5 Reasons Why Choosing A Credit Union Adds Up

By Author: Cutx
Total Articles: 4
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Making the decision to open an account at a credit union can be one of the best financial choices a person makes. Distinctly different from corporate banking institutions, credit unions offer members advantages that larger institutions simply do not. . Unlike banks that may be publicly owned and traded, credit unions are nonprofit cooperatives that are owned by individual members. This distinction paves the way for advantages that traditional banks are often unable to compete with.

When it comes to placing their money, people have many choices. Credit unions make an exceptional option for these reasons and more:

• Credit unions tend to be more personal – Big banks often have a very corporate feel, but credit unions deliver a more personalized approach for people to handle their finances. Since credit unions serve their communities, they tend to offer a small town feel. In a world where people often feel like just another number, this sense of familiarity can be quite refreshing.
• Credit union members benefit from their credit union’s success – When big banks make big profits, the money goes to ...
... shareholders and into expensive advertising campaigns. When credit unions fare well, the benefits are returned to members through lower fees and better interest rates and services.
• Loan rates tend to be lower –Credit unions don’t have shareholders to please with big earnings reports. With that in mind, they are able to offer lower interest rates on credit cards and loans in many cases. This can add up to big savings for members over the long run.
• Interest rates on savings accounts tend to be higher – When money is placed in a credit union, it tends to earn a higher interest rate than traditional bank customers might enjoy. This can add up to a long-term benefit for those who want to make their money work for them.
• Peace of mind is assured – Credit union customers do enjoy the same level of security as traditional banking customers. While the Federal Deposit Insurance Company insures deposits up to $250,000 at traditional banks, the National Credit Union Administration offers the same peace of mind at credit unions.

People work hard for their money. Once earned, that money should work hard for them, too. Credit unions provide a distinct way to make that happen. Structured by design to be different than corporate banks, these financial entities exist to serve their members. From personalized service to better interest rates and easier access to loans, credit union members enjoy the advantages that go along with ownership.

About Author
Serving our community since 1931, CUTX is owned by its members and operated in accordance with the laws governing credit unions in the State of Texas. As a member, your deposits are federally insured by the National Credit Union Administration, a United States government agency.

CUTX (Credit Union of Texas) committed to take your security very seriously, whether that means the security of your assets or your personal security. More service. More value. More solutions to your financial needs. That's why we're here. Actually, it's the only reason we're here. We are interested in what is happening to you above all else, and our employees are trained to help you get where you are going, wherever the financial road takes you. We want you to feel how much we really care about you. At the end of every interaction we have with you, our goal is to little nod and smile that you can not fight when you experience something unexpected. That's the CUTX way.