How to Find a Credit Union Near Me with No Foreign Transaction Fees

In today’s interconnected world, managing finances across borders has become a necessity for many. Whether you're a frequent traveler, an expat, or someone who shops online from international retailers, foreign transaction fees can quickly add up and eat into your budget. Credit unions, known for their member-focused services and lower fees, can be an excellent alternative to traditional banks—especially if you find one with no foreign transaction fees.

Why Choose a Credit Union Over a Big Bank?

Lower Fees and Better Rates

Credit unions are not-for-profit financial institutions, meaning they prioritize member benefits over shareholder profits. This often translates to lower fees, higher savings rates, and more favorable loan terms compared to big banks.

Personalized Customer Service

Since credit unions are community-based, they tend to offer more personalized service. If you need assistance with international transactions or account management, you’re more likely to get direct help from someone who understands your needs.

Ethical Banking Practices

Many credit unions focus on ethical banking, supporting local communities and avoiding investments in controversial industries. If you care about where your money goes, a credit union might align better with your values.

How Foreign Transaction Fees Work

Foreign transaction fees typically range from 1% to 3% of the purchase amount and are charged by financial institutions when you make transactions in a foreign currency or with an overseas merchant. These fees can apply to:
- ATM withdrawals abroad
- Online purchases from international retailers
- Card swipes in foreign countries

Even if a transaction is processed in USD, some banks still charge fees if the merchant is based outside the U.S. That’s why finding a credit union with no foreign transaction fees can save you a significant amount of money.

Steps to Find a Credit Union Near You with No Foreign Transaction Fees

1. Use Online Search Tools

Websites like MyCreditUnion.gov and NCUA.gov (National Credit Union Administration) allow you to search for credit unions by location. You can filter results based on services offered, including international banking features.

2. Check for Shared Branching Networks

Some credit unions participate in shared branching, meaning you can access services at other credit unions nationwide. This is especially useful if you travel frequently. Look for credit unions that are part of the CO-OP Shared Branch network.

3. Review Fee Schedules

Before joining, always check the fee schedule. Look for terms like:
- No foreign transaction fees
- No ATM fees worldwide (or reimbursements for out-of-network ATM charges)
- Low or no currency conversion fees

4. Ask About International Partnerships

Some credit unions partner with global ATM networks (like Allpoint or Plus) to offer fee-free withdrawals abroad. Others may have agreements with foreign banks for better exchange rates.

5. Read Member Reviews

Online forums like Reddit’s r/personalfinance or Credit Union review sites can provide real-world insights into how a credit union handles international transactions.

Top Credit Unions with No Foreign Transaction Fees

While policies vary, here are a few credit unions known for traveler-friendly features:

Navy Federal Credit Union (NFCU)

• No foreign transaction fees on debit or credit cards
• Free ATM withdrawals at international partners
• Open to military members, veterans, and their families

Alliant Credit Union

• No foreign transaction fees on most accounts
• High-interest savings and checking options
• Reimburses up to $20/month in ATM fees

First Tech Federal Credit Union

• No foreign transaction fees on select accounts
• Competitive international wire transfer fees
• Strong digital banking tools

Alternative Solutions If No Local Credit Union Fits

If you can’t find a suitable credit union nearby, consider:

Online-Only Banks with No Foreign Fees

• Charles Schwab Bank – No ATM fees worldwide
• Revolut or Wise (formerly TransferWise) – Multi-currency accounts with low conversion fees

Travel Credit Cards

Many credit cards, including those from credit unions, offer no foreign transaction fees. Look for options like:
- PenFed Power Cash Rewards Visa®
- State Department Federal Credit Union’s Premium CashBack+ Visa

Final Tips for Managing International Finances

• Always notify your credit union before traveling to avoid fraud alerts blocking your card.
• Use credit over debit when abroad for better fraud protection.
• Check exchange rates—some institutions offer better rates than others.

By taking the time to research and compare, you can find a credit union that meets your international banking needs without the extra fees. Happy (and cost-effective) globetrotting!