More and more people are opening up a credit union checking account! Getting higher savings rates and lower service fees in the long run. Depending on one’s personal banking needs, credit unions have many helpful features to take advantage of. The first step is finding a reliable financial institution to open up an account with.
1. Credit Union Membership Comparison
Credit unions are a non-profit financial institution which is governed by its individual members. Many having special eligibility requirements for new customers. These usually include:
* Personal Living Community
* Place Of Employment
* Religious Sector
* College Fraternity Membership
2. Researching Credit Union Services Offered
Credit unions are financial institutions that offer various features. After determining those which are most beneficial, narrow the search down to a select few. When looking for institutes who offer mobile or online banking options; keep this in mind while researching.
3. Select A Credit Union Who’s Insured
A credit union which is insured has the ability to pay its members back in the event of failure. The NCUA (National Credit Union Administration is an independent agency which charters and administers Federal Credit Union activities. Most United States credit unions are required by the National Credit Union Administration to be insured. Such as the Federal Deposit Insurance Corporation (FDIC). The NCUA has a website provided to users surrounding information on their financial health, insurance status, and union size. This valuable resource can be utilized in any area of the US.