There are many perks when starting an account with a credit union instead of a Round Rock bank. One of my friends told me how the customers are owners and that credit unions are non-profit. These two benefits really stuck out in my mind as I heard them again from a personal trainer in Dallas.
Imagine the bliss that comes with no executive management that’s found in a publicly held bank institution. There it’s all about one thing to its shareholders, which is to make money. Management causes customers to fringe when prices surge, but now think about having your say in regarding what matters most to you. At credit unions all decisions will be heard because the customers, you, are the owners.
The second benefit was that credit unions are non-profits. Other big organizations are the same, like Joshua hospital can be non-profit. As revenue can still be generated so can keeping customers happy. The difference between a public bank is they thrive on making money off the customers, with a non-profit credit union it’s less hassle because that are exempt from federal tax and allows more revenue to generate.
If you are looking to save on fees and capitalize on lower rates, switching to a credit union can be a smart decision for you. Getting an account with no minimum balance and obtaining a loan or credit card can be even easier than other institutions.