Blue Federal Credit Union is headquartered in Cheyenne and is the largest credit union in the state of Wyoming. It is also the 290th largest credit union in the nation. It was established in 1951 and as of September of 2019, it had grown to 251 employees and 89,158 members at 14 locations. Blue Federal Credit Union's savings rates are 10X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Blue Federal Credit Union is open to anyone through joining the Blue Foundation ($5 opening deposit is your donation). Membership is also open to employees and base contractors at F. E. Warren Air Force Base, or through select employee groups.
See current membership details
Related Posts
Blue FCU
We became members of Blue FCU recently after our previous credit union merged with this group. I was a little anxious about the merger because of the necessity to be able to access funds and be able to pay bills. I was pleasantly surprised, first by the volume of information that was sent out to prior to the merger, and secondly because the merger seemed to go off without a hitch. We didn't experience any interruption in banking service during the merger process. I was able to easily switch my direct deposit as well as my direct withdrawal bills over to the Blue FCU information. For me, a bank is successful if I don't have to take the time to visit a branch or speak with someone. I prefer to do everything online, and am able to do this effectively and efficiently with Blue FCU. Very happy with our credit union!
Credit Check
Must have 3 or less credit checks in the past 2 years to qualify (per chex) opening an account
Misleading
As previously mentioned, the APY is a gimmick. Blue designed an impossibly complex "point" system that, in theory, could earn up to 4%. The requirement to earn said points includes being a member for several years, taking out multiple loans in addition to the debit/ACH requirements. More annoying, they have weird transfer limits on the amount one can deposit within a 3 month period (meaning it took a least 4 months to reach $10,000 from a Chase account I was eager to close). Additionally, lucrative 5% savings account is a bit of a gotcha as well, in the event you exceed the $1000 at any point in the month (including the earned APY earned on the last day) you forfeit the 5% and settle for 0.01% FOR THE WHOLE THING - not just funds over the threshold. Currently in the procss of closing the account (albeit slowly due to transfer limitations). #moveon
Frustrates Until You Are Blue In The Face!
I applied online over a week ago for a 5 year CD @ 3%. They kept coming back asking for more documents to be downloaded (driver's license, Social Security card, W2 statement, -- and more things than any other bank, credit union or broker ever asked for). With a high credit score and clean banking record, I kept asking them to let me fund the account before rates dropped. As time passed with no answer from them they did lower rates. And even then after more than a week they still don't reply. If it's this much trouble putting in a substantial deposit, I'm glad I won't have to worry sometime in the future about how hard they will make it to get my money back! Blue Federal Credit Union can sing the blues without me.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 7361 |
| Year Chartered | 1951 |
| Employees | 251 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.01% |
| Return on Equity - YTD | 9.98% |
| Annual Interest Income | $35.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $1.13B$1.05B |
| Loans | Q3 2019vs Q3 2018 | $965.1MM$898.8MM |
| Deposits | Q3 2019vs Q3 2018 | $934.8MM$856.7MM |
| Equity Capital | Q3 2019vs Q3 2018 | $113.8MM$102.7MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $4.7MM$4.8MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $7.7MM$3.3MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Blue Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
