UW Credit Union

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University of Wisconsin Credit Union
Type Credit union
Industry Financial services
Founded 1931
Headquarters Madison, Wisconsin, USA
Key people Paul J. Kundert, President and Chief Executive Officer[1]
Products Savings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets $1.1 billion USD[2]
Employees 341[3]
Website uwcu.org

The University of Wisconsin Credit Union (doing business as UW Credit Union) is a credit union headquartered in Madison, Wisconsin.

As of January 2011, UW Credit Union has over 150,000 members with over $1 billion in assets and is the fourth largest credit union in the state of Wisconsin.[4] UW Credit Union currently operates 19 branches in Madison, Milwaukee, Whitewater, Green Bay, Oshkosh, and Stevens Point, Wisconsin.

UW Credit Union provides an array of financial services including educational loans, mortgages, consumer loans, checking, savings and investment products, credit and debit cards. UW Credit Union also provides the following electronic services, Web Branch (online banking), online bill payment, TouchTone Teller phone service, direct deposit, and ATMs.

History[edit]

Founded in 1931 by six University of Wisconsin–Madison professors in the basement of the UW Student Housing Bureau, it was originally known as the University Faculty Credit Union (UFCU). In 1970, the name was changed to the University of Wisconsin Credit Union.

Membership eligibility[edit]

Membership in the UW Credit Union is open to any of the students, faculty, staff, and alumni of the University of Wisconsin System, including all 26 campuses and the University of Wisconsin–Extension—as well as their immediate family and households. Likewise, Edgewood College students, faculty, staff, alumni are eligible to join. People who have worked for the Wisconsin Interscholastic Athletic Association, Covance Clinical Research Units, and members of the community that live, work or attend school within 5 miles (8 km) of a branch, are also welcome to be members.

Expansion[edit]

In 2009, the UW Credit Union acquired land in Fitchburg where it plans to build a 5,400 square feet (500 m2) branch.[5] It has agreed to buy a building formerly occupied by Amcore Bank at 2365 Mayfair Road in Wauwatosa, near Milwaukee[6] and plans to open a branch in the building in Spring 2010. The purchase does not include customer accounts.

Debit cards[edit]

The UW Credit Union is now able to print new debit cards while the customer waits, rather than relying on an outside supplier to manufacture and mail the card to the customer's home.[7]

References[edit]

  1. ^ "UW Credit Union Governance". Retrieved December 31, 2009. 
  2. ^ "Statistics for Federally Insured Credit Unions". Retrieved May 7, 2009. 
  3. ^ "About UW Credit Union". Retrieved December 31, 2009. 
  4. ^ Gores, Paul (August 18, 2011). "New UW Credit Union branch will be built". Milwaukee Journal Sentinel. Retrieved December 31, 2011. 
  5. ^ Lutz, James (May 6, 2009). "Bank Branch Coming To Fitchburg University of WI Credit Union Buys 1.5 Acres for $1.3M". Costar. Retrieved November 16, 2009. 
  6. ^ "UW Credit Union to buy Amcore building". The Business Journal of Milwaukee. August 3, 2009. Retrieved November 16, 2009. 
  7. ^ McLaughlin, James (February 6, 2009). "Focus on Banking & Wealth Management Banks shorten turnaround time on debit cards". The Business Journal of Milwaukee. Retrieved November 16, 2009. 

External links[edit]