The Top 3 Benefits Of Using A Credit Union

There are plenty of published articles claiming banks are better than credit unions, however, there are plenty of advantages offered by credit unions.

The benefits offered by credit unions over banks are often overlooked, which is why we’ve laid out the top 3 perks of joining your local credit union:

The Majority Of Credit Unions Are Insured By the NCUA

What is the NCUA you ask? It’s short for the National Credit Union Administration, ensuring that credit union accounts are backed in full faith by the U.S. Government. To top it off, there has yet to be a single cent lost through a member of a federally insured credit union.

If you were wondering, First Choice Credit Union is NCUA insured.

Great Rates

All around, credit unions offer excellent rates, especially when compared to their big bank counterparts. Whether it’s credit card APR, Certificate of Deposit APY, Membership fees, and other miscellaneous items - banks are typically no match for the interest rates offered by most credit unions.

For The Members, By The Members

At a credit union, you’re considered a member rather than a customer at a bank. While labeling things may not seem important, the weight they carry is different. Credit unions are nonprofit entities that have the goal of passing their profits to members, while banks are for-profit entities, wanting to make money from their customers.


Other fantastic benefits such as great customer services and being a larger part of your community. We hope that these outlined advantages help you consider switching to your local credit union – that is, if you’re not already a member!

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