If you have been using a traditional corporate bank to store your money and utilize other financial services, you may be tired of dealing with fees and dealing with a business that is more concerned about making profits than customer service. Fortunately, there is an alternative. Credit unions offer many of the same services offered by traditional banks, but they operate entirely different than banks do. If you have always wondered about how these two organizations differ from each other, and are considering making a switch there are a few things to know. Credit unions offer essentially the same services that most banks offer. They provide checking accounts, savings accounts, loans, and a variety of other financial services to their customers. However, at a CU, the customers are the owners. When you use a CU for your financial services, you become a shareholder. Banks are run as for-profit businesses, so their entire existence is reliant on making profits for its shareholders, oftentimes at the expense of its customers. When joining credit unions, as an owner you have a direct say in the goings on of the organization, and you don't have to worry about any decisions being made by executives who do not have your interests in mind. Many people think that banks offer much more convenience than credit unions, but this is not necessarily true. Many CUs are offering more and more ATM locations and online banking options that are just as convenient as many commercial banks today. If you use a third party ATM with either banks or credit unions, you are going to be charged a fee, but both banks and credit unions offer a great deal of their own ATMs throughout the city or area in which there are physical branches. Many people find that their overall experiences at credit unions are much more friendly. These organizations often exist within a community, and its shareholders are all members of the community. You may find that you interactions at physical branches will be much more neighborly and overall more friendly. Plus, the fees are generally lower while interest rates may be generally higher. This means that you may be able to make a bit more money from the interest on your savings account, while being charged less fees for things like ATM usage and online banking. Before joining one of these organizations, make an appointment at a local branch and speak with a professional about all of your options. Interested in credit unions in Saginaw, MI? We are a well established and highly reputed organization with flexible services. For more information please visit our website at https://www.wildfirecu.org.
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