When searching for Banking and Financial Services it can be an overwhelming task. There is a multitude of options and companies to sift through. Most are in competition for your business and offer incentives to entice you to choose them. When seeking a personal touch consider a federal credit union. Credit unions service people with a common interest such as where they live or work. They are non-profit organizations which allow them to offer services with low fees. Since they tend to service a small group of members they can provide a personal experience. Many large corporations focus on profits for their stock holders by servicing as many consumers as they can. This can eventually lead to poor customer service and higher fees for its customers. Credit unions are almost the exact opposite.
Credit unions offer the same Banking and Financial Services as large corporations. Some services include checking and savings accounts, automobile and mortgage loans, credit cards, and various types of insurance. Since the credit union’s priority is to service their member’s fees and rates are low. Access to accounts is available through ATM’s, online and in-person just like conventional banks. Member fees are in most cases minimal, and rates are highly competitive for automobile and mortgage loans. These advantages provide a personal touch as it caters to the needs of the members. Westwood Holdings Group, Inc is just one of many federal credit unions that offer these services. There are many advantages in choosing a federal credit union.
Although credit unions are not insured by the FDIC, they carry their own insurance. As a non-profit organization when one joins you become a member as opposed to a customer. Federal credit unions do have eligibility requirements such as living, working or going to school in a certain area. There are a number of credit unions that you will find yourself eligible. Some allow the family of current members to join based on their relationship to that member. Opening deposit amounts for new members are usually minimal as well as any membership fees. Credit unions have all the advantages of large companies while adding the feeling of a personal experience. Joining a credit union may be a wise decision.
