How to Transfer Between Credit Unions

Credit unions offer many benefits over banks including transfers between credit unions.

Unlike traditional banks, credit unions are nonprofit financial institutions run by a particular group—employees of the same company or residents of the same city, for instance. Credit unions offer the same services and account types as banks, but in some cases they offer additional features banks do not. Among these additional features is the ability to transfer money between credit unions. If you have a credit union account with your employer's credit union, for instance, as well as a credit union account with your city, you can easily transfer money between the two provided each one participates in one or both of the following methods.

Money Mover

Step 1

Launch your web browser and log in to the credit union account which supports online banking and the Money Mover service, or either, if both support them.

Step 2

Click "Money Mover" as the service type. Credit union website navigation may differ, but it will be prominently displayed once you log in to your account.

Step 3

Click "Add New Account" or equivalent.

Step 4

Enter the routing and account numbers of your other credit union account, as well as the account type (checking or savings, for instance).

Step 5

Click "Finish," "Submit," "Confirm" or equivalent. A confirmation email will be sent to the email address registered with your online credit union account with further instructions.

Step 6

Verify the credit union you added to your Money Mover list per the email instructions you receive.

Step 7

Click on "Money Mover" again, then click "Add New Transfer" or equivalent.

Step 8

Select the credit union account from which you want to transfer the money, then select the credit union account to which you want to transfer the money. Enter the amount and the date you want to make the transfer (you may be able to schedule it for a future date depending on your credit union).

Step 9

Click "Finish," "Submit," "Confirm" or equivalent.

Shared Branching

Step 1

Launch your web browser and visit the "CU Service Centers" website. (see Resources)

Step 2

Click on the U.S. state you are in on the map. A new window will open listing all the participating credit union shared branches.

Step 3

Narrow your results in the left panel of the window by entering the ZIP code of your location and clicking "Find Now." A new window will open listing the participating credit union shared branches in or nearest your ZIP code.

Step 4

Visit the shared branch of your choice and give the teller your photo identification, routing and account numbers of the credit union account from which you are transferring money, the routing and account numbers of the credit union account to which you are transferring money and the dollar amount of the transfer. Credit union shared branches have instant electronic access to participating credit union accounts, so it is not necessary to fill out a paper slip. Your transfer will be processed and available immediately.

Step 5

Keep the receipt for your records.

Tip

Money Mover service allows you to transfer money between any financial institution with a nine-digit routing number (banks or credit unions).

Adding a financial institution to your online credit union account's Money Mover list only needs to be completed once. It will stay in your list for future transfers.

Warning

Transfer fees may apply. Contact your credit union(s) for details.

Some credit unions may take one to three business days to process a new Money Mover account.

These services are not available via Automatic Teller Service (ATM).

Things You'll Need

  • Two participating credit union accounts

  • At least one participating credit union account with online banking (Money Mover only)

  • Routing number for each credit union

  • Account number for each credit union

  • Photo ID (shared branching only)

references & resources