Jun 27, 2017 / News
Credit Unions vs. Banks: It’s a divide as dramatic as Batman vs. Superman. OK, so you may not go to the movies to see it play out, but your decision of where to do business has a significant impact on your financial future — and that’s about as dramatic as it gets.
With increasing fees, people are taking a step back to consider which financial institution is right for them, and what credit unions have to offer. If you find yourself on a similar path, here are few things you need to know about credit unions:
Credit unions truly have their members’ best interests at heart because they are not-for-profit institutions. Instead of focusing on the bottom line, credit unions are focused on their members and how they can better serve them.
As a member of a credit union, you are also a part owner, which means when we say your opinion counts, we really mean it. Because credit unions are controlled by the very people who use the institution, there is no disconnect between management and the members. All work together to ensure excellent customer service and competitive rates and fees.
Because credit unions are not for profit and are owned by their members, they are able to offer lower rates and fees. In addition to that, credit unions are usually smaller institutions and are therefore able to function with less overhead, saving their members money.
At Utah First Credit Union, we sincerely care about our members and our community. Your financial success is our #1 goal. We’ve been serving our members for over 80 years, and with that experience comes reliability that you can count on. Learn more about becoming a member here.