We all know someone who is a credit union die-hard, boasting about all of the perks that come with being a member. That’s great, but why should you really bank with a credit union?
We have compiled the must know facts and perks that come with being a member of a credit union. We are confident that by the end you’ll be wondering why you haven’t switched to a credit union account sooner!
Customer Member Service Is Key
Due to the fact that credit unions are owned and operated by its own members, it should come as no surprise that customer member service satisfaction is ranked at 87 out of 100 by American Customer Satisfaction Index- a whole 8 points greater than their corporate competitors. Credit Union organizations aim to provide affordable financial services to their members.
Higher Savings Means Satisfied Members
Credit unions pass along savings to their members, offering competitively low financing rates. From credit cards to loans, credit unions make it easier to restructure debt coupled with the chance of great bonuses, such as credit reward programs.
Account Minimums are Kept at a Minimum
While big banks require its members to adhere to a minimum balance to avoid fees, roughly 76% of credit unions do not require any set minimum for their members to avoid fees. Less fees mean happier members – it’s that easy.
Banking Fees Avoided At All Cost
Due to the pressures of financial regulatory laws, corporate banks have been forced to raise fees as well as eliminate free checking accounts. Credit Unions on the other hand, do their best to consistently utilize ways to keep fees down to a low minimum. At a credit union, services they usually cut will try to reduce expenses in other ways first before fees for members are raised – a move that has kept millions of members switching over to credit unions from big banks.
ATM Access On Every Corner
While many believe that credit unions do not have as many ATM locations when compared to corporate banks, the notion could not be further from the truth. Many credit unions have joined together to offer more ATM locations than ever before.
The CO-OP network of ATMs allow credit union members to use their services at no cost – a service that most corporate banks do not offer.
If you have any questions regarding the perks of credit unions, or would like to set up an appointment to open a new account, please stop by a branch or give us a call at 800-835-3400 and ask to speak with a Member Advisor. We are here to help you on your financial journey.