Fed up with the banking system? Fire your bank and join a Credit Union! Most often you will find better deals on loans, checking accounts, savings accounts, and service.
How is this possible you ask? Credit unions are not-for-profit financial institutions. They are organizations which are owned and controlled by their members for their members.
Are they safe? Credit Unions are insured by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF was established in 1970 to insure credit union member's deposits up to $100,000. This was the amount the FDIC had in place before some shady practices caused the financial crisis.
Credit unions have been rated number 1 in financial institution's customer satisfaction for 10 years according to the American Banker Newspaper's satisfaction survey. So next time you receive poor service from your bank remember that the primary mission of a credit union is to provide service to its members.
Jan 31, 2009
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