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Wednesday, May 22, 2024

10 Most Respected Credit Unions in Texas for 2024

10 Most Respected Credit Unions In Texas For 2024
Andrew Allen

Written by: Andrew Allen

Andrew Allen
Andrew Allen

For nearly 20 years, Andrew has worked for financial institutions ranging from regional investment organizations to some of the largest banks in the world. At Wells Fargo, Andrew was a Consultant within the Insight and Innovation division. A graduate of the University of Georgia’s Terry College of Business, Andrew’s goal has been promoting personal financial wellness and solid money decisions. As a Staff Writer for CardRates, Andrew seeks to inform readers of solutions to help them on their path to financial freedom.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Our experts and industry insiders blog the latest news, studies and current events from inside the credit card industry. Our articles follow strict editorial guidelines.

badge for respected credit unions in Texas

Many people can attest that stars appear bigger and brighter in Texas’s night sky. But it’s not only celestial objects that seem bigger in the state. Some people believe everything is bigger in Texas. In 1845, Texas became the 28th state in the U.S. Since then, the state has produced an abundance of larger-than-life personalities and hosted unique events that are perhaps most accurately described as quintessentially Texas.

Known for its wide-open expanses, rugged beauty, Tex-Mex cuisine, and country and Western music, Texas is also home to some of the most respected financial institutions in the country. 

Numerous civic leaders and business visionaries have established credit unions in Texas, leaving the state’s residents with a plethora of banking options. We compiled this list of the 10 most respected credit unions in Texas to help consumers find an institution that best suits their needs.

Neighborhood Credit Union

#1 Most Respected Credit Union in Texas for Checking Accounts

Neighborhood Credit Union logo

A checking account is an essential component in anyone’s financial toolbox. Neighborhood Credit Union offers consumers checking accounts packed with rewards, including high-yield interest rates and refunds for ATM fees.

Depending on their employer, members may also use one of Neighborhood Credit Union’s checking accounts to receive their paycheck directly deposited in their account in advance of their payday. Each of the credit union’s checking accounts also provides consumers access to its mobile and online banking services.

Why We Love Neighborhood Credit Union

Members of Neighborhood Credit Union can use the institution’s app to refer their friends to the credit union. Successful referrals earn members points they can exchange for gift cards and prizes.  

Key Stats

  • Year Opened: 1930
  • Current Members: 62,006
  • Full-time Employees: 185
  • Assets: $1 billion

Credit Human Federal Credit Union

#1 Most Respected Credit Union in Texas for Savings Accounts

Credit Human Federal Credit Union logo

Saving money can be challenging for consumers even when the economy is stable. When inflation soars, saving money can be even more difficult. Credit Human Federal Credit Union offers members an entry-level savings account they can open with a $5 deposit. The savings account earns interest on balances of $100 and greater.

The credit union’s money market savings account provides higher interest rates to members with more significant balances, allowing them to accelerate their savings.

Why We Love Credit Human Federal Credit Union

Saving money is about more than just interest rates — it’s about a mindset. Credit Human Federal Credit Union offers its members a program to help them learn how to develop a spending plan and build their savings.

Key Stats

  • Year Opened: 1935
  • Current Members: 239,505 
  • Full-time Employees: 853
  • Assets: $4.1 billion

Austin Telco Federal Credit Union

#1 Most Respected Credit Union in Texas for Youth Accounts

Austin Telco Federal Credit Union logo

Learning about personal finance and responsible money management is beneficial at any age. Austin Telco Federal Credit Union offers children checking accounts and debit cards to introduce them to banking and help them establish sound financial habits.

The debit cards the credit union offers children contain enhanced security features, including limiting the number of transactions the cardholder can complete in a day. Cardholders cannot overdraw their accounts with a debit card, and the credit union restricts them from making international purchases.

Why We Love Austin Telco Federal Credit Union

Austin Telco Federal Credit Union offers a savings account to youth who are ready to start saving. The account does not charge a monthly fee, allowing youth to save more of their money.

Key Stats

  • Year Opened: 1941
  • Current Members: 92,341
  • Full-time Employees: 226
  • Assets: $2.4 billion

Credit Union of Texas

#1 Most Respected Credit Union in Texas for CDs

Credit Union of Texas logo

Certificates of Deposit can be a safe investment vehicle for consumers looking to avoid the volatility of riskier investments, such as stocks and mutual funds. Credit Union of Texas provides its members with various CD options that range in term from six months to five years. 

Many financial institutions impose a penalty if the account owner withdraws funds before their CD’s maturation date, but Credit Union of Texas offers a CD that doesn’t charge penalties for early withdrawals.

Why We Love Credit Union of Texas

Consumers may feel overwhelmed by the extensive selection of CDs Credit Union of Texas provides. The credit union allows members to schedule a consultation with a representative of its team to learn more about which CD is right for them.

