What Everyone Should Know About Credit Unions
Credit Union Benefits
There are many benefits to using a credit union instead of a traditional bank. Here are some of the best benefits credit unions offer.
- Credit unions are not-for-profit cooperatives that exist solely to provide financial services to their members, and anyone can find one that he or she is eligible to join.
- Unlike banks, it’s the members, not corporate shareholders, who own the credit unions.
- When you use a credit union, the money you deposit stays in the community. Your dollar can become someone’s college degree or a loan for a family’s first home. These local reinvestments are the seeds that keep communities growing.
- Many credit unions offer financial literacy classes to help members make more informed financial decisions.
- All the profit that credit unions bring in goes back to members in the form of dividends, rebates and lowered interest rates
Learn more about credit unions at “Make Your Money Matter” (www.makeyourmoneymatter.org) a grassroots campaign introduced by eight credit unions from across the country and PSCU that aims to educate a new generation of consumers about the wealth of benefits credit unions provide over big banks.
“The impetus for this joint campaign came from the fact that credit unions offer all the products and conveniences you’d expect from a big bank, but unlike those big banks, credit unions are built around strengthening communities by providing low-interest loans and giving all their profit back to members, truly ‘making your money matter,’” said Fredda McDonald, Executive Vice President, PSCU, a leading provider of traditional and online financial services to credit unions. “With membership, the money you deposit stays in the community – your dollar could become somebody’s college degree or a loan for a family’s first home – and it’s these types of reinvestments that draw local-minded consumers intent on consumption that keeps communities growing.”
“This post is sponsored by Make Your Money Matter, in association with PSCU, though all views expressed are my own.”
