Choosing The Right Credit Union For You

If you are tired of the impersonal service so often delivered by banks

, perhaps it's time to make the switch to one of your local credit unions. Credit unions are not owned and operated by some giant unknown out-of-state entity or Wall Street tycoons: they are owned by the people. But not all credit unions are created equal, and you need to find one that offers all the services that are most important to you. Here are some of the characteristics of the very best credit unions.

On-line Banking

Although it may seem strange at first to put this feature at the top of the list, it really does make sense. Very few of us actually go to our local bank or credit union branches in person anymore: ever-increasing numbers of folks are direct-depositing their paychecks , paying their bills, and conducting other forms of business right over the internet. You should even be able to apply for a loan without leaving home. If these kinds of features are important to you, select a credit union that has the most user-friendly website around.

Low Interest Rates

Because they don't have a major corporate entity to account to, most credit unions are able to offer much lower interest rates than banks. When choosing your credit union, shop around a bit and compare rates on home loans, small business loans, car loans, etc.

Safety and Security

Did you know that not all credit unions or banks are diligent about safeguarding the private information of their customers? If safety and security is important to you, make sure you choose a credit union that encrypts all of its computer files to prevent information piracy. You want to know that not only your money, but also your identity and sensitive information are safe with your financial institution.

Friendly Staff

On those occasions when you do visit the credit union in person, you want to be treated like a real human being and not like just a number. This is where all credit unions really excel over banks: when choosing your new financial institution, pay attention to how well you are treated. After all, the employees depend on keeping good customers like you!

Convenience

Finally, the locations of the credit union should never be overlooked. You shouldn't have to drive miles out of your way when you need to conduct a transaction in person. Some credit unions have more locations than others: so if convenience is important to you, choose one that is near your home, your business or both!

by: Art Gib

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