2017 RANKING & REVIEWS
TOP RANKING CREDIT UNIONS IN AUSTIN, TEXAS
Intro: Finding the Best Credit Unions in Austin, TX
Choosing a bank is an extremely important decision and the Austin, Texas area has many great banking options to choose from. From big name banks to home grown local institutions, Austin has it all. However, many people prefer to utilize the top Austin credit unions over banks for their banking needs.
Austin credit unions can offer a great deal of value to their customers. Because they are not-for-profit institutions, credit unions are able to pass on profit to its members in the form of higher savings rates and lower loan rates.
Many of the best credit unions in Austin, Texas offer credit services similar to the large name banks: credit cards, mortgages, home equity loans, lines of credit, and auto loans. They are just able to offer them at a lower rate.
Award Emblem: Top 10 Best Credit Unions in Austin, Texas
Searching for Austin area credit unions can be a truly daunting task. With so many choices, it can be hard to narrow down the list to only those that are truly the best credit unions in Austin. Luckily, we have done the research for you.
We have assembled a list of the ten best credit unions in Austin. The Austin, TX, credit unions on this list offer the most value to customers through their low-cost products and outstanding customer service.
AdvisoryHQ’s List of the Top 10 Best Credit Unions in Austin, TX
List is sorted alphabetically (click any of the names below to go directly to the detailed review section for that credit union)
- A+ Federal Credit Union
- Amplify Credit Union
- Austin Telco Federal Credit Union
- Capitol Credit Union
- Government Employees Federal Credit Union (GEFCU)
- Greater TEXAS Federal Credit Union
- Public Employees Credit Union
- United Heritage Credit Union
- University Federal Credit Union
- Velocity Credit Union
Click here for 2016’s Top 10 Best Credit Unions in Austin
Top 10 Best Credit Unions in Austin | Brief Comparison
Austin Credit Unions
|A+ Federal Credit Union||PlusPoints Loyalty Program|
|Amplify Credit Union||Bank at Work Program|
|Austin Telco Federal Credit Union||eSign|
|Capitol Credit Union||Scholarship Program|
|Government Employees Federal Credit Union (GEFCU)||EZ Green Checking|
|Greater TEXAS Federal Credit Union||Preferred Auto Dealer List|
|Public Employees Credit Union||PECU Zoo Crew Kids Account|
|United Heritage Credit Union||Coverdell Education Savings Account (CESA)|
|University Federal Credit Union||Financial Planning Services|
|Velocity Credit Union||Energy Star Loan Program|
Table: Top 10 Best Credit Unions in Austin | Above list is sorted alphabetically
AdvisoryHQ’s Selection Methodology
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top rated lists?
Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Best Credit Unions in Austin
Below, please find the detailed review of each firm on our list of the credit unions in Austin. We have highlighted some of the factors that allowed these Austin credit unions to score so high in our selection ranking.
A+ Federal Credit Union Review
A+ Federal Credit Union was founded in Austin in 1949 by a group of 50 school teachers during a picnic. From this humble beginning, this locally grown credit union now boasts 21 branches and close to 130,000 members.
This not-for-profit credit union in Austin is member owned and operated. It is governed by a volunteer Board of Directors elected from its membership. The Board of Directors also appoints a Supervisory Committee to perform regular audits to ensure the safety of members’ funds.
Throughout its 65 year history, A+ Federal Credit Union has upheld its founding philosophy of people helping people.
Image Source: Best Credit Unions In Austin
Key Factors That Enabled This Firm to Rank as One of the Best Credit Unions in Austin
Listed below are key factors that enabled A+ Federal Credit Union to be rated as one of this year’s best credit unions in Austin, Texas.
PlusPoints Loyalty Program
A+ Federal Credit Union believes in rewarding its members. This top Austin credit union’s commitment to its members really shines through in their PlusPoints member loyalty program.
Many banks offer an incentive program to customers, but few are as easy to take advantage of or pass on as many savings to customers as this Austin area credit union’s incentive program does.
This unique reward program allows members to earn rewards hassle-free and with very little effort. Members simply go about their business as usual and the rewards rack up.
Rewards are easily earned for everyday things. Here is a breakdown of how points are earned:
- 1 point for every $1 in interest that is paid on a loan
- 1 point for every $1 in dividends that is earned on a deposit account
- 100 points for every year of membership
- 100 points for members’ birthdays
- 10 points every time a member swipes and signs for a purchase using their A+ Federal Credit Union debit card
- 5 points every time the debit card is swiped and used with a PIN number when it is linked to an A+ Cash-back Checking Account
- 100 points for attending a financial workshop
- 50 points for bringing a guest to a financial workshop
- Monthly PlusPoints are also awarded for monthly interest payments received on Portfolio loans
Once a member has earned 2,500 PlusPoints, the points can be used for a reward. While many banks and credit unions offer reward redemption for items or discounts on vacations and airline tickets, this top credit union in Austin offers something much more valuable: money saving discounts on their already competitive rates.
