Credit Unions: Membership Has Its BenefitsPosted by Credit Union of Texas on September 29th, 2017 If it’s time to establish a deposit account for personal or household needs, there are some distinct reasons why credit union membership makes sense if the option is available. While it’s true that credit unions offer many of the same services and financial products traditional banks afford customers, membership in a credit union comes with perks that go beyond the expected. Credit unions are not banks. They are not-for-profit, financial cooperatives that are technically owned by their members. Since they are not beholden to shareholders and driven by the need to earn profits at all costs, they take a different approach to helping people meet their personal financial goals. When a person opens a deposit account at a credit union, that person becomes a member and gains access to a slate of benefits traditional banks are unable to provide. Some of the benefits of membership include:
Credit union membership provides benefits that traditional banks simply cannot offer. When membership is available, this is a sound option for meeting personal financial needs. About Author Serving our community since 1931, CUTX is owned by its members and operated in accordance with the laws governing credit unions in the State of Texas. As a member, your deposits are federally insured by the National Credit Union Administration, a United States government agency. Like it? Share it!More by this author |