Credit Unions are Designed with Sole Goal in Mind: Meeting their member's needs. Rather than banks, which can often feel cold and formal, credit unions are friendly, accessible and member run, meaning when you bank there, you have a say in what happens. And because credit unions are not-for-profit, there's more focus on finding the right products for their members. That's right; it's as great as it sounds. Credit unions are here to serve you.

1. BANKING ON
CREDIT UNIONS
CREDIT UNIONS ARE DESIGNED WITH ONE SOLE GOAL IN MIND:
Meeting their members’ needs. Unlike banks which can often feel cold
and formal, credit unions are friendly, accessible and member run, meaning
when you bank there, you have a say in what happens. And because credit
unions are not-for-prot, there’s more focus on nding the right products for
their members.That’s right; it’s as great as it sounds. Credit unions are here to
serve you.
CREDIT UNIONS BANKS
CREDIT UNION MISCONCEPTIONS
MISCONCEPTION FACT
Only certain people are
eligible to join.
Credit unions offer fewer
services than banks.
Credit unions aren’t
guaranteed by the FDIC.
BENEFITS OF A CREDIT UNION
Friendly and Accessible
Cool perks, such as free classes or useful products
Member-Owned, Member-Run
Strives to benefit each of its members
Non-Profits
Low Credit Card Fees and Interest Rates
High Interest Rates on Savings Accounts, certificates and Money Market Accounts
Low Cost of Free Checking with Low or No Minimum Balance Requirements
71% of credit unions belong to
a surcharge-free ATM network,
which includes as many as
THE FACTS
39%
88%
Credit unions offer the same nancial services you’ll nd at banks. The
difference? Credit unions offer those nancial services, while keeping you
and your needs in mind. Banking doesn’t have to be a frustrating endeavor.
Say goodbye to long lines, poor customer service and ridiculously high rates and
fees. Instead, entrust your money with a credit union, where decisions are made
with your needs in mind.
SOURCES
http://www.investopedia.com/nancial-edge/1211/6-benets-of-using-a-credit-union.aspx
http://www.lovemycreditunion.org/Why-Join-a-Credit-Union-156.html
https://www.western.org/the-benets-of-a-credit-union
http://money.usnews.com/money/blogs/my-money/2014/05/02/how-you-can-avoid-rising-atm-fees
http://www.gallup.com/poll/1597/condence-institutions.aspx
http://www.nerdwallet.com/banking/credit-unions-vs-banks/#.U80nMPldX5w
http://www.dailynance.com/2011/11/01/5-credit-unions-myths-debunked/
http://www.co-opsharedbranch.org/about-us/?benets
70,000 ATMs.
90% of savings CD
accounts with a rate beating
inflation were credit union
products.
of business checking
accounts at credit unions are
free, compared to 13% of
banks.
89% of the top credit unions
in states with high senior
populations offer free or
senior checking, compared to
62% of banks.
of the time credit unions are
found to be better for student
checking than big banks that
are near campus.
70% of the top-10 credit
unions offer a free checking
account, while only 10% of
banks do the same.
Many credit unions are “community
charters,” meaning membership
privileges are available to anyone who
lives, works, worships or goes to
school within a geographic area.
Credit unions provide many of the
same services as banks, typically at a
more reasonable rate.
Credit unions have their own
self-funded, federally-guaranteed
deposit insurance fund through
the National Credit Union
Administration (NCUA). Simply
put, your deposits are just as safe
in a credit union as they are in a
bank.
You are a member or stakeholder, meaning you
have an individual vote and say in what happens.
A volunteer board of directors, which are elected by
account holders, represent the credit union members.
It’s service focused, offering competitive rates and
value-added products.
Credit union ATMs are typically fee-free.
You’ll receive higher rates on savings, checking,
money market and share certificates.
Many credit unions have shared branching, giving
you access to nearly 30,000 ATM locations
nationwide, 5,000 credit union branches and more
then 2,000 self–service locations.
You’re just a customer at a bank, with its goal being
to make money for the company’s stockholders.
It’s a for-profit financial institution, which is controlled
by stockholders and paid officials.
Banks are driven by profits.
The profits are primarily returned to the stockholders.
Often, bank ATMS charge a withdrawal fee, with the
average cost being $2.45 to use an out-of-network
ATM.
74% of Americans say they have some or very
little confidence in banks, with only 10% saying
they have a great deal of confidence.