AW Credit Union was established in 1931 in the University of Wisconsin. It uses a not-for-profit cooperative business model to serve the community. The company takes in customer deposits and offers loans to its customers who needs it.
- Branch / ATM Locator
- Website: https://www.uwcu.org/
- Routing Number: 275979076
- Swift Code: See Details
- Telephone Number: 608-232-5000
- Mobile App: Android | iPhone
- Founded: 1931 (92 years ago)
- Bank's Rating:
UW Credit Union is a not-for-profit organization that takes customers deposits and offers affordable loans to its clients. It offers an online banking platform where customers can conduct transactions such as deposits, withdrawals, text banking, money transfer, web pay, email and text alerts, web check copies, mobile banking, and check balance.
HOW TO LOGIN
Step 1. Go to UW Credit Union website by following this link.
Step 2. In the homepage, go to the Web Branch by clicking either of the two places shown below.
Step 3. In the new page, enter your username and password and click login.
FORGOTTEN USERNAME OR PASSWORD
Step 1. If you have forgotten your password or username, click the forgot username/password link as shown below.
Step 2. In the next page, enter your username or member number in the box shown below and click next.
Step 3. In the next step, enter the required information as shown in the image below. Ensure that you provide the correct details.
Step 3. Click the next step button and provide the required information.
Step 4. If you are stuck, you can consult the company’s customer care department by calling in the provided numbers. The numbers are shown below.
HOW TO ENROLL
Step 1. To sign up for online banking, go to the homepage of the website and follow the enroll button as shown below.
Step 2. In the next page, fill in the required spaces and press next until the final page.
If you follow the steps and provide the accurate information, you will have an online account with UW Credit Union.
The company provides a number of safety measures clients with online banking should follow to safeguard their accounts. These safety measures can be found on their site. Please ensure that you follow these measures. When you suspect that your account has some issues, contact the bank using the number provided above.
What you will find in your online account
In your online account, you will find most services you normally find in a physical bank location. You will be able to withdraw funds, make payments, send money to a friend or relative. You will also find a tool that can help you determine your credit score.
University of Wisconsin (WN) Credit Union Review
University of Wisconsin Credit Union is a non-profit, federally insured financial institution headquartered in Wisconsin.
The credit union has formed a partnership with the University of Wisconsin to offer students loan refinancing as well as consolidation programs for the University of Wisconsin Credit Union members only. The rates for this credit union are determined by the credit score of the client.
The credit union was founded in 1931 and has a reputable history in the industry. The services offered by University of Wisconsin Credit Union include private student loans, consolidation and student loan refinancing.
There are many benefits that come with becoming a member of University of Wisconsin Credit Union. These benefits include:
- Low rates
University of Wisconsin Credit Union offers rates that are as low as 2.39% for changeable interest and 4.04% for fixed interest. These interest rates are in the lower end in the financial services industry. Refinancing can take between 2 to 4 weeks.
Borrowers are also offered the option of consolidating their loans into one monthly payment together with the ability to register for automatic payments. When borrowers do this, they will reduce the interest rate by 0.25%
- Cosigner release
Borrowers who have less than perfect credit score can sign up with a consigner. This could lead to reduced interest rate. A
lthough the borrower must be a member of the credit union, the cosigner does not. There is also the cosigner release option, which means that cosigners can apply for after thirty six months on-time.
- Unique payment options
If a borrower chooses to go with the fifteen year term option, they can make interest-only payment in the first two years of repayment. If the borrower passes away, the credit union will provide protection of up to $50,000
- Branch availability
For people who live around University of Wisconsin, the University of Wisconsin Credit Union has many locations. This is good for individuals who prefer to talk to the credit union’s representatives face to face.
In Madison area alone, University of Wisconsin Credit Union has 13 branches, 3 of which are located on the University of Wisconsin campus. UW credit union has 6 branches in Mulwaukee and 4 in the Greater Wisconsin area.
We have discussed the benefits of becoming a member of University of Wisconsin Credit Union, but there are also disadvantages that you should know. The downsides include:
- Strict eligibility requirement
The eligibility requirements of University of Wisconsin Credit Union are rigid. Some of the requirements that borrowers are required to meet include:
- Make an income of at least $25,000
- Debt-to-income ratio must be reasonable
- Credit score must be satisfactory
- Must have at least 5 years of credit history, but this doesn’t not include student loans
- Must be a member of University of Wisconsin Credit Union
In order to become a member of University of Wisconsin Credit Union, you must live, attend school or work within 5 miles of a branch.
People who qualify also include past or present Madison College, University of Wisconsin and University of Wisconsin Health employee and their immediate household members.
Since all the branches are located in Wisconsin, it means that people who live in other states cannot use University of Wisconsin Credit Union’s consolidation and refinancing programs. For some borrowers, some of these requirements can be difficult to meet.
For instance, having 5 years of good credit history at an income of at least $25,000 may not be possible for a significant number of recent college graduates
- The cosigner release period is longer
Although the credit union offers a cosigner release option, the waiting period of 36 months is longer that the standard waiting period in the industry. In normal cases, the cosigner applies for release after 1 or 2 years.
- Limited terms
University of Wisconsin Credit Union doesn’t offer a twenty year or twenty five year term. A significant number of companies offer at least a twenty-year term
University of Wisconsin Credit Union’s student consolidation and refinancing programs are ideas for Madison and UW locals. This program is geared for all members.
Borrowers will not be bombarded with hidden fees and interest rates are lower. For people who meet the credit unions eligibility requirements, the credit union offers borrowers affordable interest rates