Many people are on the fence when it comes to joining a credit union. There is a sense of fear that comes with breaking away from the most common type of financial institution, because there is a lot of bad information out there. The truth is when you take a step back and actually look at the big picture, you will find that most of the things that worried you, couldn’t be further from the truth.
To begin with, your money is absolutely secure when you use a credit union. A credit union is insured through the NCUA for up to $250,000. That means your money is still being protected in the long run, just like at any national financial institution.
Another great thing about credit unions is that their financial services tend to be a great deal also. You will find that they offer low interest rates on loans and credit cards, while still providing higher quality customer service.
They will even offer you standard features like direct deposit, wire transfers and high interest savings and checking accounts. In fact, many of the services you can find through your national financial institution can be found at the local credit union in your own community.
What the national financial institutions can’t offer you that the credit union can is personalized attention. The goal of most credit unions is to ensure that their patrons or co-operative owners received the highest level of quality service possible. As you routinely visit a branch, they will get to know you and the financial representatives you meet with will be dedicated to helping you to achieve your financial goals.
They will help you to do this, without attempting to make a profit off of you. Instead, they will pass on lower rates and fees to you. This not for profit approach helps to ensure that you continue to get the best rates possible and that more of your money goes to the other areas of your life, where it can be better spent.
If you are tired of high fees and cold customer service, it is time to switch things up and to join a credit union. Before long, you will find that you are going to have a better overall experience when you are using a local provider that you can trust.