AUTHOR: MADISON HOMAN
Loving a credit union isn’t hard to do. By design, credit unions are different than other financial institutions. And those differences, once experienced, are hard to live without! Credit unions serve their members – not stockholders, typically have better rates and lower fees, offer personalized service, care about your community, and are available for you 24/7/365 – no matter where you are!
Credit unions are so easy to love – just ask the more than 130 million members nationwide. If you don’t have time for that many conversations, no worries! We detail some of the reasons you’ll be shouting “I LOVE MY CREDIT UNION!” very soon. Read on to find the top reasons you’ll love your credit union relationship.
You’ll love being treated like an owner.
Credit unions are a different kind of financial institution: owned by you and working for you to give you control of your financial future. Because of this, YOU get a piece of the pie. Credit unions offer the same products and services as banks, but the profit cycles back to members instead of shareholders. In fact, credit union “shareholders” are the everyday Americans who do business with them – their members. And credit union earnings are returned to members through reduced fees, higher savings rates, lower loan rates, and dividends! At a credit union, your money = your choices.
You’ll love the better rates and lower fees.
Since credit unions aren’t paying dividends to stockholders, that means they can return earnings to members in the form of higher interest rates on savings products and lower interest rates on loans and credit cards. In addition, if credit unions do charge fees, they are nominal and generally lower than what banks demand. Credit unions want to help you keep as much of your money as possible; they are here to help your wallets, not hurt them!
You’ll love the personalized service.
Credit unions are small enough to know you and your neighbors, but big enough to bring the world to your fingertips. They care about who you are, and what you dream of. This means they offer you honest, personalized service to help make your financial future brighter. Credit unions can focus energy and training on high-quality customer service as a not-for-profit. Credit unions don’t sell members the latest financial product because of a sales quota. A credit union’s products and services are tailored to the member, not a corporate quota.
You’ll love their investment in your community.
If you’re looking for a great financial partner that’s also great for your community, credit unions are the best option. Unlike the big national banks and online-only banks, credit unions are member-owned financial institutions that directly contribute to where you live, work, and worship. This community investment comes in the form of financial education and funding, philanthropy, small business supporters, and so much more! Credit unions truly live up to their motto of “people helping people”.
You’ll love that they have your back, 24/7/365!
No matter who you are or where you’re from, credit unions have your back. Credit unions put people first all across America. Today, an extensive network of credit unions form a group of financial cooperatives that have $1.5 trillion in assets: Collectively they serve more than 130 million people with modern financial service solutions to meet the needs of a growing membership that is as diverse as the United States. And just like banks and the FDIC, individual credit union deposits are protected for up to $250,000 by the National Credit Union Administration. Credit unions are there for you, available at your fingertips, wherever you are and whenever you need them!
Credit unions are SO easy to love, and if you have yet to experience the credit union difference, you’re missing out!
I Love My Credit Union, and So Will You! (n.d.). Default. Retrieved July 25, 2022, from https://www.yourmoneyfurther.com/blog/post/ymf/2022/07/24/i-love-my-credit-union-and-so-will-you
DISCOVER THE DIFFERENCE!
*Membership eligibility requirements apply. Other terms and conditions may apply.