The University of Washington has partnered with three local credit unions to help you save more and better manage your finances: Prevail Credit Union, School Employees Credit Union (SECU), and Washington State Employees Credit Union (WSECU). These credit unions are full-service, nonprofit financial cooperatives offering a line of products and services with competitive rates, low or no fees, easy access, and a commitment to making your life easier.
How do credit unions differ from other financial institutions?
Credit unions are mutual organizations. In most cases, their only source of capital comes from member shares and retained earnings. In general, they don't issue stock or other securities; they're governed by their members, and voting is on the basis of one vote per person, regardless of an individual’s balance. Members own the credit union, use its services, and may volunteer to participate in its administration. Credit unions view themselves as cooperatively organized to meet the needs of their members and as an alternative from traditional financial service suppliers. Most credit unions are part of the Credit Union System that consists of organizations at the local and national levels.
Benefits of Credit Union Membership
The benefits of joining a credit union are many. These include:
- Free and/or low-fee checking accounts
- Flexible accounts to help you manage savings, including money markets, certificate of deposits, and IRAs
- Direct deposit or payroll deduction from your paycheck
- Free online bill paying
- Free online transfers between credit union and other financial institutions
- Free ATM use for deposits and withdrawals (when using affiliated machines)
- Low loan rates
- Visa credit and debit cards of various types with low, variable rates and no annual fees
- Visa gift cards
- Free online budgeting tools
- Free educational seminars and webinars
- Superior member service via web, phone, ATM, and mail
- Shared branches (statewide and nationwide)
- Coin counting machine (WSECU)
- Deposits are federally insured to $250,000 by NCUA (the credit union equivalent of FDIC)
Once you join a credit union, you're always a member. It doesn't matter if you change jobs, move or retire—you can maintain your credit union membership and account(s). Compare and join any of the credit unions listed below.
Prevail Credit Union
The membership base has been broadened to include anyone who lives, works, or goes to school in Washington state. Read Membership Eligibility.
School Employees Credit Union (SECU)
Membership is generally limited to school, college, and university employees and their families. Read Membership Eligibility.
Washington State Employees Credit Union (WSECU)
Membership includes Washington state public employees, school district personnel, and their family members. Read Membership Eligibility.
Saving & Investment Seminars