Royal Credit Union is headquartered in Eau Claire and is the 5th largest credit union in the state of Wisconsin. It is also the 107th largest credit union in the nation. It was established in 1964 and as of March of 2019, it had grown to 549 employees and 211,415 members at 50 locations. Royal Credit Union's money market rates are 3X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Royal Credit Union is open to those who live, work, or attend school in one of the 16 Minnesota or 26 Wisconsin counties. Membership is also open to those who live outside of the area and have an immediate family member who is already a member or is eligible to become one.
See current membership details
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Great Bank With Awesome Employees
I love this bank and have never had a bad experience with them. Their Osceola WI and St. Croix Falls WI sites are wonderful. Their employees are awesome and know what they are doing. I have been with them for a few years and have had only good experiences. From buying a house, buying my vehicles, starting a business account, and any questions I have had. When I purchased my recent vehicle I had approval right away and had the truck by the next day.
An underdog that acts like one
Royal Credit Union (and its predecessor, Capital Bank) has been on Rice Street for over 50 years. My family has had accounts there, and so have the church Men's Club I'm engaged with. Recently the Treasurer of the club and I (I'm the Secretary) went into Royal to get him added to our Club account. In the past this has taken just a few minutes; this time we sat and waited over 30 minutes to get this simple task handled. The one customer service person on duty seemed unaware of how to add a signer to an account; once she figured that out I had to take the form and get it signed by the pastor of our parish before they would accept it, which took another hour to do. Their accounts are inflexible and don't include features the predecessor bank did, like putting our club name on our checks, ordering checks in the larger size, or getting a debit card. We have had our account at this bank for many years, but can no longer do so; we are actively looking to move to another local bank, as our parish and many of its clubs have already done.
Not a Royal Process
I am secretary of a local non-profit organization. We bank at Royal Credit Union, and needed to add a new signer to our club account in July of this year. The new treasurer and I both went into the branch, which is just a few blocks from my home. We had to wait 15 minutes before the customer service rep was ready to see us, even though there was no one else in the bank at that time. Once we sat down with her and explained what we needed to do - a routine task for any bank - it seemed to baffle her a bit. We had to explain it two more times before she figured out what she had to do in order to print out the proper forms to add one signature to the account. Since our club is sponsored by our church, and our pastor is a signer on the account, I had to get another copy of the form, take it to him, have him sign it and bring it back, which took another half-hour. All in all this 5 minute process took nearly half a day to get done. There are other features of this credit union that don't work well for us - getting a check card, proper checks and even our account named properly seems to be impossible. We're actively looking to close our account at Royal and move it elsewhere. I can't recommend them.
Hold On A Cashiers Check
I sold my home and the proceeds were directly deposited into my savings at another bank. I got a cashier's check for $20,000 and deposited it into my checking account at RCU, where I have been a "member" since 2012. I was told by the bank issuing the check that a cashier's check is just like cash- funds are available immediately. RCU would only release $2500 of this cash today. There is a two day hold on the remainder. This is a major inconvenience and I will be taking my business elsewhere.
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66834 |
| Year Chartered | 1964 |
| Employees | 549 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.88% |
| Return on Equity - YTD | 8.13% |
| Annual Interest Income | $25.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $2.50B$2.28B |
| Loans | Q1 2019vs Q1 2018 | $2.19B$1.96B |
| Deposits | Q1 2019vs Q1 2018 | $2.19B$1.99B |
| Equity Capital | Q1 2019vs Q1 2018 | $266.0MM$244.0MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $18.0MM$12.7MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $14.3MM$14.4MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $194.00K$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Royal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.02%* | $10k* | - | HSA Checking | ||
| OTHER TIERS: 1.00% → Up to $1k | 1.26% → $1k - $5k | 1.51% → $5k - $10k | |||||
| 0.80% | $5 | - | RCU Savings Account | ||
| 0.80% | $5 | - | Easy Save IRAs Investment | ||
Royal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.36%* | $100k* | - | Money Market Account | ||
| OTHER TIERS: 0.80% → Up to $10k | 0.95% → $10k - $25k | 1.26% → $25k - $100k | |||||
Royal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | - | - | Smart Checking PLUS | |
| 0.40% | - | - | Royal Advantage Plus |
