You have options when it comes to depositing your hard-earned money and borrowing for important expenses such as home and vehicle purchases. That’s why it’s important to understand what sets a credit union apart—from monetary to geographic benefits.
Here are just five of the reasons you should bank with a credit union.
They pay dividends
One benefit of banking with a credit union is the status you’ll receive as a “member-owner.” Since credit unions are member-owned, the success of the organization also benefits those who have invested in it. You can earn dividends just for maintaining accounts with the credit union.
For a great example of that, check out this new $1 Million in Member Thank-Yous campaign from Sioux Falls Federal Credit Union (SFFCU).
They have low barriers to entry
Many banks and other financial organizations may require a large deposit to obtain the maximum level of service and attention. Most credit unions, however, merely require you to “live, worship or work” within a given county or city in order to enter into its membership. SFFCU, for example, can set up your membership with as little as a $5 initial deposit—then you can start reaping the benefits of being a member!
With a heavy local focus, most credit unions are personable, open and available. You can rest assured that there’s a welcoming branch right there in your community, rather than relying on phone- or web-based customer service. You have a face-to-face option with a credit union. SFFCU has branches across Sioux Falls - check out which one is closest to you!
By their very nature, credit unions have a focus on community. They grow and expand based on the dedication of their members, so they have a vested interest in the betterment of the communities they serve. SFFCU counts integrity, respect and service among its core values—it’s a not-for-profit that isn’t beholden to corporate shareholders or higher-ups. (It’s one of the reasons offering up a giant “thank you” to its membership makes so much sense.)
One calling card of a credit union is that it’s owned by its members. As such, the benefits of the organization trickle down to the member-owners. Take SFFCU’s new $1 Million in Member Thank-Yous campaign—it aims to offer bonus dividends to members as a “thank you” for continued loyalty and support of the credit union. That’s $1 million in bonus cash deposited right back in member accounts.
Ready to join?
There’s so much more to a credit union than just these five examples—check out more of what SFFCU is doing to thank its members here. Then sign up to join the credit union to start reaping the benefits!