Are you in a relationship with a big bank? Maybe it’s time for a break up.
I know the day of love and relationships was last week, but it’s always the right time to talk about your relationship with your financial institution. Relationships should be happy, beneficial, and rewarding. How do you feel about your relationship with your financial institution?
Is dealing with your bank like going to the dentist? Facing the IRS? Dealing with the cable guy? In a recent survey conducted by McGraw-Hill Federal Credit Union, that’s exactly how people felt. According to the survey, customers at big banks complained about high or hidden feeds, and said that their bank just doesn’t listen to their needs. That doesn’t sound like a happy, beneficial or rewarding relationship to me.
In the same study, 71% of people said they would break up with their bank if they had a better alternative.
Well, it’s time these people met a different sort of financial institution… The credit union.
Credit unions were founded on the principle of people helping people. Credit unions help their members and always listen to their needs. Whether on the phone or in a branch, the friendly and knowledgeable staff will always be there to help you with your finances.
Credit unions meet and exceed the products, services, technology and other offerings of big banks. Because credit unions are member-owned and not-for-profit, the money goes back into the credit union and is transferred to members in the form of better rates and low to no fees. Credit unions also have a very strong presence in the communities they serve, helping to raise money for charities and host events to raise awareness for causes.
Many credit unions have mobile apps and online banking, so you have access to your finances while you’re on the go. Want to stop in to a branch but you’re not in your hometown? No problem. Shared branching allows you to access your account at any participating shared branch in the state or across the country. Thanks to shared branching, Maine’s credit unions have more locations than any single bank.
If you’re not getting all these perks and more, then it’s time to break up with your bank and join a credit union. Why should you get anything less from your relationship with a financial institution?
I hope everyone stocked up on half-price Valentine’s candy! Have a great Monday.