What Is the SWIFT Code for a Credit Union?


Quick Answer

Swift codes are used as identifiers for major financial institutions when sending money electronically via wire transfer, especially in international transactions. They are used in helping route money to the correct bank.

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Full Answer

Swift codes are part of bank identifier codes. These codes are used to differentiate not only banks, but locations and branches as well. Swift codes are usually formatted with eight to 11 characters, with each section of the code narrowing down banks to specific branches. When used for wire transfers, Swift codes are required in conjunction with account numbers to ensure money gets where it needs to, per customer requests.

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