Benefits of Banking with a Credit Union
When choosing to open a new account you have a few choices, including what type of banking institution you want to bank at. We are here to tell you that banking with a credit union–such as The Family Credit Union–has a variety of benefits; some even that you might not expect!
- Higher Returns on Deposit Accounts: Since credit unions are not-for-profit, you will often see much higher rates of returns on your deposit accounts than you would on a non-credit union account. Credit unions put their earnings right back into the business, and that benefits you!
- Better Loan Rates: Once again, because credit unions are not-for-profit, they offer very competitive loan rates. Credit unions don’t need to maximize their profits, so they have no need to give you high rates. Credit unions are very competitive lenders.
- Little to No Fees on Accounts: This is one of the best reasons to open a new account with a credit union. No minimum balance and no monthly fees are common for credit unions, unlike big banks. That way your money continues to grow rather than become profits for a big bank.
- Investment in Local Causes: Another great thing about credit unions is that they often benefit local causes. For example, supporting local youth development, community development, and more!
You won’t regret opening a new account with us, we are sure of it. We care about you and our community, not profits! Contact us today to learn more about opening a new account.