I read an article that grabbed my attention: "5 Reasons to Choose a Credit Union over a Bank." The article listed 5 advantages of being a member of a financial institution. At a credit union,
- interest rates are superior,
- money is protected and insured,
- more fee-free accounts are available,
- members are shareholders,
- and credit unions are not for profit.
But there is much more to it!
Credit union employees believe in what they do. They put their members first. To find out just how credit unions put these advantages into action, and why they stand out, I asked Tina Morrill, of New Dimensions Federal Credit Union. Here is what she said!
Q: CU's are known for their superior customer service and support for their local communities. How is your credit union involved in the community? What support do you offer?
Tina: "New Dimensions FCU (NDFCU) understands the need and impact of community involvement...NDFCU hosts educational sessions at no charge, to help consumers have a better understanding of their credit score. [We are] very active with community driven projects. This type of community involvement, paired with the continued fundraising for the Ending Hunger in Maine Campaign, Maine Special Olympics, and the Maine Children’s Cancer Program, [we] embrace and fully support the community [we] call home!"
Q: Some people believe that credit union members have to sacrifice accessibility and technology. Do your members sacrifice access or technology to online services?
Tina: "We strive to make banking at our credit union easy and efficient for the member...We offer mobile banking and mobile bill pay...As banking technology evolves providing more remote options, we are certain to research if the new service is a benefit to the members as well as cost effective – we know how important it is...to meet all of the financial needs of each member near or far."
Q: Why is the service better at CUs? What makes CUs stand out?
Tina: "Credit unions are such a unique and endearing financial entity sharing the same philosophy which creates an advantage over banks. I always refer to credit unions as being the "Cheers of financial institutions where everyone knows your name, not your number."