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Norton Community Credit Union
Advantages of Using 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. There are many amazing benefits to being a member of the Navy Federal Credit Union. Credit Unions are not for profit institutions.
Among the benefits of being a member of a credit union in the U.S. is ownership of an ATM card that can be used in a number of automated teller machines without surcharge fees. For your membership of your credit union, you gain access to lower rates on loans, higher rates on savings and lower fees. After all, you already trust them to look after your money and their current loan rates are good so why go anywhere else?
Among the areas covered by its network of ATM machines are Pennsylvania, Maryland, Michigan and Delaware, with a few machines located in Illinois, Wisconsin and Chicago. It's quite easy, really. Take out a car loan that suits you the most.
Credit unions provide pretty much the same services as banks but have some important loan-related advantages over banks. Michigan's largest independent savings bank, with reported assets of $13 billion, is a member of a credit union league. Again, because you are a member-owner of your not for profit credit union you derive financial benefits that are reserved for stock holders at for profit banks. Try calling the National Credit Union Administration at (703) 518-6330 . Apart from credit unions, the concept of a credit union league is also attractive for independent banks in the U.S.
If so, you may want to add these items to your comparison chart as well.
Credit unions are known to provide better and competitive mortgage rates and equity loans. Many young families who are just starting out have very demanding financial needs and most often they are required to stretch their limited dollars. The Navy Federal Credit Union offers its members with competitive loan rates for mortgages, car loans, equity, education and other kinds of loans.
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