If youre looking for a new financial institution, its important to weigh all the options.
Another option to consider?
They also have great options for mortgages and auto loans.
So whats the difference betweencredit unions vs. banks?
Whereas banks are for-profit organizations, credit unions are member owned and not-for-profit.
Instead of being a customer, youll be an actual member of your credit union.
At credit unions, you typically get:
No Interest Til Almost 2027?
But traditional banks arent without merits.
If you dont meet a credit unions stated criteria, you cant join.
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Sound intimidating?
Many credit unions make the field of membership broad enough that almost anyone can find a way in.
Heres how to join a credit union.
Credit Union Eligibility
The easiest way to join a credit union is through your employer.
Many local employers have agreements with area credit unions that allow their employees to join.
If you leave that job down the road, you dont have to forfeit your membership.
When all else fails, reach out to your family members.
If youre related to a credit union member, the credit union will usually allow you to join.
You should also call each credit union to confirm youre eligible to join.
Make a deposit.To open a checking or savings account, youll need to make an initial deposit.
Typically, $5 should do the trick.
This money must stay in the account at all times.
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Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
