Right now, people think they know all there is to know about credit unions. Unfortunately, a lot of the information out there is either outdated or inaccurate. The result is that people really aren’t getting the full information when it comes to these institutions.
I Can Only Use a Couple Branches and ATMs
This is perhaps one of the biggest misconceptions that are associated with Credit Unions. The truth is that there is a shared branch available that has more than 4,500 locations that can help you to complete your financial transactions. This means that no matter where you go, you will have someone in the network that can help you to get ahold of your money. With more than 65,000 ATM networks that can be accessed as part of this network, you have the chance to access your money surcharge fee, with more options than many of the top national financials.
Credit Unions Have Small Systems That Limit Your Financial Options
You’ll find that your credit union will offer Bill Pay, Mobile Banking, Android Apps and more to help you to connect with your account. You can even access the online system to get detailed transaction information and keep track of your financial activity easier. It is fast, effective and will certainly be one of the best overall choices you will have when it comes to keeping track of your spending and how much money you have in an account. In fact, the live ledger is a feature that many people find beneficial.
Credit Unions Have Higher Interest Rates
Despite being told that their fees are not comparable, you will find that credit unions tend to be more affordable. Since they are owned by their account holders, they will are going to be committed to delivering the best service possible. This means lower interest rates on loans and credit cards and higher interest payouts on savings accounts. That will mean an all-around great experience for you.
As you can see, beyond the misconceptions of a credit union, there are some facts that shouldn’t be overlooked. With a reasonable membership fee to join and the chance to benefit from the credit union from the moment you join. With their high customer service standards, you will quickly find yourself wondering why you ever bothered with national financials in the first place. After all, their rates and service will pale in comparison to the credit union.