Jan 07, 2019 / Local Utah
Relationships are an essential part of life. They allow you to stay focused on what’s most important and help you follow through with life goals. The same is true with your banking relationships. In fact, having a good relationship with your local credit union can help you focus on your financial goals and follow through with major life plans. Here are 4 reasons why it’s a good idea to have a relationship with your credit union.
Whether you’re applying for a loan or just wondering which credit card or checking account is right for you, having a relationship with your credit union can help you feel more at ease with your financial decisions. When you have a trusting relationship with your local credit union, you can call or stop by anytime to ask questions and develop strategies to help you accomplish your financial goals. Plus, when you know your credit union knows you, you feel more comfortable that your credit union is actively looking out for your best interests.
When you have a good relationship with your credit union, it makes sense that your level of service will be higher. From simply knowing your name to understanding the details of your accounts, more familiarity almost always equals better quality service. And when you have a trusted partnership with your credit union, loan applications, transactions, and even getting answers to your financial questions tend to be easier and more efficient.
If you own a business, it’s arguably even more important to have a relationship with your credit union. Not only can it help with loan applications/processing and day-to-day business transactions, your credit union can be a valuable resource for business contacts and referrals. When your local credit union knows and trusts you (and vice versa) you have a better chance of finding new business partners and clients, simply by taking advantage of your credit union’s connectedness in the community.
By developing a relationship with your local credit union, your credit union gets to know you. But, perhaps more importantly, you get to know your credit union. You see how they operate, how they treat people, and where their true priorities lie. Some banking relationship can become one-sided, with the bank focused primarily on profits. But others assure you by the way they operate that your interests are top priority. Do your research ahead of time, but also pay attention to how your relationship evolves. It should always be mutually beneficial with trust as a key component of the relationship.
Banks and credit unions are an important part of your everyday life. So why not make sure you have a good relationship with yours? If you’d like to know more about a credit union that puts people first, come see what makes Utah First stand out from run-of-the-mill banking relationships.