Royal Credit Union is headquartered in Eau Claire and is the 5th largest credit union in the state of Wisconsin. It is also the 94th largest credit union in the nation. It was established in 1964 and as of December of 2020, it had grown to 587 employees and 235,458 members at 50 locations. Royal Credit Union's money market rates are 14% higher than the national average, and it has 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
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.
Love This Place, Long Time Member
I have been a member of RCU for roughly 10 years and I would absolutely recommend this credit union to ANYONE! I currently have multiple savings accounts, checking, HSA, overdraft protection, credit card, home equity loan, 1st mortgage, car loan, custodial accounts for my children and certificates. I have refinanced my home twice to lower the rate and have enjoyed my experiences with every lender I've worked with. Their rates are extremely competitive and they didn't charge me any points. I've worked with 3 of their investment reps for my kids college investment accounts as well, all fantastic.
I've never had a check held, paycheck delayed or loan application with any problems. I bought a car out of state and they even made that process easy. The branch office I use is open until 7 pm weekdays and also open on Saturday AND Sunday. Talk about convenient! Their ATMs are everywhere and I can use Kwik Trip too without getting charged fees. They've helped me buy savings bonds for my kids and redeem bonds for myself.
I LOVE their e-branch. My credit card has a rate less than 8% and I've gotten hundreds of dollars as well as a free airline ticket from my credit card rewards. There is a little "school site" branch at my son's elementary school. He brings in his money to deposit in his little RCU coin pouch. They give him stickers and suckers at the office AND they invite him to special kids functions likes free movies, a luau at the local pool and a halloween party.
Ignore those other two reviews if you are considering this place, they're junk. RCU is pretty darn awesome!
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66834 |
| Year Chartered | 1964 |
| Employees | 587 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 9.05% |
| Annual Interest Income | $118.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $3.47B$2.84B |
| Loans | Q4 2020vs Q4 2019 | $2.69B$2.51B |
| Deposits | Q4 2020vs Q4 2019 | $3.09B$2.50B |
| Equity Capital | Q4 2020vs Q4 2019 | $315.1MM$286.6MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $35.2MM$23.1MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $7.0MM$12.0MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $379.00K$271.00K |
