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Here are 10 reasons credit unions beat banks

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:

  1. 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.
  2. If you need a loan, we’ve got you covered. Credit unions generally offer better, more competitive rates on loans.
  3. 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).
  4. Credit unions are member-owned. Instead of stock-holders, credit unions are accountable to their membership.
  5. 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!
  6. 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.
  7. 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.
  8. 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.
  9. We’re your neighbor. No, really! Credit unions are local and we invest in your community.
  10. 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!