Posted on by White Lion
Here are 10 reasons credit unions beat banks
By Nico Ramsey
When you’re looking for a convenient and trustworthy place to host your financial transactions, you’ve got a few choices: credit union, bank, mattress or shoebox. Putting aside those last two, here are 10 reasons why you should choose to trust a credit union over a traditional bank:
- We’re the fast way to financial freedom! The purpose of a credit union is to provide low-cost, often free, services to its members in the form better rates, lower fees, and, at Velocity, free checking accounts.
- If you need a loan, we’ve got you covered. Credit unions generally offer better, more competitive rates on loans.
- Credit union deposits are federally insured by the NCUA up to $250,000 per person, per institution, per ownership category (for example, If you have a single and a joint account at the same institution, both are insured up to the $250,000 limit).
- Credit unions are member-owned. Instead of stock-holders, credit unions are accountable to their membership.
- We provide financial education to members and even the community at large. We succeed when our members are fiscally fit and know how to make their money work for them!
- No matter what stage of life you’re in, we’re here to help. Credit unions offer products and services that can help you — among other things — build credit, buy your first car, weather an emergency, get a second chance at a checking account, or save for education.
- One member, one vote. Whether you have $1 or $100,000 in your account, you have the same say as any other member in determining the direction of your credit union.
- Credit unions are known for their stellar customer service! It sounds trite, but it’s true: you are more than just an account number to us — you’re family.
- We’re your neighbor. No, really! Credit unions are local and we invest in your community.
- It only takes $5 to open an account at Velocity Credit Union. That $5 is used to hold your share at the credit union. That makes you a share-holder!
Ready to sign up and enjoy all of the advantages of credit union membership? Click here to open your account today!