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Pinellas Fcu
Amazing Benefits of the Navy Federal 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. 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.
The main difference is that members actually own the credit union of which they are a member. This aspect of credit unions is particularly appealing given the increasing alienation many consumers are feeling from mega banks. For your membership of your credit union, you gain access to lower rates on loans, higher rates on savings and lower fees.
Credit unions also offer lower interest rates on credit cards and loans than banks. Fees tend to be much lower at credit unions. Credit Unions are financial co-operatives owned and controlled by their members.
In other words, you get higher interest rates on basic savings (share) accounts, interest-bearing checking accounts and CDs. This is an additional benefit of taking advantage of a home equity loan. These Federal credit unions ensure that their members share accounts through the National Credit Union Share Insurance Fund (NCUSIF) for the security and safety of the credit union. You can look up credit unions in your area that you might be able to join. Some Credit Union Credit Cards offer amazing password protection as well as zero liability for fraudulent purchases online, in stores and by phone.
Credit unions provide pretty much the same services as banks but have some important loan-related advantages over banks.
Credit unions are not just a means of obtaining cheaper loans. Being a member of the Navy Federal Credit Union can save you hundreds of dollars. Overall, credit unions offer an easy and convenient way to save and borrow and can provide a focal point for a community by bringing people together, to both help each other and to help the community as a whole.
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