Platinum Swing Trade Alerts

The 10-Buck Broker (Long-Term Stock Picks)

Announcement

Collapse
No announcement yet.

7 Reasons To Choose Credit Unions

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • 7 Reasons To Choose Credit Unions

    Smaller focus

    Similar to mom and pop businesses, these lending institutions tend to be smaller operations than regional and national bank chains. Their smaller size means that they will likely be more focused on establishing quality services for their customers and spend more time making sure their customers are happy than larger corporations. This aspect is great for customers who would prefer to support businesses with a local focus.

    Better Interest for Cards

    According to information from the NCUA, last year's average credit card interest rate was 12.85 percent at banks, versus 11.56 percent for credit cards issued from credit unions. This isn't a huge difference, but less is always better when it comes to interest rates. Union cards also tended to have lower fees and fewer in general.

    Easier to borrow

    There is no need to await your loan status on tenterhooks since lending decisions are normally made locally, which means quicker turn-around time and more flexibility than loans with large corporations. Some can also offer signature loans to members who have good credit and standing.

    Less chance of failure

    Banks, insured by the Federal Deposit Insurance Corporation fail much more frequently than their counterparts. 44 FDIC insured institutions failed in 2011. That's not to say credit unions have no chance of failing-9 NCUA insured institutions failed in the same year. However, there is much less chance of this happening since they are generally smaller and not as focused on profit. This means that they will loan less frequently and accept fewer risks

    Lower loan rates

    More often than not; these lending institutions can offer their customers lower loan rates. Last year, the National Credit Union Administration released information that confirmed that the average rate on a 36-month loan was about 2.85 percent. Compare that rate to an average 5.59 percent at banks, which is nearly twice the amount.

    Run by customers

    You can have confidence doing business with your credit union. Why, you ask? Because each member is also a partial owner, meaning they also have a stake in the success of the union. It is also managed and staffed by its customers on a volunteer basis. As a member, you even have the option to run for a seat on your union's board of directors, which is not feasible at a bank.

    Better savings rates

    The NCUA also gathered data that confirmed that interest rates for at least 10 different types of savings accounts, including savings and checking, tend to be a little higher at credit unions than they are at banks. And who doesn't want more money for their deposits?


    Article Source: http://EzineArticles.com/8412360
    Platinum Swing Trade Stock Alerts(FREE 14-Day Trial)

    The 10-Buck Broker (Long-Term Stock Picks)


    Best Stock Picking Services

    Sign up for the forum to reply to this post!!!


    Best FOREX Signals Software

    Stock Market Investing For Beginners


    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."

    Good KARMA and positive energy abound.


    Terms Of Service

    Disclaimer: This website provides information about the stock market and other investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for informational purposes only. The Author of this website is not a registered investment advisor and does not offer investment advice. You, the reader, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

    Promoted content: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this website and may receive commissions from purchases you make on subsequent websites. Always exercise due diligence before purchasing any product or service. This website contains advertisements.
    Best stocks to buy now Stock Market
    Best stocks to buy now
    Dow Jones TodayDJIA
Working...
X