Reward points can be used in a number of ways.
Buy down the interest rate on a new loan:
- 0.25% with 2,500 points
- 0.50% with 5,000 points
Lower real estate origination fees:
- 0.25% with 2,500 points
- 0.50% with 5,000 points
Buy up the rate on certificates or IRA certificates:
- 0.25% with 2,500 points
- 0.50% with 5,000 points
This unique reward program from this Austin credit union offers members the opportunity to save money and gain higher earning potential across the span of several years’ time – making it a valuable benefit to its members.
A+ Federal Credit Union offers its members the convenience of using Mobile Wallet. Mobile Wallet allows users to carry their debit or credit card information in digital format on their cell phone.
With Mobile Wallet, customers of this top rated Austin credit union can use their smartphone, tablet, or smartwatch to make purchases without having their debit or credit card physically on them.
This Austin credit union currently offers Mobile Wallet service through the use of:
- Android Pay
- Apple Pay
- Samsung Pay
This convenient payment option allows members of this top rated Austin credit union to use their A+ Federal Credit Union debit card while keeping their card number confidential and their personal information secure.
myFinance is an online money management tool offered by A+ Federal Credit Union as part of their online banking. This tool is available to help members take control of their finances and stay on track to meet their financial goals.
Source: A+ Federal Credit Union
Features of the myFinance tool include:
- Goal tracking
- Bubble budget
- Expense tracking and categorization
- Debt management
- Mobile access
Another big bonus with this free program is that it allows members of this Austin credit union to combine all of their financial accounts and debts from all financial institutions to get a complete financial picture.
myFinance is just one of the great features that makes A+ Federal Credit Union one of the best credit unions in Austin.
In addition to traditional banking services such as checking and savings accounts, this Austin credit union also offers a wide variety of loan services with very competitive rates. These services include:
- Auto loans
- Education loans
- Home loans
- Lines of credit
- Motorcycle, ATV, and 4 wheeler loans
- Boat and watercraft loans
- RV loans
- IRA loans
- Business loans
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Amplify Credit Union Review
Amplify Credit Union got its start as IBM Texas Employees Federal Credit Union in 1967. This credit union in Austin has been serving the Austin area ever since then, growing to include more than 57,000 members and over $800 million in assets.
The Austin credit union currently holds eight locations across Austin, Round Rock, and Cedar Park, TX, and is a member owned financial cooperative.
Key Factors That Enabled This Firm to Rank as a Best Credit Union in Austin
Below are key factors that enabled Amplify Credit Union to be rated as one of this year’s top credit unions in Austin.
Amplify Credit Union offers its members free checking that comes without the fees and balance requirements of many other financial institutions. Free checking from this top ranked credit union in Austin comes with many benefits, such as:
- No monthly maintenance or service fees
- No minimum monthly balance
- Only a $25 minimum required to open an account
- Free debit card
- Online and mobile banking
When compared to other big name financial institutions, the benefits of Amplify Credit Union’s free checking speak for themselves.
Source: Amplify Credit Union
Amplify Credit Union offers a wide range of wealth management options to its members. These include:
- Financial planning
- Education funding
- IRAs and retirement planning
- Retirement income planning
- Investment management
A unique advantage that members of this Austin area credit union enjoy is certified financial planners available onsite to work with members on reaching their financial goals.
This Austin credit union also offers self-directed online trading for those who wish to make their own investment decisions. Amplify provides members who wish to utilize online trading with tools such as quotes, charts, and analyses to help them make informed decisions.
Commercial Accounts and Loans
Another reason that Amplify Credit Union is considered one of the best credit unions in Austin is their commitment to helping businesses grow.
This commitment can be seen in the wide range of commercial products they offer.
They offer a range of business accounts, including:
- Business checking
- Business savings
- SEP Plans
- Simple IRAs
They also offer a myriad of business loan options, including:
- Commercial real estate loans
- Construction and development loans
- Small business loans
- Secured loans and lines of credit
- Business credit cards
Austin Telco Federal Credit Union Review
Austin Telco Federal Credit Union operates 24 branches in the Austin metropolitan area with over $1.3 billion dollars in assets. Members of this Austin credit union can be rest assured that their money is in safe hands.
Austin Telco takes the credit union mission statement of “people helping people” seriously. This top rated Austin credit union strives to show its commitment to fulfilling this philosophy through the many efforts it makes to benefit its members as well as the communities where it resides.
Key Factors That Enabled This Firm to Rank as a Best Credit Union in Austin
Below are key factors that enabled Austin Telco Federal Credit Union to be rated as one of this year’s best credit unions in Austin.
