Valley National Bank Ridgewood Branch Phone Number

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How to Join a Credit Union in the United States

Credit unions offer excellent options for savings accounts, checking accounts, and personal loans. While some may feel intimidated by terms like “eligibility” and “membership,” opening a credit union account is a simple and straightforward process.

Follow These 3 Easy Steps to Become a Credit Union Member:

1. Check if you meet the eligibility requirements (often easier than expected).
2. Open your account with a small deposit (typically $5 to $25) to become a member-owner.
3. Start using your credit union account and services.

You all need to provide the following information when opening your account:

1. Social Security Number (SSN) or Tax Identification Number (TIN)
2. Your physical address (a separate mailing address can also be used)
3. Valid government-issued ID (e.g., driver’s license or passport)
4. A reason for membership (e.g., employment, family member, or residency)

The benefits of opening a Valley National Bank account

Extra protection:

Depositing money in a bank account is safer than keeping a stack of currency in a drawer. Banks and credit unions offer deposit insurance up to $250,000. That peace of mind is an invaluable perk of the banking industry.

Lower fees:

Without a bank account, cashing a check can cost quite a bit of money. From using check-cashing services or prepaid debit cards, alternatives to traditional checking accounts can eat into earnings.

Credit-building opportunities:

Establishing a relationship with the banking industry can provide a gateway to even bigger life goals such as buying a car and owning a home. In fact, some banks have made it a mission to help non-U.S. citizens on the path toward homeownership.

Saving for the future:

Having a checking account is a good step for anyone’s personal finances, and opening a savings account is the next building block of smart financial decisions.