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Congressional Fcu
Credit Unions - A Friendly Alternative To High-Street Finance
If you are looking to borrow some money to pay for a dream holiday, buy a car or make some improvements to your house, it's likely that your first port of call in looking for finance will be your bank. Credit unions sole purpose is to serve their member-owners. Credit Unions are not for profit institutions.
Credit Unions work by having members pool their savings together, which can then provide a fund from which loans are made to other members. The key to becoming a member of a credit union is what is known as the ‘common bond’. Credit unions offer several advantages over banks and other financial institutions.
Visa Check Card - Members of the Navy Federal Credit Union can apply for the Visa Check Card to pay for services and goods at all Visa-accepted stores, online shops or via phone. Make a note of all of the ones you require, and just think are cool, but don't really need. The Navy Federal Credit Union CUCARD is available to members, who can use this ATM card at any CO-OP Network and Navy Federal ATMs, without any fees, worldwide.
All you have to do is prove that you can save before any loan will be offered but once proven, financial assistance will be offered based on how much you can save or tailored to your individual circumstances. What does it cost to do business at each credit union? For example, the loan amount can be funneled for the payment of medical bills, small household bills, credit card dues, education dues, etc. There is really no way to gauge service than by either contacting the credit union, or walking in the door. Another benefit of Credit Unions is they are local, ethical and know what their members want.
Interest Rates are often better at credit unions compared to banks.
Once you become a member of the credit union you always remain a member - as long as you maintain an account. Your local credit union helps you make the most of your money. Because credit unions are democratic, member-owned cooperatives, every member, regardless of account size, has a voice in governance.
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