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Communication Credit Services Union
Advantages of Using a Credit Union
Credit unions sole purpose is to serve their member-owners. Credit unions sole purpose is to serve their member-owners. Credit unions sole purpose is to serve their member-owners.
Irrespective of how much you have in savings you are only entitled to one vote at the AGM of a Credit Union. Deposits are also federally insured with credit unions as they are with banks. But now, whatever holds together a credit union can be something less defined, a geographic region or social ties, for instance.
Credit unions also offer lower interest rates on credit cards and loans than banks. Each Credit Union has a 'common bond' which determines who can join. It's quite easy, really.
To become a member of a credit union you have to be within a 'common bond' area. As the main source of income for a credit union comes from the interest charged on members' loans, it is very important that the credit union be proactive in marketing the benefits and availability of their services. You will not need any collateral, no advance fees. Interest Rates are often better at credit unions compared to banks. Michigan's largest independent savings bank, with reported assets of $13 billion, is a member of a credit union league.
The Visa Check Card is perfect for Navy Federal Credit Union members who are frequent travelers.
Most major credit unions offer all of the same services as big banks. Credit unions may not offer the range of services that you can get from your local bank so check to see what is on offer before you join. With its consumer-friendly offers, the Navy Federal Credit Union truly allows members to maximize money management programs without worrying about extremely high fees and rates.
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