Joined a Credit Union
Last week I joined the local credit union. I’ve been putting this off for a long time actually. What mainly kept me back was the poor interest rates being offered through the credit union at work. For the longest time, I though I could only join one through an organization.
Listening to a local radio station, I heard them mention a website to find local credit unions. After all the fun we had the past few years with bailouts for the “national banks”, I wanted to take my money elsewhere. My goal was to find an institution that’s stable, local, and here to stay with me. Through research, I found out that one of the requirements to join one is to just live in the community. Their interest rates are very competitive for CDs and savings, plus they have low interest loans.
After finding this excellent news, I took Dasha and we went to open our accounts. Upon stepping in, I noticed something different about the credit union: you are treated as an individual, not as an account number. It was an excellent experience signing up for an account there. One huge advantage is I am able to deposit and withdraw at ANY credit union in the country; they are all linked together! This is extremely useful for when I travel and do not have a “national bank” in the area. So far I have not found a single disadvantage of signing up.
To sum it up, here are some of the advantages of a credit union:
- They are local and provide services for others in the community
- You may only need to live in the community to join
- They offer competitive rates on their services
- ALL the credit unions across the country are linked together allowing you to deposit and withdraw while traveling
- They have all the services of a “national bank”, such as online banking and free checking
Are you apart of a credit union? If not, have you been thinking about joining a credit union?
Tags: Banking, credit union
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