UW Credit Union is a consumer-oriented financial services cooperative and is governed by a member-elected board. They have 25 full-service branches in several areas of Wisconsin as well as more than 100 surcharge-free ATMs. They are federally insured by the Nation Credit Union Associated, have 220,000 members and 505 employees, and currently have $2.3 billion in assets.

The Good

UW Credit Union offers good things to potential customers, however, we have found that these benefits don’t shine above a lot of other credit unions out there yet. Here are some of the best highlights to UW Credit Union.

Rank Chart
Checking Account Rate
Overdraft Policy
Our Score
#1
4.07%
7.3
#2
2.35%
6.1
#3
1.50%
6.0
#27
uw-credit-union-logo
0.01%
3.7

AMV Technology

AMV Technology is the credit cards with small chips in them. The purpose of the chips is to help secure transactions that will hopefully limit the number of fraudulent activity and hacks. UW has made this transition with their debit cards which benefits all of their customers.

Initial Deposit

Another nice perk is that UW Credit Union only requires $5 in a savings account when trying to set it up. Others ask for up to $30 to start an account. If you’re just trying to find a place to store your money, possibly for small children, this is a great option.

Loan Rates

We found the UW Credit Union has good automobile loan interest rates that can range anywhere from 2.24-4.05% as well as personal or unsecured loan rates that start at 9.90%. Even though we have seen slightly better rates elsewhere, we still find these to be pretty competitive with other credit unions.

The Bad

UW Credit Union has a lot of missing features that potential customers can view as valuable. Several things from financial rates to security and technology are missing with UW. Customers have complained that UW Credit Union is stuck in their ways and not looking at updating their features often enough.

Minimal Account Interest Rates

When a customer signs up with a credit union, they can typically expect some type of interest rate. Unfortunately, UW Credit Union offers such a little interest rate that many might feel like it’s not even making an earning at all. Their checking account interest rate is only 0.01% and their savings account is only 0.03% APY. This is one of the lowest we’ve seen with any credit union and puts a big hit to their Overall Score as a company.

No Mobile Features

Many credit unions are moving towards adding features on mobile devices that can help with convenience for their customers. UW Credit Union does offer an app, but it only does the bare minimum. They currently do not offer mobile wallet features or mobile check deposit features which are both very popular right now.

Overdraft Protection and Fees

UW Credit Union also does not offer an overdraft protection which is the option to automatically transfer money from one account to another when one does not have enough funds for a transaction. We have found that what separates a top-choice credit union from another are those that offer these types of small benefits to their customers. It’s an added layer of protection. Since UW does not offer overdraft protection, their customers will automatically be hit with the $30 overdraft fee any time sufficient funds are not readily available in an account.

Locations and ATMs

UW Credit Union is based in Wisconsin, and because of the small focused area, they do not really need to offer as many locations. They currently have 25 branches and 71 ATMs. Even though Wisconsin residents might find this as “enough”, when you compare their amount of locations and ATMs to the rest of the industry, we find that credit unions who offer membership to people all over the US have hundreds of branch locations and tens of thousands of ATMs options. Unfortunately, the comparison puts UW Credit Union at the lower end of the spectrum which also puts a dent in the company’s score.

The Bottom Line

UW Credit Union doesn’t seem to be up-to-date with a lot of the new benefits and perks a lot of other credit unions are offering nowadays. We also see that their interest rates are really low for their account earnings. This has a big negative impact to the credit union’s Overall Score. They are going to have a hard time competing with national credit unions that have a lot more competitive rates and with a ton of features. UW Credit Union is a good choice for residents of Wisconsin, but we see a lot of areas in which they can improve their services to their potential customers.

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