Key Stats

  • Year Opened: 1931
  • Current Members: 165,920
  • Full-time Employees: 479
  • Assets: $2.4 billion

Texas Dow Employees Credit Union

#1 Most Respected Credit Union in Texas for Credit Cards

Texas Dow Employees Credit Union logo

Credit cards enable consumers to buy an item today and pay for it later. And credit card perks allow cardholders to earn rewards along the way. Texas Dow Employees Credit Union offers credit cards to its members that empower them to earn cash back rewards and save money on fuel purchases.

The credit union also offers credit cards designed for members building or rebuilding their credit.

Why We Love Texas Dow Employees Credit Union

Texas Dow Employees Credit Union provides tools to help members manage their credit cards. The credit union alerts members to purchases the cardholder may not have authorized. Members can use the credit union’s app to disable and enable their credit card.

Key Stats

  • Year Opened: 1954
  • Current Members: 385,822
  • Full-time Employees: 860
  • Assets: $4.6 billion

University Federal Credit Union

#1 Most Respected Credit Union in Texas for Auto Loans

University Federal Credit Union logo

Consumers who maintain good or excellent credit can often access more favorable lending deals than consumers with bad or no credit. University Federal Credit Union offers members auto loan rates based on their credit. The credit union posts a table of its auto loan rates on its website to help members understand how their credit can influence loan rates available to them.

Members can apply for an auto loan with the credit union over the phone or online.

Why We Love University Federal Credit Union

University Federal Credit Union extends convenience to its members by offering auto insurance to complement its auto loan products. Members can contact the credit union for a free auto insurance quote.

Key Stats

  • Year Opened: 1936
  • Current Members: 375,224
  • Full-time Employees: 769
  • Assets: $4 billion

Texas Trust Credit Union

#1 Most Respected Credit Union in Texas for Mortgages

Texas Trust Credit Union logo

Prospective homeowners may struggle to find a house on the market that suits their needs. Finding a mortgage should be a more straightforward process. Texas Trust Credit Union works with its members to secure a mortgage that aligns with their goals.

The credit union offers mortgages that don’t require a down payment, and it also provides 40-year mortgages, which enable homeowners to have lower monthly payments than mortgages with a lesser term.

Why We Love Texas Trust Credit Union

Texas Trust Credit Union aims to simplify securing a mortgage for its members. It provides an interactive calculator to help members determine how much they can afford to spend on a new home.

Key Stats

  • Year Opened: 1936
  • Current Members: 137,010
  • Full-time Employees: 308
  • Assets: $2 billion

GECU Federal Credit Union

#1 Most Respected Credit Union in Texas for Financial Education

GECU Federal Credit Union logo

Financial education can do more than help consumers learn what steps to take to be financially healthy — it can also help them steer clear of pitfalls that can harm them. GECU Federal Credit Union devotes a portion of its website to showing consumers how to avoid financial scams.

The credit union educates its members about the different types of scams, including social media fraud, fake charities, and money mule scams. It also lists steps members can take to make themselves less of a scam target.

Why We Love GECU Federal Credit Union

GECU Federal Credit Union offers products that can help its members guard against fraud. The credit union’s card control feature empowers members to set spending alerts and deactivate cards they’ve misplaced.

Key Stats

  • Year Opened: 1932
  • Current Members: 431,245
  • Full-time Employees: 924
  • Assets: $4.4 billion

First Service Credit Union

#1 Most Respected Credit Union in Texas for Digital Banking

Digital banking services help consumers stay on top of their finances. First Service Credit Union provides digital banking tools to help its members manage their accounts from their computers or phones. 

First Service Credit Union logo

In addition to standard digital banking functionality, such as online bill pay, the credit union also offers a money management system to help members analyze their spending habits.

Why We Love First Service Credit Union

Though digital banking tools can lessen the need for contact with credit union employees, sometimes face-to-face interactions can facilitate banking transactions. Members can use the credit union’s video banking feature to interact with First Service Credit Union’s team.

Key Stats

  • Year Opened: 1977
  • Current Members: 96,225
  • Full-time Employees: 258
  • Assets: $1.3 billion

Security Service Federal Credit Union

#1 Most Respected Credit Union in Texas for Account Benefits

Security Service Federal Credit Union logo

Security Service Federal Credit Union offers the products and services one would expect from a credit union with more than 750,000 members, including checking and savings accounts, loans, and insurance products. It also offers ancillary account benefits not found at many credit unions. 

The credit union’s Power Protected Checking account includes phone protection coverage to help its members replace or repair their lost, stolen, or damaged phones. Members can also access healthcare professionals with the account’s telehealth service.

Why We Love Security Service Federal Credit Union

Members who enjoy road trips will appreciate the Power Protected Checking account’s fuel discount feature and roadside assistance program, which provides financial assistance for towing and roadside vehicular care. 

Key Stats

  • Year Opened: 1956
  • Current Members: 775,158
  • Full-time Employees: 2,001
  • Assets: $13.3 billion

Credit unions come in all shapes and sizes. Texans take pride in their state, and they should feel similarly about their state’s credit unions.

This list of the 10 most respected credit unions in Texas for 2024 highlights financial institutions that help the state of Texas shine brightly.