|
Capital Educator Federal Credit Union
What is a credit union?
Edward Filene, a department store tycoon is hailed as the father of credit unions in the United States. A credit union is a not-for-profit, cooperative financial institution that is owned and controlled by its members. The standard means of obtaining credit via banks has become so widespread that it is easy to believe there is no other option, but there may be an alternative in the form of the little known credit union movement.
To find a credit union in your area, visit the credit union locator page on the Credit Union National Association web site. Historically, credit unions served the employees of one particular company or the members of a specific occupation. Historically, credit unions served the employees of one particular company or the members of a specific occupation.
Is becoming a member of a credit union right for everyone? All proceeds are returned to the members and not some outside source such as stockbrokers. Take out a car loan that suits you the most.
If so, you may want to add these items to your comparison chart as well. There is really no way to gauge service than by either contacting the credit union, or walking in the door. The top management of a credit union is usually run by volunteers who don’t receive salaries; banks, on the other hand, have a board of directors who receive monetary remuneration. The Navy Federal Credit Union offers free debit card products like the Navy Federal’s CUCARD® and Visa® Check Card. You can look up credit unions in your area that you might be able to join.
If you attend religious services, ask the administrative staff if there is a credit union that is affiliated with your church.
Now look at what products and services you use on a regular basis. All money borrowed from or saved with a credit union must be in the name of a member. All you have to do is compare them all by convenience, rates, products and services.
|
