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A Look At The Credit Union Advantage

A LOOK AT THE CREDIT UNION ADVANTAGE WHAT IS A CREDIT UNION? Credit unions are... NOT-FOR-PROFIT, unlike traditional banks OWNED by their members $0$ Run by a VOLUNTEER board of directors Financially STRONG Known for exceptional SERVICE WHAT ARE THE BENEFITS OF CREDIT UNIONS? DEMOCRATIC DECISIONS o Run by and for the members o For-profit banks are only accountable to stockholders, not customers I VOTED NON-PROFIT STATUS o Profits are shared with members o Exempt from federal taxes, so no passing on the expense to members CUSTOMER SATISFACTION o Surveys show credit union members are consistently more satisfied with service than bank customers o Operate from a People Helping People standpoint LOWER RATES o Being member-owned allows for $0$ lower interest rates o Fewer fees since the institution is not-for-profit $0S PERKS o Many credit unions offer educational classes and resources for finances o Focus on improving the community that the credit union serves MEMBERSHIP o Many different kinds of people are eligible for credit union membership o Membership lasts a lifetime even if your qualifying circumstances change FAMILY FOCUS o Spouses, children, grandchildren, siblings, and parents of members are automatically eligible o Family members are also able to remain members for as long as they want PROVIDED BY: GCS CREDIT UNION wwW.MYGCSCREDITUNION.COM SOURCES: FOLDER=About+Us&SUBFOLDER=What+ls+A+Credit-Union

A Look At The Credit Union Advantage

shared by BrittSE on Aug 24
Credit unions are exempt from federal taxes. That means there are no federal tax expenses to pass down to members! See other reasons to leave a traditional bank and join a credit union by taking a loo...


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