Consumers want to get the most out of their money, while still having access to a wide variety of options. This is true in every shopping experience, especially when making a decision on the financial institution they will trust.
Credit unions are a smart choice for people looking for a pleasurable financial services experience. If you think they are just for certain people, you have been mislead! Here are five compelling reasons every person should join a credit union.
“I like being ignored when I have questions” said nobody, ever. Consumers want to be able to understand the ropes when it comes to meeting their financial goals. Whether it’s getting out of debt, choosing the best mortgage loan, saving for college or retirement, credit unions provide a more comprehensive amount of information. According to a recent article on Business Wire, credit union customers have consistently rated customer satisfaction higher than big bank customers for the past twenty years.
Credit unions want to see you achieve your financial dreams and will give you essential information and education so you make the best decisions for you and your family.
While those mega-banks may cart profits out of your town, and even your state, credit unions are local and woven into the community. This means your business helps create jobs and financial security for the place you live and work. In addition, they frequently promote and participate in local charities as strong corporate community citizens. Why would you choose to do business with an anonymous financial institution that has no ties with your town except for a couple of branches?
Monthly fees and other charges can chomp away at your finances and, over time, add up to a hefty sum that you could have saved or used to pay down debt. Credit unions generally charge minimum fees compared to big banks. This includes handy access to many no-fee ATMS.
Interest falls into this category, too. Mortgage and car loans from credit unions often offer the consumer better rates than their big-bank competition. Credit cards can also be secured via your credit union for a smaller APR than a bank or big credit card company. While these may not seem like a big benefit, it’s better to have the money in your pocket than paying it out to a bank!
Some consumers argue that, in order to do business with a credit union, they need to give up the convenient technology that is standard at the big banks. That’s not the case. Credit unions make available as many cutting edge opportunities as the big banks. From apps to savings calculators to robust mobile websites, banks don’t give their customers anything that credit unions lack.
Since credit unions take the time to get to know their members and are more focused on their overall financial wellness than the giant financial institutions, they are frequently able to provide more options. Members who are dealing with past credit mistakes may be able to qualify for that new car or home loan easier with a credit union. People with great credit scores can take advantage of a variety of benefits from credit unions in terms of all types of loans. Big banks tend to have blanket policies that are rigid and fail to cater to the majority of people who need their assistance and support.
These are just five of the compelling reasons every person should join a credit union. If you crave to be more than just a number, and for your financial institution to know your name when you walk through the door, then the credit union experience is for you. They deliver a wider array of loan options, while keeping costs low and risks minimal. Take the plunge and see how credit unions are more apt to help you attain your financial goals than the big banks ever could!