Benefits Of A Credit Union As Your Banking Service In Vicksburg MS
For many people, the best place to keep your money is at the bank. Banks have been used safely for hundreds of years, but with the recent troubles concerning the status of many of the nation’s biggest banking institutions, people are looking for a stronger and more dependable place to keep their life’s worth. In situations such as this, you may want to consider using a credit union as your Banking Service in Vicksburg MS. Credit unions are great ways to save some money. A credit union is usually going to be much smaller than a full-blown bank, and, therefore, will have a much smaller overhead than a bank would. Because of this, their fees will be much smaller than a traditional bank.
Besides the fact that credit unions are smaller than banks, there are also many other ways that a credit union can save you money as a Banking Service in Vicksburg MS. A credit union gives you a higher rate of return on your savings account than bank savings accounts do. Credit unions have some of the countries best interest rates on savings accounts, and that even includes CDs and money market accounts as well. Credit unions also give you better rates on credit cards. According to a survey, on average credit unions charge roughly 1 percent less interest than other credit cards. You can get lower interest rates on loans as well.
Saving money is very important, but there are other reasons to use a credit union as well. Credit unions have superior service, and a staff that genuinely wants to help their members. Bank accounts at credit unions usually have fewer strings attached to them compared to accounts at major banks. Accounts at credit unions usually don’t have holding periods when you deposit money, and there are no minimum requirements for avoiding fees associated with your balance. Credit unions also have shared ATMs and branches, so no longer do the days of having only one place to get your money exists.
If you are looking for a great place for your banking needs, Credit Unions can take care of everything. They can handle all of your checking and savings account needs, in addition to loans of all kinds with great rates. They offer online and mobile banking as well so you can access your finances 24 hours a day.