|
Credit Florida Teacher Union
Credit Unions - A Friendly Alternative To High-Street Finance
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. Credit unions allow members to pool their savings, lend to one another, and have a voice in the governance in the organization. A credit union is a non-profit financial organization that is owned and regulated by its members through a representative electoral board of directors nominated from the membership itself.
Credit unions offer several advantages over banks and other financial institutions. In fact the American Bankers Association made withdrawal of the tax-free benefits to credit unions as its moot point for the last two years. The Navy Federal Credit Union has been helping many men and women for over 70 years.
ATMs that belong to credit unions can easily be detected because there is a logo of the credit union at the back of the machine. You can get a loan for the new bike you’ve been wanting or just a nice stereo system you’ve had your eye on. Each year, your local credit union holds an annual election and meeting where members select candidates for the Board of Directors from among its members to represent them in setting the policies of the credit union.
Credit Unions Offer Plenty of Financial Services If in a divorce they want you to have a legal separation document. Looking around can pay off in spades. Try calling the National Credit Union Administration at (703) 518-6330 . All money management options of the Navy Federal Credit Union come with a free Visa Check Card with worldwide ATM access, free and unlimited access to Navy Federal ATMs, 24/7 online account access via the Navy Federal Credit Union Website, unlimited and free transactions through over 20,000 CO-OP Network ATMs and a variety of options.
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.
Your local credit union helps you make the most of your money. Not only are the rates low, but closing costs generally are much lower than those paid through a conventional lender. It may be worth retaining an account at your bank alongside credit union membership.
|
