Community First Credit Union Info + Review
Community First Credit Union is the Wisconsin CU that I’ll be focusing on here. We’ll go over important information like their history, membership eligibility, and what financial products they offer.
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This is one of the biggest CUs in Wisconsin.
*Routing #: 275982801
A Little History
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This CU was started in the mid-50s. A lot of the ones out there were started in the early ’30s, but, a handful have also been founded in the 50s.
The founder was Maurice Dresang, who voluntarily ran it for two+ decades. That’s pretty impressive, since he also had a full-time job, according to their site.
He was clearly very motivated to start a great financial institution. Over the years, it has steadily grown to 145,000+ members and over $4.2 billion in assets.
Membership Requirements At Community First Credit Union
You will need to meet one of a few requirements to be eligible for membership there. Those are either working, living, or attending school in Northeast Wisconsin.
They don’t list the specific cities, but, there are a couple you can probably live in. Those are Appleton, Fond du Lac, Green Bay, Manitowoc, Oshkosh, Plymouth, Ripon, Sheboygan, and Two Rivers.
Products At Community First Credit Union
You can find a lot of the usual banking products at this credit union. That includes things for everyday personal banking, like checking, savings/money markets, credit cards, digital credit cards, CDs, IRAs, and Health Savings Accounts.
Community First Credit Union carries a handful of lending products for you to choose from. Those include vehicle loans, home loans/equity, student loans, and personal loans.
The personal loans can be used for whatever, so, if you need a quick vacation or a car repair, you’re covered. That being said, I wouldn’t recommend taking out a loan to go on a vacation.
They can offer you financial advisory services and insurance, too. Their investment team can help with individual retirement services, investments, planning, and business retirement services.
Business Services At Community First Credit Union
There are various business services to choose from if you run your own company. Those include checking accounts, loans, deposit accounts, company credit cards, and operational services.
Let’s take a look back at some of their personal offerings.
You can choose from a few different personal savings accounts here. Those include their Membership Savings, Youth Savings, Holiday Club Savings, and Additional Savings Accounts.
The quickest way for adults to get started saving is with their Membership Savings account. All it takes is a $5 minimum deposit and you get started as a member-owner, according to the Community First Credit Union website.
Balances of $100+ will earn you dividends. Their current APY (annual percentage yield) for that account is .20% as of this writing. Dividends are compounded quarterly.
You can set up automatic transfers every payday to make progress toward your savings goals, too.
Options For Your Kids
The Youth Savings option at Community First Credit Union gives your kids something to grow their money with. That account also needs a $5 minimum deposit and pays dividends on balances of $25 or more.
You can decide how much fund access to give to your kids as well. That account pays the same dividends as the adult account, so, your kids earn as much as you do.
Holiday Club Savings
The other main savings account that you can get helps you save for the holidays. Community First Credit Union’s Holiday Club Savings account is designed so you can put some money away each month.
On October 1st of each year, the balance can be transferred to your account of choice. Annual dividends are paid based on your average daily balance between 10/1 and 9/30.
This account does have an early withdrawal fee that you should know about. Be aware that early withdrawals are subject to a $10 fee, so, make sure you keep a separate fund for emergencies in a regular checking or savings account.
Community First Credit Union
Community First Credit Union has a lot of the standard financial products you’d find at any bank or other leading credit union. Their loan rates can get really competitive, with some auto loans as low as 1.990% APR as of this writing.
If you live in the Northeast Wisconsin area, then check them out at https://www.communityfirstcu.org/.
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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.
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