Hiway Federal Credit Union


Overview / Commentary
651-291-1515
111 Empire Dr
Saint Paul, MN 55103

Hiway Federal Credit Union is headquartered in Saint Paul and is the 6th largest credit union in the state of Minnesota. It is also the 259th largest credit union in the nation. It was established in 1934 and as of June of 2020, it had grown to 216 employees and 78,477 members at 3 locations. Hiway Federal Credit Union's money market rates are 14% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Hiway Federal Credit Union is open to anyone through membership in the Minnesota Recreation and Park Foundation ($10) or the Association of the U.S. Army ($40). Membership is also open to those who live, work, worship, or attend school in the Minneapolis/St. Paul metro community area. Employees of Select Employer Groups, including MnDot and the Department of Public Safety, are also eligible. (Membership requirements listed on the Credit Union's online application.)
See current membership details

Related Posts

Hiway Federal Credit Union Has Competitive Reward Checking - 8/19/2020

Hiway Federal Credit Union's (easy membership) offers a competitive reward checking account called Hi Yield Checking with a top rate on balances between $1k and $25k.

Hiway Federal Credit Union 12-Month CD Is Now Competitive - 8/13/2020

Hiway Federal Credit Union (easy membership) has very competitive tiered rates on its 12-23 month CD. The highest rate requires a $25k minimum deposit.

Hiway Federal Credit Union: CD Yields As High As 2.71% - 2/3/2020

Despite having recently lowered their rates, Hiway's longer-term CDs are still relatively attractive. 60 months, $25000 minimum, 2.71% APY 48-59 months, $25000 minimum, 2.61% APY (lower yields for smaller deposits) https://www.hiway.org/about/rates/index.html#certificates Appears to be nationally available via $10 membership in Minnesota Recreation and Park Foundation or $40 membership in Association of the U.S. Army, as per application form.

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Reviews (7)

Went Really Well

Posted by: |

I had a great experience opening an account at Hiway. They were very quick to open it, compared to some other CU's that take forever to get anything done. The contact I had with them was quite good, clear communications, knowledgeable CSR's, and very customer service oriented. I really like them a lot.

Good Experience Opening New, 5-Year CD

Posted by: |

I'd tried to open a CD at another out-of-state credit union, but was denied when they were "unable to verify your identity or other personal information." I've never had that experience before!

I turned to Hiway Credit Union. It was easy to apply and qualify for membership. Messages were answered in a timely fashion. Phone calls were answered quickly and efficiently. No glitches.

I wish opening an out-of-state CD was always this easy, and I got one of the best rates in the nation.

CD Rates Location

CD rates can be found here:
https://www.hiway.org/about/rates/index.html#certificates

I do not know why deposit accounts is not displaying them,

Highway credit union

I have found them to always be fair and consistent. They have professional staff who are able to meet all of my banking needs. I like their location as it's close to my place of employment. Parking is accessible and they are always there to great me with a friendly face. Sometimes I feel as though I am their only customer, although, in comparison to others, I don't have a lot of money there. I have a savings account there: have had it for years. They are always trying to inform me if options that may benefit me. I also have a Roth IRA through them. I have been pleased with how informative they are. They are always willing to go the extra mile, yet are always cognizant of my time. They are not pushy, yet, they make it know that there are always options. I have highly recommended them to family, friends and coworkers. I appreciate their service and plan to continue with them, indefinitely.

Total Waste Of Time

Posted by: |

Do not waste your time with this credit union. The rely their decisions on the bogus Chexsystems, so if they do not want your money there is no reason to beg them to take it. This Chesystems is becoming a true nightmare as obviously banks do not want investors shopping around for better deals and they want you locked, so they invented this Chexsystems to essentially limit how many accounts you can open in a period of time. We actually need one for banks as it is very hard to know where they stand and how sound they area financially. Unfortunately we will see lots of these failing in the next few months, so it is the customers that take huge risk here (FDIC and NCUA won't bail you out because simply they won't have money for everyone if the sky is falling - institutions like Hiway (!) will be the first to take the highway).

A Waste Of My Time - Not Recommended

Posted by: |

1) Can't fund a 5-year 3.2% CD through an ACH transfer.

2) Maximum amount of funds transfer OUT of Hiway credit union is $10k per MONTH.

3) Collects an extreme amount of personal data before customer becomes aware of all the downsides of an account.

4) Forces a new customer to "contribute" to a charity of Hiway's choice.

Read The Fine Print Carefully!!!

Posted by: |

This credit union is awful, I was a member since 1992. I would go to real bank! The people upstairs that run the credit union are rude and unhelpful. Please read anything you sign with them very carefully, especially the fine print. Did you know that this credit union can open accounts under your name without your consent? If you do choose to bank with them, read everything carefully!!!! I cannot stress that enough.



