Did you know…
- 73% of millennials do not know that credit unions are not-for-profit, member-owned financial institutions.
- Credit unions can offer better rates on savings accounts, lower interest rates on loans, and little or no fees on accounts because they are exempt from federal taxes.
- President Franklin Roosevelt signed the Federal Credit Union Act in 1934 to promote thriftiness and prevent usury during the Great Depression.
- Credit unions are not-for-profit institutions and are owned by the people they serve.
- 82% of current credit union members have recommended their institution to others.
- Many credit unions have partnered together to form a network called, Co-Op Shared Branching, which gives members access to over 5,000 credit unions worldwide.
- Once you are a member of a credit union, you can remain a member regardless of what happens to your original qualifications. “Once a member, always a member.”
- ACCU has been serving Christians' financial needs for more than 5 decades!
- Free ATM access can be as widespread as a big bank. Many credit unions belong to nationwide ATM networks. This gives you surcharge-free access to thousands of ATMs around the country.
- To join a credit union, you must be eligible for membership. Members of each credit union share a "common bond," such as working for the same employer, belonging to a particular organization or church, or living in the same community.
- Credit unions have been able to keep up with the times and offer a variety of services, such as:
- Direct deposit
- Financial education/counseling
- Shared branching
- Electronic banking
- ATMs
- ACH origination
- Overdraft protection
- Home equity loans
- Mortgage loans
- Member business loans