Arizona’s Best Local Credit Union (2024)

FAQs

Who is the best credit union in AZ? ›

Desert Financial, named the No. 1 credit union in Arizona by Forbes, and ASU®, ranked No. 1 “Most Innovative School” in the nation by U.S. News & World Report, have joined together in a partnership that looks out for another No. 1: You! Show your Sun Devil® spirit with an ASU debit card!

Celebrating more than 80 years in years in Arizona, Desert Financial is the state's largest and most trusted credit union.

Credit unions are owned by their members, so members are usually the focus of the institution. This means that credit unions are generally known for providing better customer service than banks. Nonprofit structure means better rates and lower fees.

Credit unions are generally considered to be safer than banks during economic downturns due to their conservative approach to risk and their emphasis on financial robustness.

A good FICO Score falls between 670 and 739, while an exceptional score measures 800 and above. A good VantageScore ranges from 700 to 749, while an excellent score is 750 and above. The higher the number, the lower the perceived credit risk.

By spreading your accounts around to different federally insured banks and credit unions, you can get access to having more of your money insured by the NCUA or the FDIC. You can better manage your money and build your savings.

After many trips to Phoenix and months of work with the Arizona lawmakers, an Arizona Credit Union law was passed in 1929. Pyramid received one of the state's first charters to formally operate as a credit union, on the first available day of that year, November 29th.

Who owns AZ credit union? ›

As a credit union with over $3.3 billion in assets, OneAZ is owned by its members, who benefit from better rates, lower fees for service and improved technology.

Arizona Central Credit Union is a not-for-profit, full-service, financial institution owned by its members. With over 60,000 members, over $755 million in assets, and nine, full-service branches throughout the Greater Phoenix area, Tucson, Flagstaff and Show Low, we have proudly served Arizona since 1939.

One of the most compelling reasons to choose a credit union over a traditional bank is the favorable interest rates on savings accounts, checking accounts, and certificates of deposit (CDs). Typically, credit unions offer higher interest rates on savings and lower rates on loans.

First, bankers believe it is unfair that credit unions are exempt from federal taxation while the taxes that banks pay represent a significant fraction of their earnings—33 percent last year. Second, bankers believe that credit unions have been allowed to expand far beyond their original purpose.

Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass. May offer fewer products and services.

The FICO Score is used by most lenders, and typically ranges from 300 (very poor) to 850 (exceptional).

Teachers Federal Credit Union is among the easiest credit unions to join, requiring just a $1 minimum deposit into a TFCU savings account. Likewise, Alliant Credit Union is also easy to join with a one-time $5 donation to the Alliant Credit Union Foundation. Best of all, Alliant pays this fee.