CUNA Honors ‘Benefits of Membership’ Award Winners

Credit unions save members hundreds of dollars in the form of lower interest rates, higher dividends, and fewer and lower fees compared to other financial institutions, Credit Union National Association (CUNA) data shows — including Upward CU and Star One CU.

During the recent 2023 CUNA Finance Council Conference in Anaheim, CA, CUNA recognized several credit unions with Benefits of Membership Awards for the exceptional savings they provide members. The top credit unions by asset group and the annual savings they provide include the following:

Smaller Credit Unions
Less than $300 million:

• New York University FCU ($569 in member benefits) — New York, NY.
• Upward CU ($449 in member benefits) — Burlingame, CA. 

Mid-Size Credit Unions
$300 million to $1 billion:

• Heartland CU ($680 in member benefits) — Madison, WI.
• On Tap CU ($657 in member benefits) — Golden, CO.

Larger Credit Unions
More than $1 billion:

• Star One CU ($3,460 in member benefits) — Sunnyvale, CA.
• Dow CU ($1,214 in member benefits) — Midland, MI.

CUNA’s annual Benefits of Membership Report provides a customized analysis that compares individual credit union rates and fees to those of local banks, and the resulting financial benefit to members. It shows how much money your credit union puts in members’ pockets.

This report is a customized analysis that compares your credit union’s rates and fees to those at banks in your state. It shows how your credit union charges less for loans, pays higher dividends on savings, and charges fewer and lower fees. It demonstrates how much your credit union saves per member and per household. Credit unions can use this valuable information to:

• Illustrate the full value of current member savings.
• Enhance your credit union’s marketing and public relations efforts.
• Show policymakers the credit union difference.
• Track your performance over time.