Credit Union Services

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Credit Union Services Provided by Good Rates

The common credit union offers the exact same services that a lender does, but frequently at better charges. That means higher rates of interest on investments reducing interest rates on loans. Credit union services are worth looking into if you want to open up a new account. One thing to know is that to spread out an account at a credit union, you must meet the criteria how the bank requires for you to join. Unlike any bank, where you can now open an account or even ask for a loan, credit unions only take people who fall into the precise category, by occupation or location, that their charter allows. If you do, then the credit union services will be available to you.

Like a bank, your credit union services should include everything from opening checking and savings balances to taking unsecured loans, investing your money, obtaining a credit card, or having access to a great ATM. The differences are often in the costs of the services. They shall be less. This is in part because most credit unions are set up to be run with a volunteer board in which consists of members of the particular credit union. This is important because, although the credit union runs by professionals, the financial institution is run for the members by the members. This can be one of the things that make credit unions therefore different from banks.

A person who wants to use the credit union services of the standard bank that they have joined must understand that the money they put to the bank becomes available to those other members who want to take a loan. This is how they generate the interest a member tends to make on their savings account. Credit unions tend to be encouraging new members which includes commercial accounts to maintain themselves growing. You will end up pleased to know that the credit unions offer many benefits for many who bank there including life insurance on lending options, easy to get unsecured loans with quick flip arounds on decisions occasions and easy access to credit charge cards with varying restrictions. Credit unions offer everything that the local banks do, they just do it better!

Comments: 44

  1. Leesa May 20, 2013 at 8:54 pm Reply

    I went to go buy a car today but the interest rates were ridiculous. My mom told me that i can get no higher than an 8% interest rate if i financed the car through the credit union with the store that i work at. She did the same thing for her car and the credit union financed the car at a 6.5% interest rate which when compared to 25% is not that bad. Are there certain requirements i have to meet before i can get this benefit?

  2. Lorna June 2, 2013 at 8:25 am Reply

    I am moving to a place where my current (sucky) bank does not have any branches. I heard that having a credit union account will help your credit score far more than a bank account will. Is this true?

  3. Frederic June 9, 2013 at 4:38 am Reply

    I’m wanting to do checking, ATMs, online banking and am looking for a bank with friendly service, as few fees as possible, etc. Which bank or credit union is best?

  4. Indira June 26, 2013 at 1:07 am Reply

    For instance, I’m a Chase Bank customer.
    What would I lose out on if I withdrew my monies and opened an account at my neighborhood Credit Union?

  5. Clorinda June 26, 2013 at 3:07 am Reply

    So yeah what are the differences between a bank and a credit union?

    Does each have its own pros and cons?

  6. Son July 9, 2013 at 11:59 pm Reply

    I have a Share Savings account at Navy Federal Credit Union with a min of five dollars in it. There is a Navy Federal student loan that is serviced by Great Lakes Educaiton that shows up with my accounts at NFCU. When I called to close my savings after I closed my checking they told me they could not close my savings because I had a student loan balance with them still even though it is not in repayment yet. Is this legal? Can they legally refuse to close my savings account even though it has nothing to do with my student loan account?

  7. Delisa July 28, 2013 at 8:44 pm Reply

    Ok i wanted to know the difference between these 2. I am looking to start a checking account and my gf suggests to try a bank like wamu and my mom suggests to join a credit union.

    Whats the difference?
    and benefits?

    Note: I know about the recent wamu change

  8. Lesley August 11, 2013 at 4:38 am Reply

    I know this is kind of a general question…but as a general rule of thumb, what are the pros and cons of using a bank and using a credit union?

    Why would I want to bank at a bank, rather than a credit union, and vice-versa? I’m asking because I need to open an account somewhere in a new area (Cali), and I need to know where to smartly put my money.

  9. Ermelinda August 12, 2013 at 2:29 am Reply

    What is the difference between a bank and a credit union?

  10. Brooks October 18, 2013 at 4:41 am Reply

    Is there a reason for this? Does the bank offer services the credit unions don’t?

  11. Patricia January 23, 2014 at 1:56 am Reply

    I have been hearing a lot of good things about credit unions. What are they exactly? Are they better then banks? Do you get good discounts?

  12. Valentin February 2, 2014 at 11:33 pm Reply

    I have to write an essay about credit unions in order to try and get a scholarship for college, but I don’t know much about them. So any information about credit unions or your experiences with them would be great

  13. Darwin February 15, 2014 at 5:21 am Reply

    I want to find out more information on credit unions, i would like to know what they are, and how they work.

  14. Delma February 16, 2014 at 9:08 am Reply

    Which do you prefer

  15. Leonor February 17, 2014 at 1:43 pm Reply

    I’m getting married next year and the both of us will only be 18. Now, because of this we don’t really have credit to speak of. But for the wedding we’ll have to take out a smaller loan because we won’t have any help from family.

    I’ve heard of credit unions, and how would they differ from a bank? I’m clueless, really.

    Thanks!

  16. Phung February 18, 2014 at 9:42 am Reply

    explain exactly what a credit union does

  17. Enid February 21, 2014 at 6:55 am Reply

    I’m trying to get out of debt (about $5000 total) and credit unions were mentioned. What is a credit union? What do they do? How do you join? I’m basically just asking for any info about them and any personal experiences with them.

    Thanks! 🙂

  18. Gerald February 21, 2014 at 1:50 pm Reply

    Hi ppl,

    I waws wondering what type of bussiess does the vancity credit union does?

  19. Meagan February 21, 2014 at 1:50 pm Reply

    My company has a great credit union that i’m thinking of joining. However, i dont know exactly what a credit union is. Is it like a bank? do i move all my money from the bank i bank with now into this credit union? I have heard that credit unions offer good loans for home buyers? Any advice appreciated.

  20. Jason February 21, 2014 at 10:04 pm Reply

    I have seen posts that claim this. I have Bank of America and I’m thinking about switching banks because of their unethical conduct.

  21. Danna February 22, 2014 at 8:20 am Reply

    Pros VS Cons of one to another? Why would you choose
    A bank over CU
    A CU over a bank?

    Opinion from both sides please. Thank you!

  22. Renay February 26, 2014 at 4:44 pm Reply

    Is credit union similar to a bank? is there a advantage or disadvantage to a bank?

  23. Shalon February 26, 2014 at 5:44 pm Reply

    I’m hearing more and more about people leaving banks and going to credit unions. What’s the difference and which one is generally better?

  24. August February 27, 2014 at 7:21 pm Reply

    Can anyone please explain to me what credit unions are?

  25. Ronnie March 5, 2014 at 7:11 pm Reply

    Do any of you like credit unions better than banks?? Thanks

  26. Forest March 9, 2014 at 4:47 am Reply

    I’m not in a stage in my life where I need to know this right away, but for the future it might be nice to know.

  27. Roberto March 11, 2014 at 10:31 pm Reply

    I am looking for a credit union to apply to in the bay area (san jose, ca).
    also some information about credit unions vs a bank. one with lower interest and easy to apply to. i am a college student looking for a car loan. what do i need to bring when i apply?

  28. George March 11, 2014 at 10:33 pm Reply

    I’m going to be a freshman at college this year, and now I’m finally getting to choose a banking situation for myself (separate from my parents), and there’s so many choices! But one of the major differences I’ve noticed is the choice between a Credit Union and your standard bank! What’s the difference? Would one be better for me as a college student than the other? I don’t need to take out college loans right now, but for regular checking and saving needs… Which is better?

  29. Nicolas March 11, 2014 at 10:39 pm Reply

    My mom said credit union will finance me on cars and stuff. I am 18 and making my first bank account tomorrow. I am getting one for direct deposit for my new job. I want Wells Fargo but she thinks I should go to credit union.

  30. Erika March 11, 2014 at 11:05 pm Reply

    can some1 plz explain to me the difference between the two.. and which is better?? and why??

  31. Karla March 19, 2014 at 5:23 pm Reply

    I am trying to get a truck by myslef right now, I just have no credit. Not bad, just no credit. So everyone says my best bet is a credit union. Now do I need to become a member of this place? Some say its a yearly fee but theyre more giving to members than nonmembers. And if I do become a member, can I negotiate a loan that day, or do I have to wait like a week? What do i say? What do I ask is really my question. What is a credit union?

  32. Nola March 19, 2014 at 5:23 pm Reply

    I am a Sophomore in high school and I am about to get my first job. I am wondering if I should put my money in a credit union or a bank? Also please explain Pros and Cons of both, and interest and what not etc.

    Thanks!

  33. Tessie March 19, 2014 at 5:23 pm Reply

    I had some issues with a bank account before I was 18, didn’t manage money well. So now I am unable to get an account with Wells Fargo, Bank of America, US Bank or Chase. They say it’s because my Checks System scan denied me… Problem is I am in my mid 20’s and I have not had a bank account since I was 19 and I never had checks before, EVER! But they insist my Checks System scan says I have a bad history. Everything they mention was my issue, so no fraudulent banking in my name.

    How can I convince the bank that I have NEVER written a check in my life and the Checks System scan is wrong?

    My friend told me about Local Credit Unions and how they may get me an account without checking my Checks System Scan. I am looking for answers from people who know about and use(d) local Credit Unions or have had a bank but switched to a Credit Union. What is the difference? Should I try? I have no credit that I am aware of so if they need a good score, well I have no score yet according for free credit score checkers, says it is too low or none existent.

    Bank vs. Local Credit Union? Why and what are some comparatives? Do you think I will be able to get an account easier? I just received my tax return, finally after some issues with the IRS, and would like to cash it. Banks won’t unless I get an account due to the amount, which I cannot. And a Check cashing place charges 22%. For a $4K+ check, that’s a big chunk. I am tired of holding on to cash, I need to put what I have in a savings account and some in a checking to pay bills by debit card, a lot easier.

    Thanks for you help! 😀

  34. Justin March 25, 2014 at 4:58 pm Reply

    i currently have an account with chase bank, but would like to close that account and put my money in a credit union. I don’t know how it is much different than a bank except I’ll own a share of the the credit union.

  35. Dorthea March 25, 2014 at 8:33 pm Reply

    What are the differences from an employee standpoint and an customer standpoint?

  36. Berneice March 28, 2014 at 4:59 pm Reply

    I’m just trying to figure out the benefits of each.Please help me out if you can.

  37. Florentino April 16, 2014 at 10:53 am Reply

    whats a good credit union? and how do they work?

  38. Penelope April 20, 2014 at 8:50 am Reply

    I have to write an essay about it

  39. Raymonde April 20, 2014 at 8:50 am Reply

    I am just wondering, like i apply for personal and auto loans through my bank “wells fargo” and they will not let me get any loan without a cosigner and my credit is not good enough to get it by myself yet. im 19 and i need extra money for school supplies and hopefully a new computer and also i want a car….nothing brand new or too expensive but just to get me to work and school, im not sure what i should do. I work at a grocery store and make average at least 200 a week. Should i try at a credit union, do they usually work with people with little credit? help please!!!

  40. Gabriel April 20, 2014 at 8:51 am Reply

    I work for a major museum,need a loan,but I don’t know how they work.

  41. Bernard May 5, 2014 at 5:28 am Reply

    I am starting a career after finishing my B.A. and M.Ed, and I am getting really overwhelmed with the process of paying back student loans and costs of college. Would a credit union be able to help me, at least for financial advice? I would like to consolidate my loans (Federal and Perkins), and possibly get a better rate on my car payments, but I’m a little fuzzy about how a credit union works in the first place.

  42. Rusty May 5, 2014 at 6:17 am Reply

    from your experience, what is the best credit union
    i’m a member of a credit union an i’m thinking of switching
    i asked GTEFCU for a car loan and their interest rate was 11%
    my credit is pretty good but i thought to myself
    oh well maybe that’s what i deserve
    my friend encouraged me to apply for another credit union, i did and asked for a loan THEIR INTEREST RATE WAS 6 %.

    so i’m aksing ya’ll…. what’s the best credit union

  43. Britteny May 18, 2014 at 12:50 am Reply

    Are they like banks? Does the US have them? How do they work?

  44. Berneice June 10, 2014 at 6:45 pm Reply

    I Bank with Chase but I’ve been thinking of moving my business to a Credit Union; what are the differences?

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