Federal credit unions in Alaska are financial institutions that provide banking services to its membership. Alaska federal credit union members control the credit union and must meet a defined set of membership requirements such as living in certain areas or belonging to a non-profit group.

Federally chartered credit unions in Alaska also may serve specific employee groups, known as Select Employee Groups, such as teachers or employees of a specific company. These credit unions may be able to switch to a community charter, which allows them to serve anyone who lives, works, worships or attends school within a defined area.

There are three basic reasons why an Alaska state federal credit union is tax exempt:

1. An Alaska federal credit union must be a non-profit, financial cooperative that its members own.

2. Members must elect the board of directors for a credit union and the board must serve as unpaid volunteers.

3. A federal credit union in Alaska provides services to members of modest means as part of its social mission. They must also place limitations on their memberships with restrictions on the products and services they provide.

Action Steps
The best contacts and resources to help you get it done

Locate specific federal credit unions in AK by name

You can easily locate an Alaska federal credit union if you have some basic information about it such as its name or the location of one of its branches. A credit union's name will normally give you an idea of the basis of its membership, although the requirements for membership are frequently broader than this.

I recommend: The Credit Union Service Center provides detailed information on all of its registered credit unions within Alaska. Manta displays federally chartered credit unions in Alaska alphabetically by name and allows the list to be further narrowed by city.

Find an Alaska state federal credit union by location

Resources are available to locate all of the Alaska federal credit unions based in your area, which you may wish to do because residency is a common membership requirement for many credit unions.

I recommend: CU Village.com allows you to find credit unions within your zip code. If you don't find any, this locator will show the credit unions that are closest to you. The National Credit Union Administration can locate a credit union by charter number and or by location.

Join one of the federal credit unions in Alaska for which you are eligible

Examine the membership requirements of a particular Alaska employees federal credit union and the services that it provides to know if you are eligible to join and if it will provide the services you need. For example, Air Force personnel stationed in Alaska are eligible to join the Alaska USA Federal Credit Union.

I recommend: Credit Union 1 is based in Anchorage and is available to anyone who lives in the state. Alaska USA Federal Credit Union has branches throughout the state.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Natural-person credit unions serve individuals and form the majority of federally chartered credit unions in Alaska. Corporate credit unions serve natural-person credit unions by providing them with operational support, products and other services. Corporate credit unions also act as a funds clearing house for natural-person credit unions.