Health

Health Grade Components

Overall
NCUA #24360
Year Chartered1934
Employees216
Primary Regulator
Profit Margin
Return on Assets - YTD0.63%
Return on Equity - YTD6.09%
Annual Interest Income$21.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.40B$1.16B
LoansQ2 2020vs Q2 2019$865.6MM$837.0MM
DepositsQ2 2020vs Q2 2019$1.25B$1.02B
Equity CapitalQ2 2020vs Q2 2019$140.5MM$125.5MM
Loan Loss AllowanceQ2 2020vs Q2 2019$5.8MM$5.6MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$2.6MM$3.6MM
Real Estate OwnedQ2 2020vs Q2 2019$0$119.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Hiway 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.

Hiway Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%--IRA Savings
0.35%--Coverdell Education Savings Account
0.15%*$2k*-Share Savings
OTHER TIERS: 0.10% $5 - $2k
0.15%*$2k*-2nd Savings
OTHER TIERS: 0.10% $5 - $2k
0.15%--HSA Savings
0.15%*$2k*-Youth Savings
OTHER TIERS: 0.10% $5 - $2k
0.10%--HSA Checking
0.10%$5-Business Savings
0.10%$5-Business Savings Basic
0.10%--Business 2nd Savings Accounts
0.10%$5-WINcentive Savings

Hiway Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$100k*-Money Market Account
OTHER TIERS: 0.10% Up to $2k | 0.20% $2k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k
0.50%*$100k*-HSA Money Market
OTHER TIERS: 0.10% Up to $2k | 0.20% $2k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k
0.50%*$100k*-Business Money Market
OTHER TIERS: 0.10% Up to $2k | 0.20% $2k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k

Hiway Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.22%*$1k*$25kHi Yield Checking
OTHER TIERS: 0.10% $25k+
0.20%*$50k*-Business Commercial Checking
OTHER TIERS: 0.10% $5k - $20k | 0.15% $20k - $50k
0.10%--Benefits Plus® Checking
0.10%--Minnesota Wild Checking
0.10%--Free Checking
0.05%$2.5k-Business Elite Checking

Hiway Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%*$25k*-60 Month CD
OTHER TIERS: 1.14% $500 - $10k | 1.25% $10k - $25k
1.35%*$25k*-Business 60 Month CD
OTHER TIERS: 1.14% $500 - $10k | 1.25% $10k - $25k
1.30%*$25k*-48 – 59 Month CD
OTHER TIERS: 1.09% $500 - $10k | 1.20% $10k - $25k
1.30%*$25k*-Business 48 - 59 Month CD
OTHER TIERS: 1.09% $500 - $10k | 1.20% $10k - $25k
1.20%*$25k*-36 – 47 Month CD
OTHER TIERS: 1.00% $500 - $10k | 1.10% $10k - $25k
1.20%*$25k*-Business 36 - 47 Month CD
OTHER TIERS: 1.00% $500 - $10k | 1.10% $10k - $25k
1.00%*$25k*-24 – 35 Month CD
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
1.00%*$25k*-24 Month Step Up CD
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
1.00%*$25k*-Business 24 - 35 Month CD
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
1.00%*$25k*-Business 24 Month Step Up CD
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
0.95%*$25k*-12 – 23 Month CD
OTHER TIERS: 0.75% $500 - $10k | 0.85% $10k - $25k
0.95%*$25k*-Business 12 - 23 Month CD
OTHER TIERS: 0.75% $500 - $10k | 0.85% $10k - $25k
0.60%*$25k*-6 Month CD
OTHER TIERS: 0.40% $500 - $10k | 0.50% $10k - $25k
0.60%*$25k*-Business 6 Month CD
OTHER TIERS: 0.40% $500 - $10k | 0.50% $10k - $25k
0.50%$25-12 Month Certificate Builder
0.50%$25-12 Month Youth Certificate Builder
0.45%*$25k*-3 Month CD
OTHER TIERS: 0.25% $500 - $10k | 0.35% $10k - $25k
0.45%*$25k*-Business 3 Month CD
OTHER TIERS: 0.25% $500 - $10k | 0.35% $10k - $25k
0.25%$25-6 Month Certificate Builder
0.25%$25-6 Month Youth Certificate Builder

Hiway Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%*$25k*-60 Month IRA
OTHER TIERS: 1.14% $500 - $10k | 1.25% $10k - $25k
1.30%*$25k*-48 – 59 Month IRA
OTHER TIERS: 1.09% $500 - $10k | 1.20% $10k - $25k
1.20%*$25k*-36 – 47 Month IRA
OTHER TIERS: 1.00% $500 - $10k | 1.10% $10k - $25k
1.00%*$25k*-24 Month Step Up IRA
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
1.00%*$25k*-24 – 35 Month IRA
OTHER TIERS: 0.80% $500 - $10k | 0.90% $10k - $25k
0.95%*$25k*-12 – 23 Month IRA
OTHER TIERS: 0.75% $500 - $10k | 0.85% $10k - $25k
Locations


Hiway Federal Credit Union Locations
Branch Office5025 E 54TH STMinneapolis, MN 55417
Branch Office395 John Ireland Blvd Room B-23Saint Paul, MN 55155
Branch Office111 Empire DrSaint Paul, MN 55103

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