Finding the right financial institution often feels like trying to pick a needle out of a haystack. You want great rates, but you also want to feel like a person rather than an account number. If you live in Western Wisconsin or the Twin Cities metro area, you’ve likely seen the blue and white signs for Royal Credit Union.
But seeing a sign is different from actually banking there. Is it just another place to park your money, or does it offer something different?
I’ve spent years analyzing the banking landscape, looking specifically at how regional credit unions stack up against big national banks. Royal Credit Union (often called RCU by locals) has carved out a massive presence in the Midwest. In this guide, we are going to walk through exactly what they offer, who can actually join, and whether their digital tools hold up in a world where we do everything from our phones.
What Is Royal Credit Union?
Overview of Royal Credit Union
Royal Credit Union is a not-for-profit financial cooperative. Unlike a traditional bank that answers to shareholders, a credit union is owned by its members. This is a critical distinction because it dictates how they operate. When a bank makes a profit, that money typically goes to investors. When Royal makes a profit, it generally goes back to members in the form of lower loan rates, higher interest on savings, or fewer fees.
Headquartered in Eau Claire, Wisconsin, Royal has grown significantly over the years. They aren’t a small, single-branch operation anymore. They manage billions in assets and serve hundreds of thousands of members across state lines. Despite this growth, they have maintained a reputation for being approachable. You walk into a branch, and the vibe is distinctively “Midwest nice”—people actually look you in the eye and ask how you’re doing.
Mission and Values
At its core, Royal operates on a value system centered on “making a positive impact.” It sounds like corporate speak, but in the credit union world, this usually translates to tangible actions. They focus heavily on financial education and inclusion. Their goal isn’t just to sell you a mortgage; it’s to make sure you understand what you’re signing.
They operate with a set of core values that prioritize doing the right thing over making a quick buck. This is why you’ll often see their loan officers spending extra time explaining debt-to-income ratios to first-time homebuyers rather than rushing them through the process.
Community Impact and Contributions
One thing that stands out about Royal is how visible they are in the community. If there is a local run, a music festival, or a school fundraiser in Eau Claire or the Twin Cities, there is a good chance you’ll see the Royal logo.
They don’t just write checks; they show up. They run school-site branches—literal student-run credit union branches inside high schools and middle schools—to teach kids about money management practically. This hands-on approach to financial literacy is rare and speaks volumes about their long-term investment in the communities they serve.
Membership Eligibility
Who Can Join Royal Credit Union?
This is the most common question people have. There is a myth that credit unions are exclusive clubs that are hard to get into. That used to be true decades ago, but today, Royal Credit Union has a very broad field of membership.
You don’t need to work for a specific tire factory or government agency to join. Membership is largely geography-based. If you live, work, or attend school in specific areas, you are in.
Counties Served in Wisconsin and Minnesota
Royal’s footprint covers a significant chunk of Western Wisconsin and the Minnesota metro area.
In Wisconsin, they serve 26 counties. If you are in Eau Claire, Chippewa, St. Croix, or Dunn counties, you are definitely eligible. They also cover areas extending north toward Hayward and south toward the Mississippi River.
In Minnesota, their reach includes 16 counties. This includes the major metro counties like Hennepin (where Minneapolis is), Ramsey (St. Paul), Dakota, and Washington.
Essentially, if you have a connection to the I-94 corridor connecting the Twin Cities to Western Wisconsin, you likely qualify.
How to Apply for Membership
Joining is straightforward. You open a “share savings account.” This is the foundational account that establishes your ownership stake in the credit union.
You can walk into any branch to do this, but the online application is efficient. You will need:
- A government-issued ID (Driver’s license or passport)
- Your Social Security number
- A small initial deposit (usually $5) to fund your share savings account.
Once that $5 is in, you are a member for life, even if you move away from the area later.
Financial Products and Services
Savings and Checking Accounts
Royal offers a tiered approach to checking. They have a basic, no-fee checking account which is what most people opt for. It doesn’t have minimum balance requirements, which is a huge relief compared to big banks that charge you $12 a month just for existing.
For savings, they have the standard share account, but they also offer money market accounts and certificates (CDs) for people looking to earn higher interest rates on larger balances.
Loan Options (Home, Auto, Personal)
Lending is where credit unions usually shine, and Royal is no exception.
- Auto Loans: Their rates for car loans are typically very competitive, often beating out dealer financing.
- Mortgages: They service their own mortgages in many cases, meaning if you have a question about your payment, you call Royal, not a call center overseas. They offer everything from first-time homebuyer programs to construction loans.
- Personal Loans: These are useful for debt consolidation or unexpected expenses, offering a fixed rate that is generally lower than a credit card.
Credit Cards and Rewards Programs
They offer a straightforward lineup of Visa credit cards. You won’t find the complex, travel-hacking point systems you might get with an Amex Platinum, but you will find low interest rates and no annual fees. Their rewards card offers cash back, which for most families, is more practical than airline miles anyway.
Business Banking Solutions
For local business owners, Royal is a strong partner. They offer commercial lending, business checking, and merchant services. Because decisions are often made locally or regionally, the approval process can feel more personal and faster than waiting for an algorithm at a national bank to approve your small business loan.
Digital Banking with Royal Credit Union
Features of the Mobile App
Let’s be honest: good rates don’t matter if the app crashes every time you try to check your balance. Royal has invested heavily in their digital platform. The mobile app allows you to:
- View balances instantly.
- Deposit checks by taking a photo (Mobile Check Deposit).
- Transfer money between accounts.
- Pay bills.
It’s functional and user-friendly. It might not have the flashy interface of a fintech startup, but it works reliably for day-to-day banking needs.
Online Banking Capabilities
Their desktop online banking platform mirrors the app but offers more depth. This is where you would go to download statements for taxes, set up complex recurring transfers, or export data to budgeting software. It’s robust enough that you rarely need to visit a branch unless you have cash to deposit or need a notary.
Security Measures for Digital Banking
Security is a top priority. They use multi-factor authentication (MFA) and encryption to protect your data. They also offer features like card controls, allowing you to “freeze” your debit card instantly from the app if you lose your wallet—a lifesaver that prevents panic while you retrace your steps.
How Royal Credit Union Supports the Community
Financial Education Programs
I mentioned this earlier, but it deserves its own section. Royal’s financial education team is active. They don’t just put PDFs on a website; they go into classrooms. They teach budgeting, credit scores, and savings strategies to thousands of students annually. This proactive approach helps prevent financial problems before they start.
Community Events and Sponsorships
From sponsoring the local marathon to supporting food drives, their marketing budget often doubles as a community support budget. It reinforces the idea that your money is staying local. When you pay interest on a loan, that income supports local jobs and local events, rather than padding a bottom line on Wall Street.
Environmental and Social Initiatives
Royal has also taken steps toward sustainability, incorporating energy-efficient designs in their newer branches and reducing paper waste through digital initiatives. They view their social responsibility holistically—financial health and community health go hand in hand.
Frequently Asked Questions
How Do I Open an Account?
You can open an account online through the Royal Credit Union website or visit any branch location. You’ll need a valid ID, Social Security number, and a $5 deposit to establish your membership share. The process typically takes less than 15 minutes.
What Are the Benefits of Membership?
The primary benefits include lower interest rates on loans, higher yields on savings, and lower fees compared to traditional banks. Additionally, members have a vote in how the credit union is run and gain access to free financial counseling and education resources.
How Do I Contact Customer Support?
You can reach member service by phone, usually with shorter wait times than national banks. They also offer secure messaging through their online banking portal and mobile app. For face-to-face help, their branch network is extensive across their service regions in MN and WI.
Conclusion
Why Choose Royal Credit Union?
Choosing a bank is personal. If you need a branch on every corner in every state across America, a national bank might be better. But if you live in Minnesota or Wisconsin and want a financial partner that treats you like a neighbor, Royal Credit Union is a compelling choice.
They offer the technology you need to bank conveniently, combined with the ethical, member-first structure of a cooperative. You get competitive rates on your car and home loans, and you sleep better knowing your money is circulating within your own community.
Next Steps to Get Started
If Royal sounds like a good fit, check their website to confirm you are in an eligible county. From there, the online application is the fastest way to get started. You could be a member, with your new account number in hand, before you even finish your morning coffee.
