Credit Unions: Working for YOU
Labor Day might be over, but credit unions are always working for their members.
Working to help members save money. Working to help members understand finances better. Working to protect members from financial pitfalls.
As not-for-profit financial cooperatives owned by members – credit unions typically offer lower rates on loans, higher returns on savings and lower or fewer fees for services. A credit union can do that because its emphasis is on providing financial services to members at reasonable costs and returns – not by amassing profits from them (like a bank does).
With more than 1.4 million members in Missouri and 96 million members nationwide, the savings provided by credit unions adds up. This is money that hard-working families can keep in their pockets and use for their needs.
- • Households that belong to a credit union save $126 each year – just by being a member.
- • On average, credit union members receive direct financial benefits of $62 EACH – just by being a member.*
- • Credit union members in Missouri received more than $80.2 MILLION in direct financial benefits last year alone.
- • Financing a $25,000 auto for 60 months at a credit union saves about $289 per year in interest.
- • In addition to financial savings, members rate credit unions tops in service and satisfaction. People come first at credit unions, and it shows.
While a bank uses people to make money – a credit union uses money to help people.
If you haven’t joined a credit union, what are you waiting for? Visit www.asmarterchoice.org to see what options are available to you.
*The $62 financial benefit is only an average (about $6 billion spread among 96 million credit union members nationwide). Loyal members – those who use the credit union and its services extensively – often realize total financial benefits that are even greater than the average.