Ideal Credit Union – Important Information + Review

Ideal Credit Union is the CU I’ll be taking a look at here.

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This is a Minnesota credit union that you can consider for keeping your money safe in lieu of a traditional bank. There are a handful of benefits in using one of these types of financial institutions.

The main ones are that you would be an actual owner as a member, they give back to the community, and you get to keep your money local.

A Little History

A big trend I’ve noticed with credit unions is that many of them started the same way. A group of employees (in Ideal’s case, postal workers) got together and formed a financial cooperative. This CU was formed back in 1926 and has expanded significantly in the near 100 years since.

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Ideal Credit Union Membership Requirements

If you want to become an ideal member, you’re in luck. Since 2002, people who live in Washington, Ramsey, Dakota, Anoka, Chisago, and Hennepin counties have been able to join. But wait, there’s more. Now, anyone in the United States can join this CU. I’m not exactly sure how long the doors have been open to everybody, but now you don’t need to worry about moving to Minnesota.

What They Offer

Ideal Credit Union offers what you would expect in a local-feeling nationwide credit union. There are a few different checking and savings account options. Those include checking accounts, savings/money market accounts, CDs, Student options, IRAs, and HSAs.

There are also a handful of loans and credit options that you can get here. Those include auto loans, home loans & refinancing, Visa credit cards, Home equity loans, Home improvement loans, Personal loans, Recreational loans.

If you have a lot of money that needs managing, they do have wealth management advisors. That team can help with retirement planning, purchasing annuities, insurance products and investing your money through Ideal Credit Union.

Lastly, you can also use this CU for your business if you have one. Business services, checking/savings accounts, debit/credit cards, and loans + lines of credit are all offered by Ideal. Let’s swing back and look at a few more details on their personal checking options.

Ideal Credit Union Checking

You have a couple different types of checking accounts to choose from with Ideal. There’s the standard Free Checking account, Relationship Checking account, Cashback Checking account, and High Yield Checking account.

Each of these comes with some standard benefits for you to enjoy. Those include their debit card and a monthly shot at winning their $1,000 usage giveaway. The only other CU that I can think of with a giveaway that good is Mayo employees federal and their savings WINcentive program.

You get access to your account 24/7 with Ideal Credit Union’s digital banking and mobile app. That’s pretty standard among most CU’s today.

There’s direct deposit available and a big network of surcharge-free ATM’s (about 30,000). You can save easier with their Debit Card RoundUp program. Just from the title of that, I’m guessing they allow you to round up on purchases and deposit it into a savings account. After checking, that’s confirmed.

You can also benefit from their overdraft protection services and a debit rewards program that earns you points on everyday purchases.

The MyRewards Program At Ideal Credit Union

They actually have a really big rewards program, way more significant than what I’ve seen with other CU’s. Besides earning points for regular things that you buy, you can also get cash back when shopping online.

There’s some kind of extended warranty you can get rewarded with. I’m assuming that has to do with your car, but they don’t go into detail at all. There’s also an opportunity for short-term loans for MyRewards Platinum Debit Card holders, plus, local discounts and coupons.

It does look like you need to pay a monthly fee for the full benefits of this rewards program at Ideal Credit Union. There’s nothing about what that amount is anywhere, unfortunately. Just a 90 day free trial that you can get with the promo code IDEAL90FREE.

Ideal Credit Union – Final Thoughts

Regardless of where you live in the United States, Ideal could be an ideal option for you. This credit union has a competitive suite of offerings that’s in line with the many others that I’ve researched.

They have a few more account options within their checking and savings than you might find at other CU’s. Things like cashback checking or high-yield money market accounts could be appealing to you at Ideal Credit Union.

*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.

Bob Buckley

Bob Buckley writes about food and business.