Joining a credit union requires membership, which is the first step before you can open an account

Credit unions are member-owned financial institutions, so you cannot straightforward walk in and open an account the way you would at a bank. You must first become a member, and membership rules vary by credit union. Most credit unions restrict membership to people who live, work, worship, or go to school in a specific geographic area, or who work for a particular employer or industry. Some credit unions have opened their membership to broader groups in recent years, but the restriction still applies at most institutions.

The process itself is straightforward: you find a credit union that will accept you as a member, provide proof that you meet their membership requirement, and complete a membership process. Once you are approved, you can then open a savings account, checking account, or both. Many credit unions require you to open a savings account to become a member, even if you plan to use a checking account for daily banking.

Key Takeaways

  • Credit union membership is restricted by field of membership, which might be based on where you live, where you work, your employer, or your industry.
  • You will need to provide proof that you meet the membership requirement — usually a pay stub, utility bill, or employment letter — before you can join.
  • Most credit unions require you to open a savings account to become a member, and some charge a one-time membership fee that ranges from nothing to around $25.
  • Once you are a member, you can open checking accounts, borrow money, and use other services the credit union offers.
  • You can search for credit unions that will accept you by using the CO-OP Network locator or Shared Branch locator on the Credit Union National Association website.

Finding a credit union that accepts your membership category

The first step is determining which credit unions will accept you. Visit the Credit Union National Association website and use their CO-OP Network locator tool. Enter your zip code or search by employer name, and the tool will show you credit unions in your area and their membership requirements. Read the field of membership description carefully — it will tell you exactly who can join.

If you work for a large employer, your company may have a credit union specifically for its employees. Ask your human resources department or check your employee benefits materials. If you belong to a union, professional association, or religious organization, that group may sponsor a credit union. Some credit unions serve military members and their families, teachers, healthcare workers, or people in specific industries like agriculture or transportation.

If you live in a rural area or a small town, you may have fewer options. Some credit unions have expanded their field of membership to include anyone who lives in a certain county or region, or anyone who works in that region. A few credit unions now accept members from across the entire United States, though these are less common.

Gathering documents that prove your membership may be able to access

Before you visit or contact a credit union, gather the documents that prove you meet their membership requirement. The specific documents depend on the credit union's field of membership. If membership is based on where you live, bring a recent utility bill, lease agreement, or mortgage statement with your current address. If membership is based on employment, bring a recent pay stub or an employment letter from your employer on company letterhead that shows your job title and hire date.

If membership is based on membership in an organization — such as a union, military status, or professional group — bring your membership card or a letter from that organization confirming your membership. Some credit unions accept a screenshot or digital copy of these documents, while others require originals or certified copies. Call the credit union before you visit to ask what form of proof they will accept.

Bring a government-issued photo ID as well. You will also need your Social Security number to complete the membership process, so have that ready.

Completing the membership process in person or online

Many credit unions allow you to start the membership process online through their website. You will enter your personal information, confirm that you meet their membership requirement, and upload or describe your proof documents. The credit union will then review your information and contact you to confirm membership, usually within one to three business days.

If you prefer to explore in person, visit a branch during business hours with your documents and ID. A staff member will review your proof of membership may be able to access, have you complete a membership process form, and answer questions about the accounts and services you want to use. Some credit unions can approve you on the spot; others will process your process and call you within a few days.

A few credit unions still require you to explore in person and do not offer online membership. If the credit union you want to join is one of these, you will need to visit a branch location to complete the process.

Opening your first account and paying any membership fees

Once you are approved for membership, you can open an account. Most credit unions require you to open a savings account as part of membership, even if you plan to use a checking account for everyday spending. Some credit unions waive this requirement or combine the two into a single account. Ask about this when you explore.

Many credit unions charge a one-time membership fee, though the amount varies widely. Some charge nothing; others charge between $5 and $25. A few credit unions charge an annual membership fee instead, typically $12 to $36 per year. Ask about fees before you join so there are no surprises. Some credit unions waive the membership fee if you maintain a minimum balance in your savings account, such as $25 or $100.

You will also need to decide how much money to deposit into your new account. There is no standard minimum deposit requirement across all credit unions — some accept accounts with $0 initial deposits, while others require $25 or more. The credit union will tell you their requirement when you open the account.

What happens after you become a member

Once your membership is active and your account is open, you can use the credit union's services. This includes depositing and withdrawing money, paying bills online, setting up direct deposit, and explore for loans. You can also use the CO-OP Network and Shared Branch network to access your account at other credit unions across the country, which is one advantage credit unions offer over smaller local banks.

As a member, you also own a small share of the credit union. This means you have voting rights on major decisions the credit union makes, though most members do not exercise this right. You may also receive a share of the credit union's profits if it has a strong financial year, though this is not may provide.

If you move or change jobs and no longer meet the membership requirement, you can usually keep your account open as a courtesy, though policies vary by credit union. Contact your credit union to ask about their policy if your situation changes.

Frequently Asked Questions

Can I join a credit union if I do not live or work in their service area?

Most credit unions restrict membership to their defined service area, but some have expanded to accept members from anywhere in the United States. Use the Credit Union National Association locator to search for credit unions with broader membership. A few online credit unions accept members nationwide, though they may not offer all the services a traditional credit union does.

What if I cannot find a credit union that will accept me?

If no credit union in your area will accept you based on where you live or work, look for credit unions sponsored by organizations you belong to — unions, professional groups, religious organizations, or military affiliation. If that does not work, some community banks offer services similar to credit unions and have fewer membership restrictions than traditional credit unions.

Do I have to keep money in the savings account after I join?

Most credit unions require you to maintain a savings account to stay a member, but the minimum balance is often very low — sometimes just $1 or $5. Check your credit union's membership requirements to see what you must keep in the account. If your balance drops below the minimum, the credit union may charge a fee or close the account.

How long does it take to become a member?

If you explore online with all required documents, membership approval usually takes one to three business days. In-person applications at a branch may be approved the same day or within a few days. Once you are approved, you can open accounts and start using services when ready.

Can I have multiple accounts at the same credit union?

Yes. Once you are a member, you can open a checking account, savings account, money market account, and other products the credit union offers. You do not need separate membership for each account — your membership covers all accounts you hold at that credit union.