Royal Credit Union

Overview / Commentary
200 Riverfront Ter
Eau Claire, WI 54703

Royal Credit Union is headquartered in Eau Claire and is the 5th largest credit union in the state of Wisconsin. It is also the 95th largest credit union in the nation. It was established in 1964 and as of September of 2020, it had grown to 537 employees and 233,551 members at 50 locations. Royal Credit Union's money market rates are 70% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Royal Credit Union is open to anyone in Minnesota and Wisconsin through making a $5 donation to the RCU Foundation, or to anyone who lives or works in the Minnesota counties of Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey, Scott, Sherburne, Wabasha, Washington, Winona or Wright, or the Wisconsin counties of Adams, Ashland, Barron, Bayfield, Burnett, Buffalo, Chippewa, Clark, Douglas, Dunn, Eau Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Portage, Polk, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn or Wood. Immediate family are also eligible to join, regardless of their place of residence. Employees of: Marten Transport, the University of Wisconsin-Eau Claire Alumni Association, the former Uniroyal plant, or Tenneco-Packaging Corporation in the Colby, WI or Appleton, WI plants may also join.
See current membership details

Great Bank With Awesome Employees

Posted by: |

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

Posted by: |

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

Posted by: |

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

Posted by: |

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.



Health Grade Components

NCUA #66834
Year Chartered1964
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD7.72%
Annual Interest Income$87.2MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$3.30B$2.65B
LoansQ3 2020vs Q3 2019$2.69B$2.39B
DepositsQ3 2020vs Q3 2019$2.95B$2.33B
Equity CapitalQ3 2020vs Q3 2019$304.2MM$282.5MM
Loan Loss AllowanceQ3 2020vs Q3 2019$31.9MM$20.5MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$4.6MM$9.9MM
Real Estate OwnedQ3 2020vs Q3 2019$429.00K$310.00K
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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

0.85%*$10k*-HSA Checking
OTHER TIERS: 0.50% Up to $1k | 0.60% $1k - $5k | 0.75% $5k - $10k
0.25%--Savings Account
0.25%$5-Easy Save IRAs Investment
0.25%$5-Business Savings

Royal Credit Union Money Market Rates

0.75%*$100k*-Money Market Account
OTHER TIERS: 0.25% Up to $10k | 0.45% $10k - $25k | 0.65% $25k - $100k
0.75%*$100k*-Business Money Market Account
OTHER TIERS: 0.25% Up to $10k | 0.45% $10k - $25k | 0.65% $25k - $100k

Royal Credit Union Checking Account Rates

0.10%$700-Smart Checking PLUS
0.10%--Business Royal Advantage Plus Checking

Royal Credit Union CD Rates

1.51%-$250k72 Month CD
1.51%-$250k60 Month CD
1.51%--Business 60 Month CD
1.51%--Business 72 Month CD
1.00%--12 Month HSA
0.90%-$250k48 Month CD
0.90%-$250k36 Month CD
0.90%--Business 36 Month CD
0.90%--Business 48 Month CD
0.85%-$250k30 Month CD
0.85%-$250k24 Month CD
0.85%--Business 24 Month CD
0.85%--Business 30 Month CD
0.70%-$250k18 Month CD
0.70%--Business 18 Month CD
0.60%-$250k12 Month CD
0.60%--Business 12 Month CD
0.50%-$250k6 Month CD
0.50%--Business 6 Month CD
0.25%-$250k3 Month CD
0.25%--Business 3 Month CD

Royal Credit Union IRA Rates

1.51%--72 Month Fixed Rate IRA
1.51%--60 Month Fixed Rate IRA
1.16%--24 Month Variable Rate IRA
0.90%--48 Month Fixed Rate IRA
0.90%--36 Month Fixed Rate IRA
0.85%--30 Month Fixed Rate IRA
0.85%--24 Month Fixed Rate IRA
0.70%--18 Month Fixed Rate IRA
0.60%--12 Month Fixed Rate IRA


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