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Frequently Asked Questions About Credit Unions

Credit Union FAQs

Want to learn more about credit unions? You're in the right place. Below are several questions we often hear regarding credit unions and their purpose. We hope you find this information helpful.

What is a credit union?

A credit union is a member-owned financial organization that exists to serve its members rather than maximize corporate profits. Like banks, credit unions accept deposits and provide lending services. As member-owned institutions, credit unions focus on providing a safe place to save and borrow at reasonable rates. Federally insured credit unions, like United Heritage, are regulated by the National Credit Union Administration and backed by the full faith and credit of the United States Government.

What is the difference between banks and credit unions?

The main difference between banks and credit unions both in Austin, in the state of Texas and across the country is that banks are for profit and credit unions are not-for-profit financial institutions. Banks are owned by shareholders, while credit unions are owned by members (all individuals who have established an account with the credit union). Because credit unions are not-for-profit cooperatives, they are able to offer lower loan rates, higher savings yields and more personal service than many other financial institutions.

Do credit unions offer the same services as banks?

Yes! Most credit unions offer a lot of the same services as big banks. For example, United Heritage has Online Banking and Mobile Banking so UHCU members can check balances, transfer funds, make loan payments and much more – at home or on the go. Plus, the UHCU website is optimized for mobile devices so you can learn more about our banking or lending services, and even apply for a loan right on your phone. We’re always looking for opportunities to increase our service offerings and provide the latest digital banking technology as well as top of the line banking services for UHCU members. Services offered by UHCU include:

Is it difficult to become a member?

No! You are eligible to become a member of United Heritage Credit Union if you live, work, attend school or own a business in one of the following counties: Travis, Williamson, Bastrop, Caldwell, Hays, Smith or Wood. This includes the entire Austin and Tyler metro areas. We also have branches in surrounding Austin communities such as Cedar Park, Lakeway, Round Rock, Kyle, Georgetown, River Place and Westlake. Take a look at our full list of branch locations to find the location closest to where you live or work.

More information on member eligibility.

When you’re ready to become a member, the application process is simple. You can apply online in minutes or visit any UHCU branch location. If you apply online, a United Heritage representative will contact you once your membership application is received to complete the account opening.

Once I become a member, what can I expect?

As a member of United Heritage Credit Union, there are numerous financial opportunities and benefits. You’ll enjoy convenient access to your account(s), competitive loan rates, personalized service at our branches and more. The UHCU website is a great resource for in-depth information regarding your financial well-being. Our Learn content contains topics such as Life Event Planning, Financial Tips and Fraud Protection. We also post United Heritage news, alerts relevant to our members and more on the United Heritage Blog.

Why should I choose United Heritage Credit Union?

At United Heritage, we approach banking differently. We believe in handshakes, going the extra mile and treating our members like people, not account numbers. We work tirelessly to help you manage your money and build the financial future you desire. The credit union philosophy of “People Helping People” is central to United Heritage – we’re dedicated to providing quality, personalized service to our members and bettering the communities around us. If you’re new to the Austin area or are simply looking for a better place to bank, United Heritage is the right choice for you.


Ready to enjoy the benefits of membership at United Heritage? Join online today.

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More Information

More information about Becoming a Member.

Have a question? To speak to a UHCU representative, call:

512.435.4545, 903.597.7484 or 800.531.2328

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