4 Great Benefits Of Joining A Credit Union

At the today's financial situation all over the world

, many individuals are searching for new kind of banking options. One of the greatest options that became very popular is through the credit unions. As one of the individuals that enjoy the credit unions' benefits, I decided that by using it I can have 4 benefits.

First, all protections offered at regular banks are the same with credit unions. The government is the one that protects all bank deposits, and even guarantees the same backing of other organizations that are qualified in catering your money. But credit unions' major benefit is by giving low interest rate in their loans. They are controlled cooperatively that makes it possible for them to do this; this means that their operating cost is quite lower than all the regular banks.

Second, in investing money and any saving account, a credit union is a great option. This is simply because higher rates of interest are given in contrast with normal banks. They are also non-profit, which makes them give you directly all the income that a bank can possibly make.

Third, the members own and control the credit union; their service is much greater than the service that a bank could give. All the attention given by the staff and tellers is very excellent. They know we are in the same kind of community, which makes them have the motivation of being nice and friendly towards us.

Fourth, the members are the ones to decide the association's primary direction because the members have their savings pool together. It is quite different from regular banks. At this moment, banks mostly merge together; it will be uncommon to use names that are the same for a couple of years within your banks front. Credit unions will not be doing that, on the other hand. Serving their member is their existence, and major operations can be decided by members.

In conclusion, enjoying the 4 major benefits of a credit union is really all worth it. Individuals with different profession can join, so inquire about it at your local's credit union. This financial decision can be one of the best that you will ever make.

by: Roxann Block

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