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Simpson Community Credit Union
Credit Unions - A Friendly Alternative To High-Street Finance
A credit union is a profit sharing, financial co-operative run democratically by the members of the union itself. 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 are community-based financial cooperatives that are owned and controlled by members who are also shareholders.
To find a credit union in your area, visit the credit union locator page on the Credit Union National Association web site. Since credit unions are non-profit organizations, they offer car loans at highly competitive interest rates. Credit unions are cooperative financial institutions and are governed by its members.
As a homeowner, home equity loans allow you to use your equity as the collateral. Massachusetts was the first state to pass a credit union law. Credit unions combine these services with many other benefits such as personal service, generally lower interest rates and higher investment returns.
50 per ATM transaction at major banks tend not to be as big an issue at credit unions due to large, cooperative ATM networks which include as many as 25,000 ATMs nationwide. Apart from credit unions, the concept of a credit union league is also attractive for independent banks in the U.S. For example, the loan amount can be funneled for the payment of medical bills, small household bills, credit card dues, education dues, etc. Since our member are the owners, credit unions make sure to have it as convenient as possible doing business the way their customers want whether online, in person or over the phone. 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.
There are still a number of smaller credit unions in existence so be sure to ask about the services offered before you join.
The Navy Federal Credit Union offers its members with competitive loan rates for mortgages, car loans, equity, education and other kinds of loans. Online banking, free bill pay and investment services are common at credit unions. Your local credit union helps you make the most of your money.
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