|
Lockheed Federal Credit Union
How to Find a Credit Union
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. A credit union is a not-for-profit, cooperative financial institution that is owned and controlled by its members. Credit unions serve people that share something in common such as an employer or place of worship.
However, there is another option that many people don't know exists: the local credit union. While it's certainly convenient to approach the bank for a loan, the process of applying for finance can be a rocky road and, at the end of it all, you might find that your income isn't enough to finance the repayments. Irrespective of how much you have in savings you are only entitled to one vote at the AGM of a Credit Union.
It should be noted that these institutions are not opened to everyone, but just those that are affiliated with the group that it serves. Furthermore saving members of credit unions are protected by the Financial Services and Compensation Scheme (FSCS), who provide a safety net for customers of financial firms in the event of the firm going out of business. It's quite easy, really.
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. Another benefit of Credit Unions is they are local, ethical and know what their members want. 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. Credit Unions Offer Plenty of Financial Services You can look up credit unions in your area that you might be able to join.
Use Credit Union San Diegoredit Unions - A Friendly Alternative To High-Street Finance Credit unions sole purpose is to serve their .....
Members benefit from being owners because each member then owns a 'share' of the credit union.
The Navy Federal Credit Union offers its members with competitive loan rates for mortgages, car loans, equity, education and other kinds of loans. You can also serve on your credit union’s volunteer board or one of its committees. 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.
|
