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You are viewing savings rates in Niagara Falls, New York

Niagara Falls, New York Credit Union Savings Rates 2019

Credit Unions can offer savings and money market rates that are competitive not only with local banks, but also sometimes with the best rates at online savings banks. The table below lists the best rates at credit unions near you. If you click on the credit union’s name, you’ll be taken to more information about its locations and operations.

Niagara Falls, NY - August 21, 2019

Savings Account National Average Rate: 0.20% ?

Advertiser Disclosure
Credit UnionS APY Vs.
Nat'l
Av.
MIN Miles?
Bethpage
Restrictions
2.00% 9.80x $500 4794.16
Nassau Educators
Restrictions
2.00% 9.80x $25,000 4811.24
People's Alliance
Restrictions
1.88% 9.22x $25 4799.17
American Airlines
Restrictions
1.81% 8.87x $1 4823.80
1.71% 8.38x $25,000 5119.10
1.56% 7.65x $10,000 5119.10
N C P D
Restrictions
1.51% 7.40x $0 4812.08
Empower
Restrictions
1.51% 7.40x $25,000 5026.00
Suma Yonkers
Restrictions
1.36% 6.67x $50 4831.84
Empower
Restrictions
1.26% 6.18x $10,000 5026.00
Novartis
Restrictions
1.25% 6.13x $25,000 4848.86
1.11% 5.44x $10,000 4895.56
Riverside
Restrictions
1.10% 5.39x $20,000 5128.52
Novartis
Restrictions
1.05% 5.15x $2,500 4848.86
1.02% 5.00x $2,500 5002.31
1.01% 4.95x $2,500 4895.56
Centra
Restrictions
1.01% 4.95x $25,000 5113.43
Ukrainian
Restrictions
1.01% 4.93x $25,000 5081.65
Empower
Restrictions
1.00% 4.90x $2,500 5026.00
United Nations
Restrictions
1.00% 4.90x $25,000 4825.64
Teachers
Restrictions
1.00% 4.90x $25,000 4789.35
1.00% 4.90x $25,000 4905.51
Great Meadow
Restrictions
1.00% 4.90x $25,000 4915.67
Riverside
Restrictions
1.00% 4.90x $3,000 5128.52
0.90% 4.41x $25,000 4820.47
First Source
Restrictions
0.90% 4.41x $25,000 4980.01
Ghs
Restrictions
0.90% 4.41x $25,000 4966.52
Qside
Restrictions
0.90% 4.41x $25,000 4816.77
Visions
Restrictions
0.90% 4.41x $10,000 4970.34
G.p.o.
Restrictions
0.90% 4.41x $20,000 4980.44
Centra
Restrictions
0.90% 4.41x $25,000 5113.43
Americu
Restrictions
0.90% 4.41x $25,000 4991.05
0.85% 4.17x $10,000 4820.47
0.80% 3.92x $2,500 4820.47
First Source
Restrictions
0.80% 3.92x $10,000 4980.01
G.p.o.
Restrictions
0.80% 3.92x $2,000 4980.44
Americu
Restrictions
0.80% 3.92x $10,000 4991.05
Suma Yonkers
Restrictions
0.76% 3.73x $50 4831.84
Ukrainian
Restrictions
0.75% 3.69x $10,000 5081.65
Ghs
Restrictions
0.75% 3.68x $10,000 4966.52
Qside
Restrictions
0.75% 3.68x $10,000 4816.77
The Summit
Restrictions
0.75% 3.68x $1,500 5085.50
United Nations
Restrictions
0.75% 3.68x $2,500 4825.64
Geico
Restrictions
0.75% 3.68x $25,000 4807.94
Inner Lakes
Restrictions
0.75% 3.68x $25,000 5132.34
Suffolk
Restrictions
0.75% 3.68x $25,000 4786.22
Americu
Restrictions
0.75% 3.68x $2,500 4991.05
Nassau Financial
Restrictions
0.70% 3.43x $25,000 4811.85
Geico
Restrictions
0.70% 3.43x $5,000 4807.94
Inner Lakes
Restrictions
0.70% 3.43x $5,000 5132.34
0.70% 3.43x $25,000 5117.20
Pittsford
Restrictions
0.70% 3.43x $10,000 5069.95
Centra
Restrictions
0.70% 3.43x $10,000 5113.43
Americu
Restrictions
0.70% 3.43x $2,500 4991.05
Financial Trust
