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Centris Fcu
Advantages of Using a Credit Union
If you belong to a labor union or are affiliated with a large employer, organization or residential community you might be interested in joining a credit union. Edward Filene, a department store tycoon is hailed as the father of credit unions in the United States. Credit Unions are mutual, co-operative societies which are governed by a volunteer Board of directors elected each year from the membership.
If this happens, you might then try your luck with one of the multitude of loan companies who advertise on television and in the press, or found on the internet. Repayment protection insurance is an available option to a borrower of a credit union loan. They offer financial services to members that are extremely similar to banks.
As a not for profit organization credit unions have a better tax structure than other institutions in the money markets. There are about 11000 credit unions in the United State. The savings can be significant.
Since our member are the owners, credit unions make sure to have it as convenient as possible doing business the way their customers want whether online, in person or over the phone. Irregular savers are just as welcome to credit unions as those people who are able to save money on a regular basis and usually all members, regardless of the amount saved, are paid the same percentage annual dividend on their savings. This is an additional benefit of taking advantage of a home equity loan. When you are approved your loan is to be paid by monthly allotment. No matter if you change jobs or retire from the Air Force or just move away, you could still join the credit union.
The Navy Federal Credit Union offers free debit card products like the Navy Federal’s CUCARD® and Visa® Check Card.
Some major credit unions are now starting to offer the same services as mainstream financial institutions like cheque accounts, credit cards. Dora Maxwell and Louise Herring, the mother of credit unions are two ladies who are known to have made it their life time mission to trigger the growth of successful credit union across the face of the entire nation. Credit union elections are based on a one-member, one-vote structure.
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