Hiway Credit Union is headquartered in Saint Paul and is the 6th largest credit union in the state of Minnesota. It is also the 270th largest credit union in the nation. It was established in 1934 and as of December of 2022, it had grown to 229 employees and 87,643 members at 9 locations. Hiway Credit Union's CD rates are 5X the national average, and it has a B health rating.
Field of Membership Restrictions
Hiway Credit Union is open to anyone through joining the AUSA ($40 fee), the Hiway Credit Union Foundation ($10 one-time contribution fee), or the Minnesota Recs and Park Foundation ($10 one-time contribution). Membership is also open to: (1) anyone who lives, works, worships, volunteers, or goes to school in Minnesota; (2) employees of a qualifying company or government agency; (3) family members and roommates.
See current membership details
Related Posts
10/2 - Converting To A State Charter (end of easy membership)
8/19 - Hiway Federal Credit Union Has Competitive Reward Checking
8/13 - Hiway Federal Credit Union 12-Month CD Is Now Competitive
2/3 - Hiway Federal Credit Union: CD Yields As High As 2.71%
1/19 - Stiff EWP On Long Term Cds
Good Experience Opening New, 5-Year CD
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,
Beware Hard Credit Pull
Run for new memberships "to determine what kinds of accounts you qualify for." Per customer representative, fast email response to my asking and declaring not applying for any kind of credit. Never heard THAT one before in my decades of regulating CUs.
Underwriting Is A Joke
I am a long term member, and have harmoniously transacted many loans over the years including secured and unsecured lines. I am an RN, always gainfully employed and with an exceptional credit rating and 100% repayment of every debt including all past HiWay CU Loans. I was turned down in 2021 for a consumer loan and the underwriter did not provide the required Regulation B notice of WHY I was not granted the credit. She told me to use my HiWay Visa card instead. I called and requested the consumer notice of adverse action and never received it. I used other lenders and just finished paying off my home improvements with an 836 credit score. I do not recommend HiWay CU. I strongly suspect age discrimination because I am in my late 60's but of course, I can't prove it.
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68721 |
| Year Chartered | 1934 |
| Employees | 229 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.51% |
| Return on Equity - YTD | 8.47% |
| Annual Interest Income | $50.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $1.74B$1.67B |
| Loans | Q4 2022vs Q4 2021 | $1.13B$943.9MM |
| Deposits | Q4 2022vs Q4 2021 | $1.49B$1.51B |
| Equity Capital | Q4 2022vs Q4 2021 | $103.7MM$148.9MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $5.9MM$5.6MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $5.4MM$2.5MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |