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Top Five Factors for Choosing the Best Credit Union

Perhaps you have heard about the outstanding benefits of credit unions, and you are wondering how to join one. Well, before you join any credit union near you, you should evaluate the options and available so that you find a credit union that is beneficial to you. Credit unions are established to serve the interest of members and thus, you should consider your needs before you choose to join any credit union. Since several credit unions are available, you should make the following considerations so that you settle for the most appropriate one.

Rates and fees – Credit unions are non-profit making institutions, and therefore, they tend to offer affordable services compared to banks. For instance, you will find that they offer favorable saving rates and loan terms. However, credit unions have different rates and fees, and thus, you should take time to compare the options and choose the most affordable one.

Find out the number of branches and ATMs – Credit unions have branches and ATMs in a bid to bring their services closer to their clients. However, when choosing a credit union, you should find out the number of branches it has and their locations so that you know how accessible it is. Further, ATMs enable you to access your cash without over the counter transactions, and if a credit union has numerous ATMs, then it means you can reach your money whenever you want without necessarily visiting the branches.

Excellent customer service – Customer service is an integral consideration when choosing a credit union and you must not ignore it. Before you opt for a credit union, you should test the competent and reliability of its customer service. Therefore, you should test the customer service of various credit unions by calling to make inquiries and gauge how they attend to you. You cannot trust rogue credit unions with your money, but a reputable one will best suit you. Take time to visit review websites to check the opinions of current and previous clients about the services of the credit union.

Technology – Your credit union should not lag in embracing technologies that provide excellent service to you. Technology has a significant impact on making financial decisions, and they are cost-effective. It should have a smartphone app and online services so that clients can get services from wherever they are without visiting the credit union premises. Nowadays, software manufacturers can develop an application suitable for any credit union to serve its clients.

Licensed credit union – Nowadays, a lot of fraudsters are available, and before you join a credit union, you should confirm its licensing by the relevant authority or else you could easily get into the trap of cons. Today, cons are available, and if you are not careful, you will fall into their trap and thus, insist on choosing a licensed credit union.

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