Joining a credit union involves enjoying many benefits that distinguish credit unions from traditional banks. However, many credit unions also offer unique perks to their members that can make their products and services even more attractive.
The following are some perks to consider looking for in a credit union membership. While the primary benefits of credit unions involve personalized service, access to lower loan rates, and many others, these additional perks certainly don’t hurt.
Technological conveniences
Financial technology has made banking easier than ever. That is, if banks and credit unions take advantage of it.
When evaluating credit union membership’s benefits and perks, consider how a given credit union may use technology to offer convenient services. For example, they should offer apps or online platforms that allow you to view statements, pay bills, and perform other tasks with efficiency and ease.
Ideally, you should be able to access these tools both via a desktop computer and a mobile device. After all, you may have a busy lifestyle. Being able to complete various banking tasks regardless of where you happen to be is certainly an option that might appeal to you.
Additionally, you might prefer handling these tasks via a 24/7 automated phone line instead of an app or website. A credit union membership should offer you the option to do so as well.
Basic modern conveniences
Along with online and mobile banking features, an ideal credit union should also offer some less-techy but still useful modern conveniences.
For example, membership with a credit union may provide access to coin-counting machines. They make turning coins into bills much easier than it used to be.
Similarly, you might not always have an envelope on hand when you want to deposit money into an ATM. That’s why some of the top credit unions use ATMs that don’t require envelopes.
Many are also part of the CO-OP Network of credit unions. CO-OP has ATMs throughout the US, ensuring American customers are rarely far from one.
Standard conveniences
Some older, traditional conveniences and services might also make a particular credit union an option worth considering when you’re deciding which credit union to join. Examples include wire transfers, safe deposit boxes, money orders, and notary services.
Rewards and discounts
Many credit unions partner with other companies and brands. They may offer their customers rewards when they purchase products from those companies, or they may offer customers discounts with those companies.
Again, these rewards are hardly the main reason to join a credit union. You also shouldn’t necessarily disqualify a credit union if membership doesn’t provide access to enticing rewards and discounts. That said, when a credit union offers them, it’s a good sign that they value their relationship with customers.
That’s what’s most important. These additional perks and membership features are attractive on their own. However, the fact that they exist at all indicates the credit union offering them is one that does right by its customers.
This brings us back to one of the main reasons people join credit unions in the first place: a personal touch with an emphasis on customer satisfaction. Join one yourself and you may soon realize why so many opt for credit unions instead of traditional banks.
