Updated: Dec 17, 2020
"Mysmallbank.com has compiled a list of the Top 10 incredibly well-run credit unions we have reviewed. Hopefully, one of these credit unions is located in an area where you live and work."
By: Allan R Kirby
The importance of reviewing Micro and Small Credit Unions:
There is no question one of the biggest issues faced by many micro and smaller sized credit unions is that they are often overlooked by many because of their size. We however believe otherwise. We provide authentic reviews to highlight great financial institutions that are often not reviewed because of their size. We do not receive any compensation or other benefits for doing such reviews. However, Mysmallbank.com does feel compelled to ensure that potential members do get an opportunity to find detailed reviews that can help them make an informed decision on choosing one of the credit unions highlighted.
All of the credit unions we reviewed exceeded our minimum standards of excellence and are considered some of the best credit unions you can find in the USA. See our list and then just simply click on a selected Credit Union to read our review.
# 1 Solarity Credit Union
Name: Solarity Credit Union
Headquartered: P.O. Box 2922, Yakima, Wyoming, 98907.
Year Established: 2011.
# 2 CrossRoads Community Federal Credit Union
Name: CrossRoads Community Federal Credit Union
Headquartered: 3031 William Street, New York, 14227.
Year Established: 1939.
# 3 Greater Wyoming Federal Credit Union
Headquartered: 155 W Collins, Casper Wyoming, 82601.
Year Established: 1953
# 4 Valley Communities Credit Union
Headquartered: 975 Indianhead Drive, Mosinee, Wisconsin, 54455.
Year Established: 1935
# 5 First Source Credit Union
Location: New Hartford
Headquartered: 4451 Commercial Drive, New Hartford, New York, 13413.
Year Established: 1938
# 6 MIT Federal Credit Union
Name: MIT Federal Credit Union
Headquartered: 70 Westview St.
Lexington, Massachusetts, 02421-3142
Year Established: 1940
# 7 Harvard University Employees Credit Union
Headquartered: 104 Mt Auburn St, Cambridge, Massachusetts, 02138.
Year Established: 1939
# 8 Horizon Federal Credit Union
Headquartered: 2849 Reach Road, Williamsport, Pennsylvania, 17701
Year Established: 1955
# 9 Rivermark Community Credit Union
Headquartered: 8505 SW Creekside PL, Beaverton, Oregon, 97008
Year Established: 1951
# 10 Pelican State Credit Union
Headquartered: 3232 S Sherwood Forest Blvd, Baton Rouge, 70816.
Year Established: 1956.
Definitions of a Micro and Small Credit Union:
What is a micro-credit union? mysmallbank.com defines a micro-credit union as a nonprofit-making money cooperative that has no more than 1-5 branches serving its members in a small geographical area. Generally speaking, most credit unions in the USA are either micro or small (under 25 branches) in size.
What is a small credit union? mysmallbank.com defines a small credit union as a nonprofit-making money cooperative that operates no more than 25 branches. Generally speaking, most credit unions in the USA are either micro (1-5 branches) or small in size.
What are the disadvantages of a credit union?
Generally speaking, the two most common disadvantages are small branch networks and poor technology service offerings. However, we believe there are no such disadvantages of using a credit union. Today even smaller credit unions are building highly customer-centric branches that offer comparable technology to larger banks. In fact, smaller credit unions could even provide a better omnichannel to support customers through social media, online, and mobile banking. Companies such as nCino and Eltropy are two very good examples of tech companies helping credit unions onboard customers seamlessly while providing great customer relations.
What is Eltropy Texting?