Why Choose a Credit Union?
Credit unions are like banks, only better
Many of the Young & Free Spokespeople have created videos showing how credit unions are like banks, only better!
What's the difference?
Global Credit unions are member-owned financial cooperatives that provide savings, credit and other financial services to their members. Credit union membership is based on a common bond, a linkage shared by savers and borrowers who belong to a specific community, organization, religion or place of employment. Credit unions pool their members' savings deposits and shares to finance their own loan portfolios rather than rely on outside capital. Members benefit from higher returns on savings, lower rates on loans and fewer fees, on average.
Credit unions worldwide offer members from all walks of life much more than financial services. They provide members the chance to own their own financial institution and help them create opportunities such as starting small businesses, growing farms, building family homes and educating their children.
Regardless of account size in the credit union, each member may run for the volunteer board of directors and cast a vote in elections. In some countries, members encounter their first taste of democratic decision making through their credit unions.
National Credit unions are known for member service and compassion. Individual credit unions are part of a national system of credit unions that share a common philosophy of member ownership. The Credit Union National Association is an organization dedicated to helping Americans understand the value of credit unions.
Local Community building and helping people are two of the guiding principles that make credit unions unique. Credit unions help build lives, not just bank accounts. This commitment goes beyond simply investing dollars. In addition to donations and sponsorships, credit unions support charitable organizations, service clubs and community groups through employee fundraising and volunteerism.