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State Employee Credit Union Home
Credit Unions - A Friendly Alternative To High-Street Finance
Credit unions sole purpose is to serve their member-owners. 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. Edward Filene, a department store tycoon is hailed as the father of credit unions in the United States.
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. Depending on the borrower's job, there are many types of repayment loans available on the menu at a credit union.
Credit Unions are financial co-operatives owned and controlled by their members. It's easy enough to find a credit union, if you are willing to look. Most credit unions are extremely competitive with the list of services that a bank offers.
To become a member of a credit union you have to be within a 'common bond' area. Interest Rates are often better at credit unions compared to banks. They don’t want you enrolled in any credit counseling or credit repair program. In Estes Park, Colorado, a conference was held to conceptualize the establishment of the Credit Union National Extension (CUNA). They offer free checking accounts with a free debit card.
Members can also use the Visa Check Card at any CO-OP Network and Navy Federal ATMs worldwide, without fees.
Online banking, free bill pay and investment services are common at credit unions. You may become a shareholder faster than you thought. All members of the Navy Federal Credit Union can make loan payments, order checks, open certificates, apply for various loans, request stop payments, send e-messages and transfer money from other Navy Federal accounts.
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