Top 5 Reasons You Want to Join a Credit Union

When people think about checking and savings accounts, car loans and mortgages, they typically think of banks. However, most don’t realize there is an alternative. Credit Unions.
Here are the top 5 reasons why credit unions are a better alternative to a bank:
Credit unions are owned by its members, not shareholders.
Credit unions are democratically controlled by its members, and exist to provide financial services at competitive and fair rates.
Profits go back to you.
The one key difference is that credit unions are not-for profit organizations, so profits go back to the members by way of lower fees and extra benefits which could save you hundreds of dollars a year.
Better rates, lower fees.
Credit unions offer more bang for your buck over traditional banks. They typically pay higher interest rates on all deposit accounts, including savings and checking accounts. Credit unions also offer low APRs on mortgages, personal loans and credit cards.
Innovative products and services.
Credit Unions offer products similar to a bank such as checking, savings, mortgages and Home Equity Line of Credits. Most credit unions have the latest technology such as online banking and mobile apps where you can pay bills, deposit checks, monitor your accounts, and set up fraud alerts.
You’re part of a family, not just a number.
Personal and community relationships continue to be a driving force for credit unions as that is a part of their rich history. At the end of the day, credit unions make members a priority as we are held accountable to them and not shareholders.
Before deciding whether to join a credit union or become a bank customer, narrow down your top contenders based on what matters most to you. Or learn more about membership at Hawaii State FCU and why we are over 100,000 members strong.