Royal Credit Union: A Legacy of Service and Community
Royal Credit Union was founded in 1964 by 100 employees of the Uniroyal Tire company in Eau Claire, Wisconsin. By 1972, the credit union expanded to include employee groups from other local companies. This rapid expansion led to a community charter in 1975, which enabled anyone who lived in the community to join the credit union.
When the Uniroyal Tire company plant closed in the 1990s, Royal was determined to stand by the community and help foster new business growth to bolster employment and economic development. Many new businesses launched in Eau Claire at that time, and Royal remained an unwavering partner in supporting them.
From its humble Wisconsin origins, Royal Credit Union has grown over its 60-year history into an institution with more than 300,000 Members 26 office locations across Wisconsin, eastern Minnesota, and the Minneapolis-St. Paul Metro area.
What Sets Royal Credit Union Apart?
As a not-for-profit credit union, Royal is driven by two goals: to make a positive impact in members’ lives and support community growth. Unlike traditional banks, any profits made by Royal are returned to members through better rates, fewer fees, and more free services. By reinvesting in its members rather than shareholders, every decision at Royal is made with members’ well-being at the forefront.
Royal Credit Union offers a comprehensive range of personal and business banking services, including deposit accounts and loans. Royal provides a suite of online and mobile tools comparable to those of national banks, making it easy for Members to manage their accounts.
In an age where digitization is everywhere, Royal believes in blending the most up-to-date technology with its personal touch of relationship-based banking. Mobile banking apps and online account management allow members to enjoy efficient, on-demand services, so Royal team members can focus on interactions that help educate and empower members. Royal’s hybrid approach leverages technology to enhance, not replace, personal interactions.
Core Values and Community Impact
The success and growth of Royal Credit Union are rooted in its core values. At the top of the list is the commitment to creating a positive impact in the lives they touch. Royal is deeply connected to the communities it serves, this commitment is evident in Royal's support for numerous non-profit organizations and community events. Royal also offers free financial education for all ages through award-winning programs covering a wide range of financial topics, ensuring that financial knowledge is accessible and equitable to all. Royal hosts 30 student-run credit union offices, employing 350 students and processing over 16,000 transactions annually through the School $ense program. Royal makes a donation to the school when a specific number of student deposits is reached to help celebrate good savings habits.
Royal also presents financial education courses in 11 correctional facilities and collaborates with nonprofits such as Power of Perception Inc., the YMCA, and Boys & Girls Clubs of America.
In 2012, the RCU Foundation was established to provide grant funding for capital projects to community organizations. Since its inception, the RCU Foundation has donated over $10 million in charitable grants, reflecting Royal's dedication to its core values and community support. A few Chippewa Valley organizations that have benefited from the Foundation include the Pablo Center at the Confluence and the L.E. Phillips Memorial Public Library in Eau Claire and Wisconsin Farmers Union in Chippewa Falls.
Membership Eligibility
You can become a member of Royal Credit Union if you live or work in 26 counties in western Wisconsin or 16 counties in Minnesota. To learn more and for a complete list of membership eligibility requirements, visit the Royal Credit Union website at www.rcu.org or by calling 800-341-9911.