As a consumer, you have access to an incredible number of financial institutions to work with. Thanks to the Internet, you can even complete your banking activities with banks located in different states and that do not have a local branch. This gives you access to hundreds of financial institutions. While you have many financial institutions to consider banking with when applying for a new loan or opening a new account, there are a few good reasons why you should choose to bank with your local credit union for your personal or business banking needs.
A Nearby Branch Location
You may be able to complete most of your banking activities over the phone or through the bank’s website or mobile app, and you may have limited needs to visit a branch location. However, there are always times when you need to visit a branch location and receive live assistance. When you bank with a local credit union, you can enjoy the convenience of having a branch location nearby. You likely have access to several credit unions in your hometown, and you may qualify for membership at a few of them.
Better Rates and Terms
Credit unions are well-known for having attractive rates and terms. This means that you can typically benefit from a higher interest rate on savings accounts as well as a lower interest rate on loans. You may have minimal or no fees on your checking account as well. The unfortunate reality is that bank fees and interest charges can add up, and they can negatively impact your financial situation without you being aware of the situation. Banking with a credit union is a great way to save money.
Friendly Customer Service
Many people have had the unfortunate experience of receiving poor service from their current bank or lender at least once or twice. Such incidents can be stressful. In many cases, you may not reach a desirable result for an issue you are dealing with. A credit union is often known for providing friendly, helpful customer service. They typically approach customer service from a local, personal standpoint to provide you with a better banking experience. To learn more, visit Windsor Family Credit Union and learn from their online resources.
Many credit unions have all of the same features, services and financial products that other financial institutions have. For example, they often have a well-developed website as well as a mobile app that adds convenience to your banking experience. However, they also offer more enhanced services and improve your banking experience in many ways. If you have never banked with a credit union, consider learning more about membership requirements and benefits at a few of the credit unions close to you today.