4 Reasons Why You Should Choose a Credit Union

4 Reasons Why You Should Choose a Credit Union

What comes in your mind when you think of banking? Perhaps, just like many other people, you first think about going to a bank. Well, most people are accustomed to banks because they seem popular, and they are more prominent. To most people, credit unions are not an option. But do you know that credit unions are much far ahead of banks? Most people don’t seem to figure this. Anyone who has bothered to weigh the benefits of credit unions can agree. You probably are asking what benefits of the credit union are. Well, continue reading to learn the top four reasons why you should choose a credit union.

You are the owner of the Credit Union

While banks have separate stakeholders from members, you become a stakeholder just by opening an account with a credit union. The primary role of a banking institution is to make profits for its stakeholders. Therefore, credit union works for you since you are a stakeholder. It means that the profits made by credit unions are channeled back to members.

However, you may not receive the profit directly as it comes in the form of low-interest rates on loans. Also, your savings attract higher earnings, and you enjoy low rates anytime you use their debit and credit cards. Still, you can open a credit union account without any balance. However, banks require you to maintain a precise balance for account maintenance.

Low Rate Credit Card Fees

You are wrong to think that only traditional banks provide debit cards and credit cards. Almost all credit unions have these cards for their members. Traditional banks offer cards too, but the credit union advantage is on their meager rates and fees on transactions. Why incur much when you can incur little? The aim is to make a profit anyway. We already mentioned that credit unions give the profit back to members; this is one way how they do it. You can try numerous banks, but you will never find one that offers credit cards with low rates as a credit union.

Moreover, most credit unions offer special promotions. At Centris Federal Credit Union, you can use your credit and debit card to earn profits. By just opening a free personal checking account in La Vista, Ne, you can redeem these points.

Credit Unions offers Ease of Service

Have you ever called your corporate bank requesting them for simple assistance, like checking the balance of your credit account? Try one day, and you will agree that the experience is horrible. You will be moved through a series of annoying phone tree menus before you are connected to a real person. Sometimes you pass through all that hell only to be told that all the customer care is busy at the moment.

Yes, that’s the legacy for corporate banks- out of touch policies and cumbersome customer service. Well, if you don’t want to get on hold for hours before you get meaningful assistance, you must choose credit unions. Their services are easy to use, and they have policies that focus on the members as the union stakeholders. When you call, you immediately get connected to a real human being customer care who can answer all your queries. The world of finance is complicated, and it is wrong for corporate banks to complicate it even further.

Credit Union Insures your Money

Ask anyone why they fear banking with credit unions, and you will realize that they fear the safety of their money. However, this is unfounded fear since all credit unions, just like banks, are insured and secured. This is why credit unions have expanded, and they have various branches and multiple ATMs in multiple locations. Therefore, it is not like you will be joining an institution where you are another face in a small crowd. No, you will be joining a bigger credit union institution. And the best thing is that you are a member and not a mere customer.

Compare using any parameter, and all will stream to one thing- credit union institutions are far much better. Therefore, why should you miss on credit union membership? Perhaps you have queries you need to be answered before joining, don’t hesitate to contact us. Success as you become a stakeholder of a credit union.