You might have been using a Northlake bank for many years, but there are other options, including credit unions. Here are some reasons you might want to consider a credit union:
Accessible
Since most credit unions are focused on a single community or group of communities, they are very accessible when in your local area. When not in your local area, you usually won’t have to pay a fee to access your account.
Business Structure
Another reason you might consider using a credit union is because of the business structure. If you have money in an account at a credit union, you are part owner of that credit union. You have voting rights and can run for the board.
Low Fees
In general, these organizations also have lower fees when compared to traditional banks. This is mostly because of low overhead and because the credit union passes profits along to members. The vast majority, for example, offer free checking, and you might get great rewards like cash back, ATM fee refunds, or dividends.
Open to All
Many people can’t get a bank account for one reason or another, but a credit union can help these people by giving them access to financial services. In most cases, as long as you meet other requirements, as long as you can put money into an account, you can become a member of a credit union.
Support the Community
Finally, since these organizations are community based, it is obvious that they support the local community. By doing things like loaning money to small businesses, helping people purchase a home or car, and helping community members meet financial goals, the credit union indirectly supports the community.
Considering credit unions? Look into Leyden Credit Union near Northlake.