Being a member of Austin Telco Federal Credit Union certainly has its advantages. One of the many perks offered to members of this Austin credit union is discounts at some of the area’s major attractions. These include:
- SeaWorld and Aquatica San Antonio
- Schlitterbahn Water Park
- Fiesta Texas
In addition to traditional banking products, Austin Telco also offers its members a variety of insurance options to support their insurance needs. Coverage is offered for many different situations, including:
- Boats, Watercrafts, and RVs
Austin Telco Credit Union strives to offer comprehensive coverage at the best prices and on average saves customers who switch an additional $503.50 a year.
Low Loan Rates
Because it is member owned and not-for-profit, Austin Telco is able to offer its members incredibly low rates on loans. This Austin credit union boasts auto loan rates starting as low as 1.75%.
They also make no secret of the rate that members will qualify for based on their credit score, publishing the rates for each score range on their website. It is this type of transparency that landed them our list of the best credit unions in Austin.
Austin Telco Federal Credit Union is committed to customer convenience. This can be seen in the eSign feature offered by this Austin credit union.
ESign allows loan documents to be signed right at home using a computer, smartphone, or tablet. The loan documents are then delivered electronically and the loan is funded quickly by this top rated credit union in Austin.
This allows members to obtain a loan without the hassle of having to schedule a trip to a branch.
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Capitol Credit Union Review
Capitol Credit Union has enjoyed a long and rich history in Austin. The member owned credit union in Austin started out being housed in the basement of the Capitol Building, until it outgrew its location and opened its own building on Lavaca Street in downtown Austin in 1978, where it still operates today.
The current president of Capitol Credit Union is Pierre Cardenas.
Key Factors That Enabled This Credit Union to Rank as a Best Credit Union in Austin
Below are key factors that enabled Capitol Credit Union to be rated as one of this year’s best credit unions in Austin.
Capitol Credit Union offers a scholarship program to its members. There are scholarships offered for high school seniors, as well as a scholarships available for current college or trade school students.
This top rated credit union in Austin awards scholarships based on academic achievement, financial need, and community involvement.
Capitol Credit Union’s dedication to giving back to its members is one of the reasons they are considered to be a best credit union in Austin.
Automotive Concierge Service
For those members who are in the market for a new car but are having a hard time finding the time required to find the right deal, Capitol Credit Union has the answer. Through their automotive concierge service, the Austin area credit union will find the perfect car for them and deliver it right to their door or to the credit union.
This complimentary locate-to-order car service is just one of the many ways that Capitol Credit Union works to make banking with them as simple as possible.
Reloadable Prepaid Cards
Capitol Credit Union offers the option of using a reloadable prepaid card for purchases and travel. Members have three different reloadable card types to choose from:
- Reloadable cards
- Youth cards
- Travel cards
The reloadable prepaid cards can be used anywhere debit cards are accepted and can even be used internationally, making them perfect for traveling. The cards are reloadable for the life of the card and can be set up with direct deposit straight to the card.
Parents can use the Youth card to teach children about financial responsibility as well as allow them some freedom with purchases without having to worry about them carrying around wads of cash. The Travel card is perfect for traveling without having to worry about someone getting ahold of banking information.
The funds are fully replaceable in the event that the card is lost or stolen.
Free checking is a much appreciated perk at any bank. But a free checking account that earns cashback as well is golden. Capitol Credit Union offers its members a free checking account that is ripe with perks.
In addition to earning interest, the Capitol Kasasa Cash Back account from this Austin credit union comes with:
- No monthly service fees
- No minimum balance
- 2.00% cash back
- Up to $6 cash back
- $15 ATM refunds
These member perks and commitment to customer satisfaction make Capitol Credit Union one of the top credit unions in Austin.
Conclusion – Top 10 Best Credit Unions in Austin
Credit unions in Austin can offer the same services and products as banks with the added advantage of better rates on loans and savings. In addition to better rates, Austin credit unions tend to put more focus on providing friendly, top notch service to their account holders.
While banks answer to shareholders and are focused on making profits, credit unions are non-profit organizations owned by their members.
This means that when you become a member of an Austin credit union, you have a voice in how things are done. Most credit unions hold annual meetings where members can have their opinions heard and are overseen by a volunteer Board of Directors that are member elected. In many ways credit unions are self-governed organizations.
This list represents some of the best credit unions in Austin. All of the credit unions contained in this list belong to the Austin Alliance of Credit Unions which gives members access to over 300 ATMS free of charge. This added convenience is just another reason why these credit unions in Austin are considered to be the best.
All of the Austin credit unions on this list offer potential members low fees, competitive rates, strong and stable foundations, longstanding and respectable reputations, dedication to providing excellent customer service, around the clock access via online and mobile banking, and multiple convenient locations. These truly are some of the very best credit unions in Austin.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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