What is the largest credit union bank?
Navy Federal Credit Union is the world's largest credit union with 10.8 million members and has over 32,000 employees. It has 345 branches, serving the men and women of the Armed Forces, Department of Defense, veterans and their families.
| Rank | Profile | Region |
|---|---|---|
| 1. | Navy Federal Credit Union | North America |
| 2. | State Employees Credit Union | North America |
| 3. | BECU | North America |
| 4. | Pentagon Federal Credit Union | North America |
Navy Federal Credit Union is the world's largest credit union with 10.8 million members and has over 32,000 employees. It has 345 branches, serving the men and women of the Armed Forces, Department of Defense, veterans and their families.
As of December 31, 2022, there were 4,760 federally insured credit unions in the United States with 135.3 million members.
- No. 1 — Navy Federal Credit Union.
- No. 2 — State Employees' Credit Union.
- No. 3 — Pentagon Federal Credit Union.
- No. 4 — Boeing Employees' Credit Union.
- No. 5 — SchoolsFirst Federal Credit Union.
- No. 6 — Golden 1 Credit Union.
- No. 7 — America First Credit Union.
- No. 8 — Alliant Credit Union.
| Rank | Credit Union Name | Total Assets |
|---|---|---|
| 1 | NAVY FEDERAL CREDIT UNION | $ 156,645,098,590 |
| 2 | STATE EMPLOYEES' | $ 50,970,401,964 |
| 3 | PENTAGON (PenFed) | $ 35,526,359,912 |
| 4 | BOEING EMPLOYEES (BECU) | $ 28,780,643,575 |
- JPMorgan Chase – $3.31 Trillion. ...
- Bank of America – $2.41 Trillion. ...
- Citigroup – $1.714 Trillion. ...
- Wells Fargo & Co. ...
- U.S. Bancorp – $591.21 Billion. ...
- PNC Financial Services – $553.39 Billion. ...
- Truist Financial Corporation – $534.19 Billion. ...
- Goldman Sachs – $513.91 Billion.
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| Citi® | 4.0 |
New York-based JPMorgan Chase Bank tops the Federal Reserve's list of largest banks by consolidated assets owned at $3.40 trillion, of which $2.65 trillion represents assets owned domestically.
What is the best credit union to bank with?
- Alliant Credit Union. Alliant offers an above-average interest rate for savings. ...
- Consumers Credit Union. ...
- Navy Federal Credit Union. ...
- Connexus Credit Union. ...
- First Tech Federal Credit Union.
PenFed Credit Union
PenFed offers competitive APYs, including strong certificate rates. Anyone is eligible to join the credit union; the only requirement is that you open a savings account with an initial deposit of at least $5. PenFed offers a vast network of free ATMs — more than 85,000 across the country.
Texas leads the way with one of the highest numbers of credit unions in the country. The Lone Star State boasts a diverse credit union landscape, from small community-based credit unions to large regional ones.
OneUnited Bank is the nation's largest Black-owned and FDIC-insured bank.
Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.
So you're thinking of joining Navy Federal Credit Union? Good news. If you're a servicemember, veteran of any branch of the armed forces or a Department of Defense employee, then you're eligible to join. Your immediate family and household members are also eligible.
| Financial Institution | Why We Picked It |
|---|---|
| Blue Federal Credit Union | Best Overall |
| Liberty Federal Credit Union | Best for Checking |
| Alliant Credit Union | Best for a Savings Account |
| Service Credit Union | Best for Military Individuals & Families |
- As of April 2024, no banks are offering 7% interest rates on savings accounts.
- Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.
1. Navy Federal Credit Union. Navy Federal is the largest credit union in the country. It has more than 300 branches (which rivals one or two of the biggest banks in the U.S.), mainly in the Northeast, and more than 12 million members, totaling $144 billion in deposits.
Credit unions can be ideal for a low-interest loan, lower mortgage closing costs, or reduced fees, but you'll need to qualify for membership. Larger banks may offer you more choices regarding products, apps, and international or commercial products and services, and anyone can join.
How big is Alliant Credit Union?
Alliant Credit Union is a not-for-profit financial cooperative with more than 850,000 members and nearly $19 billion in assets. Alliant was named one of CNBC's Top Credit Unions for 2023 and one of Money.com's Best Banks for America.
Above all, one of the most acclaimed credit union advantages is that all deposits remain secured. You won't lose your hard-earned money because the National Credit Union Association (NCUA) backs credit union deposits. Each depositor's account is insured for up to $250,000.
(NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Company (NYSE:WFC) are some of the most profitable banks in America.
The largest bank failure ever occurred when Washington Mutual Bank went under in 2008. At the time, it had about $307 billion in assets. During the uncertainty of the banking crisis, however, Washington Mutual experienced a bank run where customers withdrew almost $17 billion in assets in less than 10 days.
