Benefits of Joining A Credit Union

Benefits of Joining A Credit Union

When considering joining a credit union, you might be hesitant because you don’t fully understand how they work. You’re not just going to put your money anywhere, right?

Well, joining a credit union is nothing to be afraid of and comes with many benefits that banks don’t offer. A credit union is a nonprofit, financial institution that comes with a sense of community.

Check out how joining a credit union could save time, headache, and money!

  • Customer satisfaction: All credit unions are nonprofit, meaning they don’t have any stockholders, so the main goal is customer satisfaction. Having a quality experience with quality customer service is what you can expect when joining a credit union. If you are looking for a more customer friendly bank, a credit union might be what you’ve been looking for.
  • Less expensive: Tired of bank fees? Look no further because credit unions have lower fees all across the board. From transfer fees to ATM fees, credit unions will have lower fees. Even overdraft fees, one of the most expensive fees at banks, is less expensive at a credit union.
  • Better rates: Since credit unions are nonprofit, they have lower rates for loans and higher rates for savings. Even after having lower rates, you may be qualified for a discount. You will be able to save more and do more at a credit union.
  • Community: Due to membership requirements, credit unions can often be tight-knit communities. People who live within the same region, with similar interests or work experience are commonly involved in credit unions. Credit unions will focus on consumer needs and customer satisfaction to truly make your banking experience feel like a community. And who doesn’t like a good experience, especially when it comes to money?