Can I Withdraw Money From Any Credit Union?

Credit unions operate as member-owned financial institutions, distinguishing them from traditional banks through their cooperative structure. This framework means members are owners, influencing the institution’s philosophy and operations. This ownership model often translates into a focus on member benefits, including competitive rates and personalized service, rather than maximizing profits for external shareholders.

Withdrawing Through Shared Branching

Credit union members can access their funds and perform various transactions at locations beyond their home branch through shared branching. This cooperative network, primarily facilitated by the Co-op Shared Branch network, allows members of participating credit unions to conduct business as if they were at their own institution. The network includes over 5,300 credit union branches and thousands of self-service ATMs across all 50 states, providing widespread accessibility.

Through shared branching, members can execute a range of transactions, including deposits, cash withdrawals, loan payments, and money transfers. This service expands the physical footprint available to credit union members, offering convenience comparable to large commercial banks. To locate a shared branch, members can:

• Utilize the Co-op locator tool online.
• Download a mobile app.
• Call a dedicated phone number.
• Text their zip code to find nearby locations.

Accessing Funds via ATM Networks

Beyond shared branching, credit union members benefit from extensive ATM networks, enabling convenient access to funds across the country and worldwide. Major surcharge-free ATM networks like the Co-op ATM Network and Allpoint provide widespread access, often found in retail locations such as 7-Eleven, Costco, Walgreens, and CVS Pharmacy. The Co-op ATM Network alone boasts over 30,000 surcharge-free ATMs, while Allpoint offers over 55,000 locations globally.

These networks allow members to withdraw cash and deposit funds without incurring additional fees typically charged by out-of-network ATMs. Many credit unions also connect to other prominent ATM networks such as Plus, Cirrus, NYCE, STAR, and Pulse, broadening accessibility. Members can easily find participating ATMs using locator tools on credit union websites, dedicated mobile apps, or by texting their zip code.

Key Considerations for Withdrawals

When performing transactions at a shared branch, members need to present a valid government-issued photo identification, such as a driver’s license or passport, along with their credit union’s name and account number. For enhanced security, some shared branches may require additional verification, such as scanning a QR code, providing a selfie, or generating a one-time passcode. Shared branches cannot look up account numbers, so members must have this information readily available.

Withdrawal limits vary depending on the institution and method. At shared branches, daily cash withdrawal limits can range from $500 to $2,500 per day for guest members. For ATM withdrawals, daily limits often fall between $810 and $1,220, depending on the specific credit union and card type. Co-op Solutions Shared Branch Network ATMs limit withdrawals to $620 per day.

While basic transactions like withdrawals are free at shared branches, some credit unions may charge fees for additional services such as official checks or money orders. Using an out-of-network ATM not part of a surcharge-free network can result in fees from both the ATM operator and the member’s financial institution, which can average around $4.77 per transaction. Some credit unions offer ATM fee reimbursements to offset these costs. Before attempting large withdrawals, verify account balances and understand specific limits and potential fees by contacting the credit union or checking their policies.