:
- Full suite of services including checking accounts, online banking, mobile app, mobile check deposit, debit cards, credit cards, auto loans, and mortgage loans
- 7 branch offices for easy access
- Strong focus on technological innovation to enhance member experience
Alltru Credit Union
Formerly known as 1st Financial Federal Credit Union, Alltru Credit Union has been operating since 1968. Under Carol Minges’ leadership, it has grown to serve over 32,000 members with assets exceeding $233 million.
Key Features:
- Comprehensive service offerings including checking accounts, online banking, mobile app, debit cards, credit cards, auto loans, and mortgage loans
- 4 branch offices strategically located
- Emphasis on financial education and community involvement
Arsenal Credit Union
Arsenal Credit Union, established in 1948, has been a trusted name in the Arnold area. Linda Allen leads this credit union, which serves over 25,000 members with assets of more than $227 million.
Key Features:
- Range of services including checking accounts, online banking, mobile app, debit cards, credit cards, and auto loans
- 6 branch offices for member convenience
- Strong focus on personalized financial solutions
First Community Credit Union
First Community Credit Union, founded in 1934, is one of the largest credit unions in the area. Led by Glenn Barks, it serves an impressive 283,864 members with assets totaling over $2.3 billion.
Key Features:
- Comprehensive service offerings including checking accounts, online banking, mobile app, debit cards, credit cards, auto loans, and mortgage loans
- Extensive network of 35 branch offices
- Ability to offer a wide range of financial products due to its size and resources
St. Louis Community Credit Union
Established in 1942, St. Louis Community Credit Union has a strong presence in the area. Under Patrick Adams’ leadership, it serves over 53,000 members with assets exceeding $263 million.
Key Features:
- Full suite of services including checking accounts, online banking, mobile app, debit cards, credit cards, auto loans, and mortgage loans
- 15 branch offices for widespread accessibility
- Strong commitment to community development and financial inclusion
Together Credit Union
Together Credit Union is a member-owned cooperative serving over 130,000 members. It stands out for its commitment to diversity and equality among its membership.
Key Features:
- Range of services including checking accounts, online banking, mobile app, debit cards, auto loans, and mortgage loans
- Emphasis on member ownership and equal treatment regardless of account balances or service usage
- Strong focus on community and member engagement
Vantage Credit Union
Founded in 1957, Vantage Credit Union has grown significantly under Eric Acree’s leadership. It now serves nearly 94,000 members with assets of over $854 million.
Key Features:
- Comprehensive services including checking accounts, online banking, mobile check deposit, debit cards, auto loans, and mortgage loans
- 14 branch offices for convenient access
- Strong financial position allowing for competitive rates and innovative services
West Community Credit Union
West Community Credit Union, established in 1936, has a rich history in the O’Fallon area. Led by Jason Peach, it serves over 19,000 members with assets exceeding $200 million.
Key Features:
- Full range of services including checking accounts, online banking, mobile app, mobile check deposit, debit cards, credit cards, auto loans, and mortgage loans
- 5 branch offices strategically located
- Focus on personalized service and community involvement
Choosing the Right Credit Union
When selecting a credit union in St. Louis, consider the following factors:
- Service Offerings: Ensure the credit union provides the specific services you need, such as mobile banking, auto loans, or mortgage services.
- Accessibility: Look for a credit union with conveniently located branches and ATMs, or strong online and mobile banking capabilities if you prefer digital banking.
- Membership Eligibility: Check the membership requirements, as some credit unions may have specific eligibility criteria based on employment, residence, or other factors.
- Rates and Fees: Compare interest rates on loans and savings accounts, as well as any fees for services you plan to use frequently.
- Technology: If you prefer digital banking, ensure the credit union offers robust online and mobile banking platforms.
- Community Involvement: Consider credit unions that actively contribute to the local St. Louis community if this aligns with your values.
- Financial Health: Look into the credit union’s financial stability and track record to ensure your funds will be secure.
- Customer Service: Read reviews or ask for recommendations to gauge the quality of customer service provided by the credit union.
READ ALSO: Top Financial Advisors and Wealth Management in St. Louis
Benefits of Choosing a Credit Union
Credit unions offer several advantages over traditional banks:
- Member-Owned: As a member, you have a say in the credit union’s operations and can vote on important decisions.
- Lower Fees: Credit unions often charge lower fees for services compared to banks.
- Better Interest Rates: You may find more competitive interest rates on loans and savings accounts.
- Personalized Service: Credit unions often provide more personalized attention to their members.
- Community Focus: Many credit unions are deeply involved in their local communities, supporting various initiatives and causes.
- Financial Education: Credit unions frequently offer financial literacy programs and resources to help members improve their financial health.
Conclusion
St. Louis boasts a diverse and robust credit union landscape, offering residents a wide array of options for their personal banking needs. From long-established institutions like Gateway Metro Federal Credit Union and Neighbors Credit Union to larger players like First Community Credit Union, there’s a credit union to suit every preference and requirement.
These financial institutions stand out for their commitment to member service, competitive rates, and community involvement. By choosing a credit union for your banking needs, you’re not just selecting a financial institution – you’re becoming a member-owner of a community-focused organization.
Whether you’re looking for basic checking and savings accounts, seeking an auto or home loan, or need comprehensive digital banking services, St. Louis’s credit unions have you covered. Their focus on member needs, coupled with their not-for-profit status, often translates to more favorable terms and a more personalized banking experience compared to traditional banks.
As you explore your options, consider your specific financial needs, the convenience of branch locations or digital services, and the unique benefits each credit union offers. By doing so, you’ll be well-positioned to find a financial partner that not only meets your banking requirements but also aligns with your values and contributes positively to the St. Louis community.
Remember, joining a credit union means becoming part of a cooperative financial community. This model of banking not only serves your individual needs but also contributes to the economic health and vitality of the St. Louis region as a whole. Take the time to explore these credit unions, and you may find that the perfect financial partner for your needs is right here in your local community.
FAQs
Q: What’s the difference between a credit union and a bank?
A: Credit unions are member-owned, not-for-profit organizations, while banks are for-profit institutions owned by shareholders. Credit unions often offer better rates and lower fees, focusing on serving their members rather than maximizing profits.
Q: How do I join a credit union in St. Louis?
A: Each credit union has its own membership requirements. These may be based on where you live, work, worship, or attend school. Some credit unions also allow membership through family connections or by joining an associated organization.
Q: Are my funds safe in a St. Louis credit union?
A: Yes, funds in credit unions are insured up to $250,000 by the National Credit Union Administration (NCUA), a federal agency. This provides the same level of protection as FDIC insurance for banks.
Q: Can I use ATMs from other credit unions or banks?
A: Many credit unions participate in shared branching networks, allowing you to use ATMs and even branch services at other participating credit unions nationwide. Some also offer reimbursement for fees incurred at other ATMs.
Q: Do credit unions offer the same services as banks?
A: Most credit unions offer a full range of financial services comparable to banks, including checking and savings accounts, loans, credit cards, and online banking. However, the specific offerings may vary between institutions.
Q: Are credit unions only for personal banking?
A: While many credit unions focus on personal banking, some also offer business banking services, including business loans, checking accounts, and merchant services.
Q: How do credit unions in St. Louis support the local community?
A: Many St. Louis credit unions are actively involved in community initiatives, offering financial education programs, sponsoring local events, and supporting charitable causes in the area.
In another related article, Navigating the St. Louis Real Estate Market as a Buyer: A Comprehensive Guide
