Benefits of a Credit Union

Benefits of a Credit Union


Did you know that people who use a credit union for financial services are referred to as "members" instead of "customers?" This simple distinction illustrates the difference between a bank and a credit union. Credit unions are based around the idea of "people helping people," which means you can expect your credit union to really listen to your concerns and the concerns of your community. If you're opening a checking account for the very first time or you're considering switching from a bank to a credit union, take a moment to discover the many benefits of a credit union . . . 

Benefits of a Credit Union

You are a member. As I mentioned above, you will be a member of your credit union and your membership gives you certain rights. Each member has the ability to vote on changes, and members can be elected to a volunteer Board of Directors that represents all account holders. In addition, this means that the credit union is driven by the collective benefit of all members. 

You reap the benefits. Credit unions are not-for-profit organizations, so the profits they reap from account holders are given back to members in the form of lower interest rates, fewer fees, and higher return rates on savings. When you pay a fee, you'll know that the money is benefiting you and your community, not a money-hungry financial institution. Credit unions are formed to meet the financial needs of a community, after all, not to amass more money.

You will be offered helpful services and perks. Credit unions are very similar to banks in their services and products, though every financial institution is different. You can use your credit union for a number of different purposes including opening checking and savings accounts, receiving a home loan, obtaining a credit card, and making investments. Plus, you'll receive complimentary perks like low rates, low fees, financial advisory services, online banking, free classes, and more.

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With the welcoming customer service they offer to every member, their high levels of customer satisfaction, and all the benefits we've listed above, it's easy to see why so many Americans are choosing to place their money and their trust in credit unions. 

Are you interested in joining a credit union? If you live or work in southwest Missouri, check out BluCurrent Credit Union. With our unbeatable loan options, 6,800 shared branches across the country, and fantastic customer service, we might be the perfect financial service for you. In addition to our three locations (two in Springfield and one in Nixa), we also offer online and mobile banking for your convenience. Plus, we provide nationwide ATM fee refunds with our checking accounts! To learn more about our services and benefits, please stop by one of our branches or explore our website. We would be happy to help you further understand the differences between banks and credit unions. 


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