Big Benefits of Credit Unions Win Over Big Banks as Consumers? Choice Financial
Posted by Belco Community Credit Union on July 16th, 2018
How a Credit Union in PA Can Help You Save Money
Consumers are generally smarter with their money these days. For this reason, more customers choose credit unions. From lower loan rates, to no-minimum-balance accounts, to checking and savings accounts set up for specific purposes, credit unions help you save money during business-as-usual financial transactions.
Lower Loan Rates
Credit unions take care of their members, offering the best loan rates on the market. An average credit union loan rate could be over 3% less versus a big bank loan rate. The same applies for credit cards; a credit union’s average interest rate can be much less as compared to the big bank rates for a consumer with good credit. These lower rates mean you pay much less over the term of the loan or credit card, and your monthly payments are a more manageable amount. This further frees up your hard-earned money to be used in other areas of your life.
Beat Your Rate
At Belco Community Credit Union, we will beat your current auto loan rate by 0.50% or pay you for your time. This offer is a limited-time offer, so refinance your vehicle with Belco to save some additional money.
Minimum Balances Not Required
Belco Community Credit Unionin PA can help you save money with no minimum balances.You will not be charged fees for accessing your own money even if you go below a certain dollar amount in your accounts. Most credit unions do not require minimum balances in active accounts.
Specialized Savings Accounts
The Matrimony Wedding Registry and the Xtreme Teen Savers Club are two examples of specialized savings accounts which help credit union members save money. The Matrimony Wedding Registry account allows people to make monetary gifts to the newlywed couple conveniently right into their account. The Xtreme Teen Savers account comes complete with financial education on balancing a checkbook, getting a first credit card and managing money wisely, among other benefits.
Credit unions are nonprofit cooperatives which are member-owned and driven. Thus, they offer a very high level of service to their members, along with the lowest rates on loans and credit cards.
About Author (belco.org)
Belco Community Credit Union provides unparalleled excellence through its variety of products including members-only checking, savings, loans, business services, and investment vehicles. To find out more about Belco Community Credit Union, visit www.belco.org.
