Arizona’s Best Local Credit Union (2025)

FAQs

Who is the best credit union in AZ? ›

Desert Financial Credit Union

It is the largest credit union in Arizona.

Better interest rates: Credit unions typically offer higher interest rates on savings accounts because they have lower overhead costs than banks. Similarly, they offer lower interest rates on loans. Customer service: Credit unions pride themselves on offering better customer service than banks.

Credit unions are generally considered to be safer than banks during economic downturns due to their conservative approach to risk and their emphasis on financial robustness.

A good FICO Score falls between 670 and 739, while an exceptional score measures 800 and above. A good VantageScore ranges from 700 to 749, while an excellent score is 750 and above. The higher the number, the lower the perceived credit risk.

By spreading your accounts around to different federally insured banks and credit unions, you can get access to having more of your money insured by the NCUA or the FDIC. You can better manage your money and build your savings.

Just like banks, credit unions are federally insured; however, credit unions are not insured by the Federal Deposit Insurance Corporation (FDIC). Instead, the National Credit Union Administration (NCUA) is the federal insurer of credit unions, making them just as safe as traditional banks.

As a credit union with over $3.3 billion in assets, OneAZ is owned by its members, who benefit from better rates, lower fees for service and improved technology.

Is one AZ Credit Union FDIC insured? ›

Governor Mofford served as a chair of our board which helped shape the course of the Credit Union. Today, OneAZ Credit Union is the largest state-chartered federally insured credit union in Arizona.

Who is the largest credit union? Navy Federal is the country's largest credit union with around $168.4 billion in total assets and 13.2 million customers at the end of 2022, according to the latest data from the NCUA.

One of the most compelling reasons to choose a credit union over a traditional bank is the favorable interest rates on savings accounts, checking accounts, and certificates of deposit (CDs). Typically, credit unions offer higher interest rates on savings and lower rates on loans.

Banks pay taxes, whereas credit unions are not-for-profit institutions that don't pay federal taxes. Banks are accountable to shareholders who want to maximize profits. Credit unions return all profits to their members by paying higher APYs on deposits and charging lower interest rates on loans.

With a credit union, you might have to do some extensive research to compare accounts and find out what services they offer. Credit unions only serve certain groups of people and if the ones you can join don't have mobile banking or their apps aren't up to par, that could potentially be a major disadvantage.

The FICO Score is used by most lenders, and typically ranges from 300 (very poor) to 850 (exceptional).

Wells Fargo is one of the largest and most well-known banks in the United States, with a strong presence in Phoenix. They offer a wide range of financial services, including checking and savings accounts, credit cards, mortgages, and investment services.