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13 Reasons To Love A Credit Union 02/14/2020

1 - It’s YOU that profits from our success.
We pass on the benefits to our members instead of payouts to shareholders. Profits go back to members in the form of reduced fees, higher savings rates, and lower loan rates. 

2 - Personal relationships are key. 
Credit unions pride themselves on developing relationships with their members, and CUs are typically staffed by friendly reps who know customers by name.

3 - Little, to no ATM fees. 
Many credit union customers are able to avoid ATM fees because CUs typically give them access to a large network of ATMs by sharing branches and other resources.
HUB Checking Account

4 - Savings rates are above average. 
Because credit unions don’t have to pay dividends to shareholders and are exempt from federal taxes they can offer high rates on saving accounts. The average credit union offers CD, money market, and savings rates well above the national banking rates average.

5 - Lower interest rates. 
Credit unions offer lower interest rates on some loans. The difference between banks and credit unions was greatest in car-loan interest rates, according to a September report by SNL Financial. The average 36-month used-car loan interest rate offered by CUs was 2.67 percent compared to 4.45 percent for banks. For new-car loans, CUs offered an average interest rate for 48 months of 2.60 percent compared to 3.94 percent for banks.

6 - Invested in the community. 
A credit union’s core values are focused on its members and the communities where they live and work. Many provide financial education, local scholarships, and sponsor local charities.

7 - Willing to work with members trying to obtain a loan.
CUs don’t have to abide by loan restrictions and qualifications mandated by a corporate office, so they have more flexibility to make loans when possible.

8 - Small-business support.
CUs understand the value to the community of a small business, its market and credit needs.

9 - Joining is easy. 
Many credit unions base eligibility simply on where you live, work, or worship.
Membership Requirements

10 - Your money is safe. 
Credit union members have never lost even a penny of insured savings at a federally insured credit union. The National Credit Union Share Insurance Fund was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000.


11 - Members have a say.
Members elect a volunteer board instead of paid officials, therefore able to have people with their interests in mind making decisions.


12 - Access for Low-Income Individuals.
Some CU's proudly offer affordably priced products to members of the community who may not qualify for traditional checking account or loan products. 
Membership Means More


13 - Rewards.
Credit Union Members qualify for exclusive discounts and rewards through Love My Credit Union.