Babbitt Steelworkers Credit Union

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Review based on 12 criteria Rating: 0 out of 5

24 Commerce Rd, Babbitt, MN 55706

Website

(218) 827-3121

Data Source: NCUA, March 31, 2016


Babbitt Steelworkers Credit Union was founded in 1960. Headquartered in Babbitt, Minnesota, Babbitt Steelworkers Credit Union is a state chartered and federally insured credit union, being chartered in Minnesota and insured through the National Credit Union Share Insurance Fund (NCUSIF). Babbitt Steelworkers Credit Union is also a member of the Federal Home Loan Bank (FHLB) , which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of March 31, 2016, Babbitt Steelworkers Credit Union services 1,747 members through its 6 full-time employees. It has $15,161,425.00 of total assets and $1,975,885.00 of net worth. Based on its asset size and net worth ratio, Babbitt Steelworkers Credit Union is classified as a Well Capitalized medium small credit union.

Babbitt Steelworkers Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Babbitt Steelworkers Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

Babbitt Steelworkers Credit Union’s membership type is defined as State chartered natural person credit union. If you are interested in joining Babbitt Steelworkers Credit Union, please visit their website or call (218) 827-3121 for details. If you are a current member of Babbitt Steelworkers Credit Union or have used any of their services or products, please rate them and leave your comments.

The following two tables list the deplitory and loan interest rates of Babbitt Steelworkers Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Minnesota and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Minnesota
Median of USA
Checking
0.0000
0.0100
0.0000
Savings
0.0500
0.1000
0.1200
Money Market
0.0000
0.2000
0.2500
Certificate Deplit
0.0000
0.4200
0.5500
IRA
0.0500
0.4000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Minnesota
National Median Rates
Credit Cards
12.5000
9.9450
9.9900
Unsecured Line of Credits
9.0000
11.3250
10.9900
Short-term Small Amount
n/a
18.0000
25.0000
Student Loans
n/a
5.8500
6.0000
New Car Loans
4.0000
2.9900
3.4300
Used Car Loans
5.5000
3.9900
4.5400
1st Mortgage Real Estates
n/a
4.0000
4.2400
Other Real Estates
4.5000
4.6850
4.7500

Babbitt Steelworkers Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet and ATMs. The table below lists the electronic banking services prlided by Babbitt Steelworkers Credit Union.

Electronic Banking Service Offerings

Membership Application
No
No
Share Account Transfers
Yes
New Loan Application
No
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
No
e-Statements
No
Loan Payments
Yes
Merchandise Purchase
No
Account Balance Inquiry
Yes
No
Merchant Processing Service
No
View Account History
Yes
No
No
Download Account History
Yes
No

As a community financial institution, Babbitt Steelworkers Credit Union actively involves in local communities by prliding services such as first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
No
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
No
Student Scholarships
Yes
Insurance/Investment Sales
No
First Time Homebuyer Program
No
Babbitt Steelworkers Credit Union
Main Office

24 Commerce Rd
Babbitt, MN 55706
Phone:218-827-3121

ELY Area Crediit Union
2 E Chapman St
ELY, MN 55731-1228
Phone:218-827-3131

(218) 827-3124

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  1. Cuhub Staff
    Cuhub Staff

    Last Updated on May 30, 2017

    May 30, 2017 at 10:27 pm

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