Restrictions
0.65% 3.20x $25,000 5122.19
The Summit
Restrictions
0.65% 3.19x $25,000 5085.50
Inner Lakes
Restrictions
0.65% 3.19x $2,500 5132.34
0.65% 3.19x $10,000 5117.20
Visions
Restrictions
0.65% 3.19x $1 4970.34
Quorum
Restrictions
0.65% 3.19x $25,000 4828.85
Sea Comm
Restrictions
0.63% 3.09x $25,000 5035.99
Mohawk Valley
Restrictions
0.60% 2.95x $25,000 4976.78
Financial Trust
Restrictions
0.60% 2.95x $10,000 5122.19
0.60% 2.94x $25,001 5128.42
Nassau Financial
Restrictions
0.60% 2.94x $5,000 4811.85
Corning
Restrictions
0.60% 2.94x $25,000 5016.30
First Source
Restrictions
0.60% 2.94x $1 4980.01
The Summit
Restrictions
0.60% 2.94x $10,000 5085.50
0.60% 2.94x $2,500 5117.20
Visions
Restrictions
0.60% 2.94x $1 4970.34
Pittsford
Restrictions
0.60% 2.94x $2,000 5069.95
Financial Trust
Restrictions
0.55% 2.70x $2,500 5122.19
0.55% 2.70x $25,001 5088.99
0.55% 2.70x $10,000 5119.02
First Source
Restrictions
0.55% 2.70x $1,000 4980.01
0.55% 2.70x $10,000 4905.51
Sea Comm
Restrictions
0.55% 2.70x $10,000 5035.99
Suffolk
Restrictions
0.55% 2.70x $2,500 4786.22
Xceed Financial
Restrictions
0.55% 2.70x $10,000 5075.05
Sea Comm
Restrictions
0.52% 2.55x $2,500 5035.99
0.51% 2.50x $25 5002.31
Ukrainian
Restrictions
0.50% 2.46x $2,500 5081.65
Mohawk Valley
Restrictions
0.50% 2.46x $2,500 4976.78
0.50% 2.46x $2,500 5088.99
0.50% 2.45x $10,001 5128.42
Corning
Restrictions
0.50% 2.45x $2,500 5016.30
Nassau Educators
Restrictions
0.50% 2.45x $2,500 4811.24
Ghs
Restrictions
0.50% 2.45x $2,500 4966.52
The Summit
Restrictions
0.50% 2.45x $1,500 5085.50
Access
Restrictions
0.50% 2.45x $25,000 4991.77
United Nations
Restrictions
0.50% 2.45x $50 4825.64
Great Erie
Restrictions
0.50% 2.45x $25,000 5114.16
Teachers
Restrictions
0.50% 2.45x $2,500 4789.35
0.50% 2.45x $50 5127.98
0.50% 2.45x $15,001 5083.87
Western Division
Restrictions
0.50% 2.45x $20,000 5119.93
Centra
Restrictions
0.50% 2.45x $5,000 5113.43
Sea Comm
Restrictions
0.48% 2.35x $100 5035.99
0.45% 2.21x $25,000 5124.46
0.45% 2.21x $25 5119.02
Partners 1st
Restrictions
0.45% 2.21x $25,000 4838.01
Great Erie
Restrictions
0.45% 2.21x $2,500 5114.16
Meridia Community
Restrictions
0.45% 2.21x $25,000 5117.25
Xcel
Restrictions
0.45% 2.21x $25,000 4826.94
Saint Lawrence
Restrictions
0.42% 2.06x $25,000 5053.62
0.40% 1.96x $2,500 5128.42
0.40% 1.96x $2,500 4823.47
0.40% 1.96x $10,000 5124.46
0.40% 1.96x $25,000 5017.60
Access
Restrictions
0.40% 1.96x $10,000 4991.77
Xcel
Restrictions
0.40% 1.96x $10,000 4826.94
0.40% 1.96x $50 4826.80
0.40% 1.96x $25,000 5075.95
Western Division
Restrictions
0.40% 1.96x $5,000 5119.93
Centra
Restrictions
0.40% 1.96x $1,000 5113.43
Olean Area
Restrictions
0.35% 1.72x $25,000 5073.63
0.35% 1.72x $2,500 5124.46
People's Alliance
Restrictions
0.35% 1.72x $25,000 4799.17
0.35% 1.72x $2,500 5017.60
Partners 1st
Restrictions
0.35% 1.72x $5,000 4838.01
0.35% 1.72x $10,001 5112.03
Great Meadow
Restrictions
0.35% 1.72x $2,500 4915.67
Xcel
Restrictions
0.35% 1.72x $2,500 4826.94
Reliant Community
Restrictions
0.35% 1.72x $25,000 5053.49
Advantage
Restrictions
0.35% 1.72x $25,000 5080.82
Wings Financial
Restrictions
0.35% 1.72x $5,000 4816.26
Alco
Restrictions
