Do yourself a favor and do a quick internet search on the closest credit unions by your home.  I’m sure you will be pleasantly surprised by the number of results that come back.  Take a few minutes and browse the options available to you, check out their website, and see the rates and benefits they offer their members.  Too often people go with the big banks and give little thought to their neighborhood credit union.

The single biggest advantage of belonging to a credit union is that the members (yes, YOU!) are the true owners of the financial institution rather than the stockholders.  This means that profits and savings are often passed on to the account holders in the form of lower interest bearing loans, and higher interest earning accounts.  The rates are nothing much too look at right now as they are low throughout the country, but that doesn’t mean you should ignore a readily available savings tool like a CD or money market account with slightly higher rates.

Another unfortunate side of banks is that they are now deriving more and more revenue from increased bank fees.  There is a fee on just about everthing, from replacing an ATM card, to making an actual deposit inside the bank rather than through the ATM.  Technologically, credit unions are keeping up with the banks just fine.  Most offer free online banking, mobile apps, and they don’t gouge you with fees.  In fact, most credit unions rarely have account minimums even in this day and age.  That can certainly beneficial for married couples that have small separate accounts outside of their joint financial accounts.

The big banks used to have the overwhelming benefits of thousands of locations for their customers convenience.  However, most credit unions now belong to a national co-operative network of credit unions.  This means that you can make deposits, withdrawls, and use the ATM’s all free of charge at any of those participating credit union locations.

So, what are you waiting for?  I’ve think you’ve run out of excuses and need to heed my advice…find the nearest credit union to you!