WHY LOCAL MATTERS

Loans You Can Trust, From Your Local Lenders

 

When you do business with a credit union or a local bank, you are helping to support an
entire community. Many credit unions and local banks have neighborhood roots, and are dedicated
to investing in the individuals and small business owners who live and work there.

Credit unions and local banks often provide many of the same financial services that bigger banks
offer—but typically at far less cost. Because their focus is on providing value to members, credit unions
can offer more competitive rates and affordable terms to their members, such as lower APRs
for student loans and mortgages, and no (or low) minimum balances for accounts.

Members of credit unions and community banks often report experiencing better customer service and
more personal attention. And your accounts are safe! The National Credit Union Share Insurance Fund, which is backed by the U.S. government, insures federally chartered and many state chartered credit unions. The Fund, similar to the FDIC for bank deposits, insures individual accounts up to $250,000.

Be a Part of the Community

Credit Unions and Community Banks

A credit union is a not-for-profit cooperative financial institution that provides financial services
for its members. Credit Unions are owned by their members and their main purpose is to serve the financial needs of its membership. Because of this mission, credit unions are on the forefront
of providing thrift and high value financial products and customer service to its membership.

Community banks are independent, locally owned and operated institutions with assets ranging
from less than $10 million to multi-billion dollar. Whether located in small towns, suburbia or big-city neighborhoods, community banks improve communities by funding small businesses and
using local dollars to help families purchase homes, finance college and build financial security.

Unlike many larger banks that may take deposits in one state and lend in others, community
banks and credit unions channel most of their loans to the neighborhoods where their depositors
live and work, helping to keep local communities vibrant and growing

 

Advantages of Credit Unions & Community Banks

  • Lower APR on most loan types, including student loans, mortgages, auto loans and credit cards
  • Better rates of return on savings accounts and certificates of deposit
  • Low fee or no fee checking accounts and ATM access
  • Low or no minimum balances to maintain accounts
  • Peace of mind with U.S. Government insured accounts up to $250,000