A common question that people ask after opening accounts with US credit unions is “Is the member number the same as the account number?”
The short answer is “no”. But, there’s more to it…
This article will be relevant whether you opened without basic requirements like a US SSN or ITIN, or you have a US tax ID and opted for a credit union instead of a bank.
On the other hand, if you are exploring your US options and you want to know how to open a US bank account as a foreigner, our other free resource will better serve you.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Members Numbers vs Account Numbers
- How to Find My Account Number
- Frequently Asked Questions
- Ready to Open Accounts With Banks in the USA?
Members Numbers vs Account Numbers
The main difference between member numbers and account numbers is member numbers identify the customer to the financial institution while an account number is assigned to a specific customer account. In other words, a customer can only have one member number but they can have multiple account numbers.
For example, a customer may have several accounts with a credit union, ranging from a simple savings account to a check account or mortgage. While most customers are US citizens and tax residents, citizenship and tax residency are not required. Non-residents qualify to open US bank accounts and can access a wide range of lending products like financing for a home without an ITIN. When financial products like these are held through credit unions, each account will have a separate number, while the member number will remain the same.
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How to Find My Account Number
If you are a member of a credit union, it is important that you are clear about the various numbers that can be associated with your account. With this in mind, here are the three most commonly discussed credit union numbers:
Member Number
The member number is the unique numeric code that represents an individual member of a credit union. This number helps the credit union identify each member, irrespective of the account in question at that time.
Account Number
The account number is the numeric code that represents a specific account held by a member of a credit union. Importantly, one member can have multiple account numbers. This can include a different number for a savings account, a checking account, a mortgage, or a different loan product.
Routing Number
The routing number is the numeric code that represents a specific financial institution, like a credit union. The routing number is used when sending transactions to and from financial institutions to ensure transactions are completed correctly.
Frequently Asked Questions
Below are three of the most common questions that we receive from people determining the difference between a member number and an account number. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Is a Member Number?
A member number is a unique numerical code that credit unions use to identify each of their members. The member number is separate from the various account numbers that a customer may have at a credit union, which represent each individual account.
How Do I Find My Account Number For My Bank?
You can find your account number from your bank in multiple ways, including account statements, online banking, or your account opening documents. Alternatively, if you do not have access to any of these documents, you can contact your bank directly (or visit a branch) to confirm your account information.
Is the Bank Routing Number the Same as the Member Number?
A bank routing number is not the same as a member number. A bank routing number is a unique number that each financial institution has. A member number is a unique number that each member of a credit union has.
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