It’s not wise to simply stash your cash underneath your mattress, so that means that you have to store it at a bank or credit union. While you may be tempted to do business with a bank, you’ll likely be better off opening an account at a credit union. Credit unions offer several advantages that save you time, hassle, and money, so if you value your cash and enjoy great customer service, then check out these three big reasons to visit credit unions in Elmhurst.
Better Interest Rates
Most traditional banks offer very low-interest rates on their savings accounts, and that’s just not right. If you make the effort to save, then you should see your money grow. Credit unions offer higher interest rates so that your wealth can grow as you save. On the contrary, credit unions tend to offer lower interest loans and credit cards, meaning that you don’t have to worry about a ton of interest when borrowing money.
Local Focus
A credit union is a financial cooperative that’s owned by its members. That means that credit unions exist to serve their members, so your money won’t be funneled up to some faceless corporate hotshot 1000 miles away. Since credit unions are so intertwined with their members, they often take initiatives to improve the local community and serve the people to the best of their ability.
Lower Fees
Credit unions aren’t out to make a quick buck. Life is expensive enough, so they don’t want to squeeze you for every penny. When the credit union does well, its prosperity is shared with its members in the form of better interest rates and savings rates. On top of that, most credit unions offer lower ATM fees, better overdraft conditions, and fewer account maintenance fees.
You work hard for your money, and you deserve to see it grow. You shouldn’t have to pay a ton of extra fees, nor should you be nickeled and dimed at every turn. At a credit union, you can make the most of your money while keeping it in the local community.
