Government credit unions in South Dakota provide banking services such as loans to its membership. South Dakota federal credit unions members must meet a set of well-defined criteria such as membership in a non-profit group or residency within a geographical area.

Federally chartered credit unions in South Dakota 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.

Federally chartered credit unions in SD appear to be similar to banks but their tax exempt status mandates three important differences:

1. A federal credit union in South Dakota must be a non-profit, financial cooperative its members own.

2. Members must elect a board of directors who serve as unpaid volunteers.

3. South Dakota federally chartered credit unions have social missions that include services to members of modest means. A credit union has restrictions on the services and products that it provides and must place restrictions on its membership.

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

Locate a specific government credit union in South Dakota by name

You can easily locate federally chartered credit unions in South Dakota if you have some basic information such as the name or location of one of the 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 Nation Credit Union Administration can locate a credit union by charter number and also is able to find a credit union by using a word in the credit union's name. The Credit Union Service Center provides detailed information on all of its registered credit unions within North Carolina.

Find SD federal credit unions by location

Resources are available to locate all of the South Dakota 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: USA Credit Unions displays all of its credit unions in South Dakota on a single page and also has a credit union locator by name and zip code. 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.

Join one of the local federal credit unions in South Dakota

Examine the membership requirements of government credit unions in South Dakota and the services they provide to know if you are eligible to join.

I recommend: Midwest Partners Federal Credit Union is open to residents and workers in Lincoln and Minnehaha counties. Black Hills Federal Credit Union in Rapid City is open to residents and workers of Pennington, Custer, Fall River, Lawrence and Meade counties.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  South Dakota federally chartered credit unions frequently allow a broader membership base than their name implies. Smaller credit unions may merge into a single credit union with a disparate set of membership qualifications. Additionally, an individual may usually remain a member of a credit union even after he no longer meets the membership requirements, as when a member moves or changes jobs.