Choosing a Credit Union: Things to Keep in Mind

1. CHOOSING A CREDIT UNION: THINGS TO KEEP IN MIND 1. MEMBERSHIP QUALIFICATIONS Unlike banks, credit unions are more community based since the members of the community usually run them. Therefore, before you join, ensure you can identify with it so you can feel more at home. Some are based on the field of work, business, or location. For this reason, you may not qualify if you're not from the same field. 2. RATES AND FEES Once you're sure you qualify, it's time to go deeper. Before you register, find out about their rates and fees. Generally, credit unions offer better rates than banks, but it's essential to check with different unions to get the best. Rates go both ways, and you should check them all. Only settle for those with competitive interest rates for loans and savings. 3. MONEY AVAILABILITY Credit unions are the best places to get loans since the process is easy, they don't require much collateral, and they have competitive interest rates. However, sometimes they can be short on finances. Hence, before you sign up with one, ensure you know the maximum amount you can get and after how long. 4. SECURITY AND CREDIBILITY Credit unions are sprouting overnight at every corner of the street, only to disappear with your savings. So before you start saving with one, ensure they're insured by the National Credit Union Association and are well known. You can ask about their services, read their online reviews, or seek referrals from family and friends. To know more visit here: HTTPS://WWW.ATMMONEYMACHINE.COM/