Cobalt Credit Union is headquartered in Papillion and is the 2nd largest credit union in the state of Nebraska. It is also the 362nd largest credit union in the nation. It was established in 1946 and as of March of 2025, it had grown to 266 employees and 115,936 members at 29 locations. Cobalt Credit Union's CD rates are 4X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Cobalt Credit Union is open to those who live, work, attend school, or worship in the Nebraska counties of Cass, Dodge, Douglas, Sarpy, Saunders, or Washington, or the Iowa counties of Carroll, Crawford, Harrison, Ida, Mills, Monona, Pottawattamie, Sac, or Shelby. Employees/retirees of SpartanNash and their immediate family qualify for membership, as do immediate family members of current Cobalt Credit Union members.
See current membership details
Extremely Disappointed!
I have belonged to Cobalt Credit Union, which was previously SAC Credit Union, since 1995, when it served only the Offutt AFB community, and military retirees. At that time, it was awesome, and I trusted it with all my financial needs. The staff was extrmely competent, professional and courteous. Then, it opened its doors to anyone with a pulse and built an ostentatious building near 370 and 72nd St. I had the opportunity over a year ago to visit this building while discussing our mortgage. The monsterous building was virtually empty and it took forever to find anyone to discuss our mortgage. The person was finally located, however, she had a rude, laxidasical attitude. This was our first experience with the new staff since it opened its membership to everyone.
We recently decided we had enough with Cobalt and decided to pay off our mortgage. After attempting to handle the issue online, and finally on the phone without success, we decided to visit the facility once again today. Again, the facility was virtually empty. All of the cubicles were empty and the only persons, other that three females conversing in the main lobby, were the Branch Manager and two tellers. The teller and Branch Manager attempted for quite some time to locate someone to help us. While waiting, I purposefully watched the three females engaged in discussion. Uncomfortable, the three finally dispersed and went to their respective areas, two of which were in the empty cubicles. They continued to watch me to see if I continued watching them. Still, 80% of the cubicles remained vacant.
The Branch Manager was finally able to reach someone on the phone who gave her our payoff. We concluded our business there and left. After viewing the lack of stewardship for the funds of the patrons and constructing a monsterous facility that was obviously constructed to demonstrate unneeded opulence, we will be closing all of our accounts and discontinuing any affiliation with Cobalt. This is a sad statement of an organization that faithfully served the Offutt community for so long.
Poor Online Bank Systems
Online banking is far from user friendly.
Setup an account at the bank and asked the teller how to login. Was told I just needed to register online but now I have to make another trip back to the bank to get some kind of pass code the gal could of gave me when I was there. Not impressed and as soon as the money I deposited is released (7 days of them holding) I am pulling back out and taking to my other bank where I do not have these issues.
Terrible Company
The absolute worst credit union. They will fee you for everything and then be extremely rude when asking about charges. Example when we recently received the stimulus checks it showed as a pending deposit which normally goes through the next day. So I paid a bill that day knowing it wouldn’t go through until after the stimulus cleared. Nope they had that and three other charges go through first so they could collect 3 overdraft fees first. Then you call to ask what happened and there extremely rude. They’re prime representation of money over doing what’s right.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24917 |
| Year Chartered | 1946 |
| Employees | 266 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.29% |
| Return on Equity - YTD | 16.21% |
| Annual Interest Income | $18.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $1.34B$1.28B |
| Loans | Q1 2025vs Q1 2024 | $987.8MM$1.04B |
| Deposits | Q1 2025vs Q1 2024 | $1.16B$1.08B |
| Equity Capital | Q1 2025vs Q1 2024 | $106.3MM$107.8MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $11.4MM$10.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $7.9MM$7.4MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |
