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Advantages of Credit Unions - Banking With A Personal Touch - YouTube
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hi I'm Judy cope and barger welcome back
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to the amazing impactful life changing
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best information ever Channel there are
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so many types of banks out there chances
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are you're already using one we all need
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a place that we can go to keep our money
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safe make loans and open lines of credit
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but where we choose to place our
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financial trust is no small deal and I'd
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like to share an option with you that
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you may not yet be aware of so sit tight
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stay right there and let's discover how
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credit unions may have a huge positive
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impact on your future unlike traditional
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banks credit unions are nonprofit
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organizations that operate similarly to
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banks in terms of services that they can
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provide however the main distinction is
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that credit unions are owned and
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controlled by the members of that credit
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union so as a member you also get a vote
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and decisions that affect the
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organization because credit unions are
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nonprofit entities they focus on
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covering operating costs and ensuring
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that the members are happy rather like a
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bank then trying to make the
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shareholders happy and creating huge
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profits this focus on the member
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experience is the main benefit because
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lower fees result in more savings for
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those members that's you at credit
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unions you can expect better interest
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rates on savings accounts loans and
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mortgages and they'll almost always be
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available for you if you aren't
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completely confident about what interest
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rates means be sure to take a minute to
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watch a great video called what is APR
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how to determine the cost of a loan I'll
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link it for you here and again at the
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end of the video credit unions are
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actually communities that approach
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members like you with a personal touch
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if you have a poor credit or low income
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they don't just tell you to leave
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they're often willing to work with you
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and maybe even educate you on how to
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improve your financial situation this
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all sounds wonderful right so what's the
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catch you might ask
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well it's the same as any challenge that
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are faced by people who may live in a
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small town accessibility accessibility
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is a big factor there are only so many
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locations available so ATMs and banking
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assistance may be harder to access while
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traveling
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you can't expect all of the technology
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that the big banks may have available
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for the hottest app or the nicest
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website not everyone can be a member
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either some credit unions are based on a
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specific area of residence or a certain
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demographic you may have a requirement
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of being part of a certain community
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like a line of work to be part of the
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accepted credit union community chances
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are likely that there's a credit union
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that would just love to have you
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just make sure that it would be the
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right banking situation for all of your
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needs and if you travel a fair amount
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and would require the large network and
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the latest banking technology this may
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not be the right option for you if you
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like the community aspect and personal
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touch this may be a great option for you
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and for your financial future make sure
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to do your homework and find out about
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the requirements and fees before you
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make any decision
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what heavier experience has been with
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credit unions have you used one or even
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consider this option before let me know
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in the comments below and thank you so
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much for joining me today share these
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videos with loved ones that could
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benefit from this information and make
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sure to follow my channel for more ways
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to achieve the financial future you
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deserve I am Judy k枚ppen burger see you
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next time and God bless
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