Benefits of Credit Union Membership
Why should you join a credit union? Reasons
to become a member
1. Credit unions are primarily focused on people, not profits.
Credit unions operate by a “people helping people” philosophy.
2. Credit unions were created to service people
from all walks of life and from all types of income classifications.
3. Credit unions help members become better-educated
consumers of financial services. Most credit unions offer educational
web casts to cover everyday topics from saving to purchasing
your first home.
4. As not-for-profit institutions, credit unions
offer higher rates on savings and lower rates on loan products
and services. In some instances, credit unions will offer up
to 3-4 % less than what other financial institutions offer.
5. Credit unions help each other. Most credit
unions are a part of a shared service network, which means that
you may go to other credit union branches to conduct transactions
that you would normally do at your own credit union. See shared
service centers at www.cuservicecenters.com
6. As a member of a credit union, you are a
part owner and have a voice at how your credit union is operated.
Credit unions are run by a board of Directors. These directors
are current members in good standing.
7. Although credit unions are typically viewed
as small financial institutions, they are up to date with the
latest technology such as internet banking and e-statements.
Credit unions offer very personal service to their members.
8. Once you become a member, at most CU’s your
family members will automatically become eligible to join your
credit union. Once a credit union member, always a member, no
matter if you move away or change employment.