• CU Station™  goal is to bring consumers to Credit Unions making it easier to match eligibility to the products most interested to the consumer.   If we can do that, we’ve met our goal. 
• CU Station™ does not receive revenue from advertising a Credit Union’s products or services

• Transparency means making it easier to understand information that is generally complex and public.  This information happens to focus on Credit Unions and the products they offer.   Additionally, when CU Station™ works with a Credit Union to enhance their scores, we will make that publically known as well.  

• This score uses information pulled from www.ncua.gov and aggregates a composite score that reflects multiple measures and subject areas.  A higher score means better performance and health of the Credit Union.  

Credit Unions have special governing rules that require their organization to focus on different components.  Some of these components are religious based, military based, low income designation, and more importantly region and special groups like teachers.  

In order to establish a checking account, savings account, or loan with a credit union, a person has to meet their specific eligibility criteria.  

CU Station™ supports this process with you and for you. 

CU Health Scores are a composite score containing publicly available information from www.NCUA.gov .  CU Station™ processes that information to create a score based on the differing measures and subject areas.   Scores start with the average performing Credit Unions and raises with growth, performance, or lowers with poor performance, fraud, and mismanagement of member share funds.  

A service is the process of executing a loan.  For example, Credit Unions hire loan underwriters to assist with the service of processing the paperwork accurately for the necessary governmental regulations. 

A loan is a product that Credit Unions offer.  There are multiple types of loans and in some cases multiple subtypes of loans like home loans.  

A checking account is a type of bank account that allows you to deposit and withdraw money for daily transactions. It is one of the most common types of bank accounts and is often used for everyday expenses, bill payments, and receiving direct deposits from employers or government benefits.

Features of a checking account typically include:

Debit Card: A card linked to your account that allows you to make purchases or withdraw cash from ATMs.

Check Writing: The ability to write checks to pay bills or transfer money.

Online and Mobile Banking: Access to your account through the internet or a mobile app to check balances, transfer funds, pay bills, and more.

Direct Deposit: The ability to have your paycheck or other income directly deposited into your account.

Overdraft Protection: A feature that allows you to avoid insufficient funds fees by linking your checking account to a savings account or line of credit.

Checking accounts can have fees, such as monthly maintenance fees, overdraft fees, or ATM fees, but many banks and credit unions offer free checking accounts with no or low fees, especially if you meet certain requirements like maintaining a minimum balance or setting up direct deposit.

A savings account at a credit union is a type of deposit account specifically designed for saving money. Similar to savings accounts at banks, these accounts typically offer interest on the funds deposited, providing an opportunity for your savings to grow over time. Credit union savings accounts are often used for setting aside money for future expenses, emergencies, or long-term financial goals.

Key features of a savings account at a credit union include:

Interest Earnings: Money deposited in a savings account earns interest, which is usually compounded daily or monthly.

Safety: Funds in a credit union savings account are insured up to $250,000 by the National Credit Union Administration (NCUA), a federal agency, providing a similar level of protection as FDIC insurance for banks.

Accessibility: While savings accounts are intended for saving, you can typically access your funds when needed through withdrawals or transfers, subject to certain limitations.

Low Fees: Credit unions are not-for-profit organizations, so they often offer savings accounts with lower fees compared to banks.

Membership: To open a savings account at a credit union, you usually need to become a member of the credit union, which may involve meeting specific eligibility criteria and paying a small membership fee or deposit.

It’s important to note that while savings accounts are great for earning interest on your deposits, they may have withdrawal limits or restrictions to encourage saving. Always check with your credit union for the specific terms and conditions of their savings accounts.

During the CU Station™ process, there are a couple of options available that will allow CU Station™ to work with you and a Credit Union.   

• • 1.) If you find a product and rate you like, you can have us send your information to the Credit Union to have them contact you.  
  • 2.) If you find a product and rate you like and CU Station has a partnership with the Credit Union for electronic information exchange, you can fill out the additional information and we will electronically start the loan process for you. 

Importance is understood with what you are wanting to research or understand.  There are different levels of analysis and CU Station™ likes to recommend users start with Total Assets and Total Member count.  Are those numbers growing over time? If they are, it is a good sign that the health of the Credit Union is good.  

More advanced analysis looks at the different ratios and the trends to understand financial patterns and how assets are being managed. 

Typically you’ll see the following types of loans at a Credit Union:

• Personal Loans: Unsecured loans that can be used for a variety of purposes, such as consolidating debt, financing a major purchase, or covering unexpected expenses.
• Auto Loans: Loans specifically for the purchase of a new or used vehicle.
• Home Loans: Loans used to purchase a home or to refinance an existing mortgage.
• Home Equity Loans and Lines of Credit (HELOCs): Loans or lines of credit that are secured by the equity in your home.
• Student Loans: Loans to help cover the cost of education, including tuition, fees, and living expenses.
• Business Loans: Loans designed to meet the needs of small businesses, including term loans, lines of credit, and commercial real estate loans.
• Payday Alternative Loans (PALs): Short-term loans offered by some credit unions as an alternative to high-cost payday loans.
• Recreational Vehicle (RV) and Boat Loans: Loans for the purchase of recreational vehicles like campers, boats, and motorcycles.

Prequalification is a process where a person can enter required information such as name, phone number, annual income, social security number, and others to allow for an automated system run by the Credit Union to determine ahead of time whether you qualify