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Services Offered At Your Local Credit Union


The Many Services Offered at a Local Credit Union •

Are you currently enrolled in a savings or checking account at a traditional bank but are considering the option of making the switch over to a credit union in the near future? If so, then you may be wondering whether or not this is going to be the right decision for you.


The Many Services Offered at a Local Credit Union •

Perhaps you have heard about some of the benefits of making the switch, but what about the specific services that these financial institutions have to offer? This presentation will help you to better understand what they have to offer so that you can make a well-informed decision regarding whether or not it is in your best financial interest to make the switch.


The Services Offered By Most Credit Unions •

Most of these financial institutions offer the same kinds of banking accounts as you would expect to find at your local bank, though this can vary so it is a good idea to check with one specifically before you decide to officially make the switch. These basic services generally include anything from checking and saving accounts to IRAs, loans, and many other types of accounts.


The Services Offered By Most Credit Unions

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One specific benefit to using this type of financial institution, especially for a savings account, is the generally higher amount of interest that you accrue on such an account in comparison to a standard bank.


The Services Offered By Most Credit Unions •

Another thing that these unions have to offer is that of insurance on the money that its members deposits. This way, they can enjoy the peace of mind in knowing that their money is safe in the event of a financial crisis or other kind of emergency. Most of these financial institutions are Federally insured up to at least $250,000 for each individual account. This is competitive with the insurance amounts of traditional banks, though these can vary as well.


The Services Offered By Most Credit Unions •

These types of financial institutions also offer a more exclusive membership than traditional banks do. This is because most of them require those enrolled to meet what is known as a "Field of Membership." This may mean that they must belong to a certain community, organization. or other group in order to open an account at the union itself.


The Services Offered By Most Credit Unions •

This exclusivity is a benefit for those who enjoy being a part of the small banking community where members receive more personal attention and recognition. As a result, customer service is usually viewed to be much better with a union than with other types of banks.


The Services Offered By Most Credit Unions

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Finally, these financial institutions usually offer home mortgages, which is a great service to have access to. This is especially helpful for prospective home owners who are looking for a loan with a low interest rate that will save them money in the long run.


Is it Right for Me? • So if you are considering the option of switching to a credit union in the near future, be sure to keep the above services in mind as you make your decision. If these seem particularly valuable to you and you meet the requirements, it may be wise for you to switch.


Further Reading… • Servus Credit Union is Alberta’s #1 credit union offering tax free savings accounts, mortgage calculators & GIC’s. Visit us today at http://www.servus.ca/ to learn more about us and our services.


Services Offered At Your Local Credit Union