St. Louis Community Credit Union Review: Black-owned Credit Union With Low Fees

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St. Louis Community Credit Union Overall Rating

St. Louis Community Credit Union Pros and Cons

St. Louis Community Credit Union Regular Savings Account - Product Name Only Review

You must open a St. Louis Community Credit Union Regular Savings Account to become a member of the credit union. It's a good savings account overall; there's no monthly fee, and you'll earn interest on your balance.

St. Louis Community pays a higher rate than other brick-and-mortar institutions. But if earning a high APY (Annual Percentage Yield) is one of your main priorities, you still may prefer to bank with an online company. 

St. Louis Community Credit Union Interest (Gold) Checking Account - Product Name Only Review

St. Louis Community Credit Union has several types of checking accounts. The St. Louis Community Credit Union Interest (Gold) Checking Account could be a good fit if you intend to keep at least a St. Louis Community Credit Union Interest (Gold) Checking Account balance. You'll earn interest with a St. Louis Community Credit Union Interest (Gold) Checking Account balance, and you won't pay a monthly maintenance fee. You're also automatically enrolled in overdraft protection.

St. Louis Community Credit Union Share Certificate - Product Name Only Review

St. Louis Community has competitive share certificates, which are the credit union version of CDs. You only need St. Louis Community Credit Union Share Certificate to open an account, and you'll earn a solid APY. If you need to withdraw money before the term ends, you'll pay a lower penalty than you would with many institutions.

St. Louis Community Credit Union Money Market Account - Product Name Only Review

You'll need to open a St. Louis Community Credit Union Regular Savings Account to become a St. Louis Community member. But you may prefer to use the St. Louis Community Credit Union Money Market Account as your savings account if you have at least St. Louis Community Credit Union Money Market Account, because you'll earn a higher interest rate.

However, your balance also shouldn't fall below St. Louis Community Credit Union Money Market Account. Otherwise, you won't earn interest for the month.

About St. Louis Community Credit Union

St. Louis Community Credit Union is a Black-owned institution with 16 branches around Missouri. 

The credit union is part of the CO-OP Shared Branch and ATM networks. This means you have 30,000 ATMs in the network you can use for free around the US. There are also 5,600 shared branches nationwide. You can't open an account at a shared branch, but you can walk in to speak to a banker or make a transaction.

The credit union does have a mobile app, but it doesn't have many online reviews yet. Of the existing reviews, the app has 4.1 out of 5 stars in the Google Play store, and 2.5 out of 5 stars in the Apple store.

Contact customer support or visit a branch 9 a.m. to 5:15 p.m. Monday, Tuesday, and Thursday. Branches open at 10 a.m. on Wednesdays and close at 6 p.m. on Fridays. Saturday hours vary by branch.

Your deposits are federally insured by the NCUA for up to $250,000, or $500,000 for joint accounts.

How to Join St. Louis Community Credit Union 

As with any credit union, you have to become a member to bank with St. Louis Community. Here are the membership requirements:

• Live in St. Louis; or in Franklin, St. Charles, or St. Louis counties in Missouri; or in Madison, Monroe, Jersey, or St. Clair counties in Illinois.
• You can also join if you have a relative who is eligible for membership. They don't have to be a member.
• Open a St. Louis Community Credit Union Regular Savings Account with St. Louis Community Credit Union Regular Savings Account.

The Role of Black-led Financial Institutions

Black-led financial institutions serve an integral role in providing services and products to Black Americans and underserved communities. If you'd like to learn more about the history and impact, read through our Black-owned banks and credit unions guide.

St. Louis Community Credit Union is certified as a community development financial institution (CDFI). CDFIs can provide necessary financial resources to low-income and disadvantaged communities. In 2021, 71% of all lending at CDFIs went to distressed or underserved communities, according to the CDFI Fund.

St. Louis Community says it prioritizes community outreach by having branches in underprivileged neighborhoods, providing free financial education, and offering low-cost loans and accounts. The credit union also has an annual Mission Giveback day when its staff volunteers to help out in local communities.

Is St. Louis Community Credit Union Trustworthy?

The Better Business Bureau gives St. Louis Community an A+ rating. A strong BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.

The credit union doesn't have any public scandals.

St. Louis Community Credit Union FAQs

How much money can you withdraw from an ATM per day at St. Louis Community Credit Union?

At St. Louis Community Credit Union, you may withdraw up to $500 from an ATM per day. 

Where can I find St. Louis Community Credit Union locations? 

The credit union has 16 locations near St. Louis County, Missouri (Benton Park, St. Louis, Ferguson, Florissant, Jennings, Richmond Heights, St. John, Sullivan, University City, and Wellston).

Is St. Louis Community Credit Union safe? 

St. Louis Community Credit Union bank accounts are federally insured by the NCUA for up to $250,000 per depositor. The NCUA is a government agency that protects consumer's insured deposits if a credit union fails.

Methodology: How We Reviewed St. Louis Community Credit Union 

For our St. Louis Community Credit Union review, we rate bank products and services using our bank account methodology.

At Personal Finance Insider, we rate bank accounts on a scale from zero to five stars. We review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options. We'll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.

How St. Louis Community Credit Union Compares 

We've compared St. Louis Community to two credit unions in St. Louis and other parts of Missouri: First Community and Neighbors.

St. Louis Community Credit Union vs. First Community Credit Union 

You'll prefer St. Louis Community if you want to support a Black-owned institution. And although First Community has more branches, St. Louis Community is part of a larger shared network. This makes banking more convenient if you frequently travel outside of Missouri.

Although St. Louis Community pays competitive share certificate rates, First Community's rates are higher for shorter terms. First Community is also a good option if you want a high-yield checking account.

St. Louis Community Credit Union vs. Neighbors Credit Union 

St. Louis Community and Neighbors are both part of the CO-OP Connected Credit Unions network, so you can access shared branches and ATMs around the US. You'll want to go with St. Louis Community if you're looking for a Black-owned company.

You may prefer Neighbors if you want to do all your financial work with the same credit union. Neighbors has numerous products, including insurance, credit cards, and business accounts.