Hiway Credit Union will be my focus for you today. We’ll be looking at a high-level view of their offerings and dig into their consumer products.
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This is another Minnesota credit union that has been around for a long time. This CU was originally formed in 1981 to service employees of the Minnesota Department of Transportation.
The good news for you is that they’ve since expanded. If you live or do business in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, or Washington county, you are eligible to join. If you like local, this financial institution definitely has that feel.
However, they’re by no means small: Hiway Credit Union has 79,000+ members worldwide (which I guess means you can move but stay a member) and over $1.5 billion in assets.
Their Offerings For You
I really wish this place had “Life is a Hiway” somewhere on their website. That might involve needing to pay Rascal Flatts royalties or something. Anyhow, let’s see what they have.
Hiway Credit Union touts itself as “Minnesota’s best credit union.” They can offer you a variety of different savings products, including standard savings accounts, money market savings, youth savings, health savings, retirement and a handful of others.
In addition to their savings products, you also have a few spending-focused options there, too. They offer four main checking accounts. Those are their Free Checking, Hi Yield Checking, Benefits Plus Checking, and Minnesota Wild Checking (I like that one!). There are also personal debit cards.
You can also get various home, auto, and student loans there. There are other loan products besides those at Hiway Credit Union, too.
Hiway Credit Union Offerings For Your Business
They offer a suite of savings and investing products if you’re a business owner. You can also get checking accounts and debit cards from them. They also provide checking to clubs and nonprofits.
Outside of those products, they also offer different financing options for businesses. Those include commercial real estate loans, a Visa Business Card, equipment financing, and a few others.
You can also get insurance and other business services like cash management tools through Hiway Credit Union. Let’s look more closely back at some of those personal checking offerings.
A lot of popular places like this offer an entry-level free checking account. Something unique about their free checking account is that it earns you dividends while you spend (rates as of this writing were .01% APY). There’s no minimum balance or monthly service fees.
They don’t charge you per-check and you get your first box of checks free. There’s also a free debit card and free overdraft protection in it for you. Like the other leading CUs in Minnesota, Hiway Credit Union has a vast network of 64,000+ surcharge-free ATMs.
The only thing that doesn’t look so great is needing to pay $1 for each ATM transaction over 12 each month. The first 12 are free. Personally, this wouldn’t be a big deal for me because I don’t use the ATM much, however, you should keep that in mind if you’re a frequent user.
Hiway Credit Union Hi-Yield Checking Account
With their Hi Yield Checking account, you earn higher dividends on up to $25,000 each month when you meet a few requirements. That dollar amount for earning dividends is pretty common among the leading credit unions.
In order to get dividends, you need to keep a $1,000 minimum balance and have a combined 15+ debit or credit card purchases that post to your Hiway Credit Union account each month. You also need to enroll in eDocuments. The current rate as of this writing is 2.02% APY.
The other features and benefits of this account are largely the same as with the free one. Check out important disclosures for this account here.
Benefits Plus Checking
Their Benefits Plus account is a little bit different. This one has a small fee of $4.95 per month, which gets you a lot of exclusive benefits on top of many that come with their free checking account.
Those include consumer protection services (think things like identity theft protection), travel services/discounts, dining/entertainment, national/local merchant discounts, family benefits, and savings on various health services.
You can check out a lot more detail on those here.
The Hiway Credit Union Minnesota Wild Account
This is pretty cool. Opening a Minnesota Wild account with them gets you a Wild-branded debit card, checks, and a credit card if you need one.
On top of that, you can win Wild prizes and get a 15% discount at the Hockey Lodge. I imagine that this account includes all the same benefits as the regular free checking one does, however, it doesn’t explicitly say that on the Hiway Credit Union site.
This is a solid Credit Union for Minnesotans to consider. If you happen to be a hockey fan, there’s no question that this financial institution is the right one for you. Their number is 651.291.1515 if you have additional questions.
Seeing as I’m a hockey fan myself (and currently considering my options) this might be my new place sooner or later.
*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.
*This site is not affiliated with the Credit Union mentioned in this article.