Blue Federal Credit Union


Overview / Commentary
307-432-5417
114 E 7th Ave
Cheyenne, WY 82001

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 June of 2019, it had grown to 261 employees and 87,066 members at 14 locations. Blue Federal Credit Union 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 Federal Credit Union Has 17-Month CD Special, Up To 2.75% APY - 10/23/2019

Blue Federal Credit Union (easy membership) has a limited-time 17-month CD Special, which can earn up to 2.75% APY. Minimum of $2k of new money to open.

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Blue FCU

Posted by: aseamons | Aug 19, 2016

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

Posted by: elarh | Nov 1, 2017

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!

Posted by: ralphh | Oct 23, 2019

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.

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Health

Health Grade Components

Overall
NCUA #7361
Year Chartered1951
Employees261
Primary Regulator
Profit Margin
Return on Assets - YTD0.86%
Return on Equity - YTD8.63%
Annual Interest Income$23.3MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.12B$1.02B
LoansQ2 2019vs Q2 2018$958.1MM$868.8MM
DepositsQ2 2019vs Q2 2018$914.8MM$839.9MM
Equity CapitalQ2 2019vs Q2 2018$110.0MM$99.7MM
Loan Loss AllowanceQ2 2019vs Q2 2018$4.7MM$5.0MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$4.8MM$3.3MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates

Rates for Blue Federal Credit Union are currently being reviewed.

Locations

Availability



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