0.30% 1.47x $2,500 5055.02
Sperry Associates
Restrictions
0.30% 1.47x $25,000 4813.15
Esl
Restrictions
0.30% 1.47x $25,000 5077.10
Saint Lawrence
Restrictions
0.30% 1.47x $5,000 5053.62
Olean Area
Restrictions
0.30% 1.47x $10,000 5073.63
Justice
Restrictions
0.30% 1.47x $25,000 4826.96
Horizons
Restrictions
0.30% 1.47x $2,500 4965.58
Nassau Educators
Restrictions
0.30% 1.47x $21 4811.24
People's Alliance
Restrictions
0.30% 1.47x $2,500 4799.17
Hudson Heritage
Restrictions
0.30% 1.47x $20,000 4871.46
0.30% 1.47x $2,500 4905.51
0.30% 1.47x $2,500 5112.03
Meridia Community
Restrictions
0.30% 1.47x $2,500 5117.25
0.30% 1.47x $25,000 5127.98
0.30% 1.47x $10,000 5075.95
Western Division
Restrictions
0.30% 1.47x $1,000 5119.93
Municipal
Restrictions
0.30% 1.47x $10,000 4825.96
Cfcu Community
Restrictions
0.30% 1.47x $25,000 5005.43
Wings Financial
Restrictions
0.30% 1.47x $25,000 4816.26
Sperry Associates
Restrictions
0.25% 1.23x $2,500 4813.15
Usalliance
Restrictions
0.25% 1.23x $25,000 4824.32
Esl
Restrictions
0.25% 1.23x $10,000 5077.10
0.25% 1.23x $1 4820.47
Olean Area
Restrictions
0.25% 1.23x $2,500 5073.63
Justice
Restrictions
0.25% 1.23x $2,500 4826.96
Empire One
Restrictions
0.25% 1.23x $25,000 5122.10
Star Usa
Restrictions
0.25% 1.23x $50,000 -
0.25% 1.23x $1,000 5124.46
Empower
Restrictions
0.25% 1.23x $2,500 5026.00
Access
Restrictions
0.25% 1.23x $25 4991.77
Partners 1st
Restrictions
0.25% 1.23x $2,500 4838.01
First Heritage
Restrictions
0.25% 1.23x $2,500 5018.12
Servu
Restrictions
0.25% 1.23x $5 5018.82
Great Meadow
Restrictions
0.25% 1.23x $100 4915.67
0.25% 1.23x $25,000 5127.98
0.25% 1.23x $1,000 5083.87
0.25% 1.23x $1 4966.74
Hudson Valley
Restrictions
0.25% 1.23x $20,000 4861.92
Xceed Financial
Restrictions
0.25% 1.23x $1,000 5075.05
Reliant Community
Restrictions
0.25% 1.23x $10,000 5053.49
Greater Metro
Restrictions
0.25% 1.23x $500 4826.61
G.p.o.
Restrictions
0.25% 1.23x $51 4980.44
Advantage
Restrictions
0.25% 1.23x $10,000 5080.82
Municipal
Restrictions
0.25% 1.23x $2,500 4825.96
Buffalo Service
Restrictions
0.25% 1.23x $25 5124.52
Cfcu Community
Restrictions
0.25% 1.23x $10,000 5005.43
Cfcu Community
Restrictions
0.22% 1.08x $2,500 5005.43
Alco
Restrictions
0.20% 0.98x $100 5055.02
Sperry Associates
Restrictions
0.20% 0.98x $5 4813.15
Esl
Restrictions
0.20% 0.98x $10,000 5077.10
Saint Lawrence
Restrictions
0.20% 0.98x $1 5053.62
Olean Area
Restrictions
0.20% 0.98x $300 5073.63
Bethpage
Restrictions
0.20% 0.98x $5 4794.16
Empire One
Restrictions
0.20% 0.98x $10,000 5122.10
Auburn Community
Restrictions
0.20% 0.98x $25,000 5027.68
Nassau Financial
Restrictions
0.20% 0.98x $1 4811.85
Corning
Restrictions
0.20% 0.98x $2,500 5016.30
Qside
Restrictions
0.20% 0.98x $2,500 4816.77
Affinity One
Restrictions
0.20% 0.98x $25,000 5108.53
Sidney
Restrictions
0.20% 0.98x $10,000 4951.21
0.20% 0.98x $100 5073.90
Dannemora
Restrictions
0.20% 0.98x $25,000 4972.14
Finger Lakes
Restrictions
0.20% 0.98x $25,000 5041.92
0.20% 0.98x $1,500 5075.95
Greater Metro
Restrictions
0.20% 0.98x $500 4826.61
Mohawk Valley
Restrictions
0.20% 0.98x $100 4976.78
Quorum
Restrictions
0.20% 0.98x $10,000 4828.85
Centra
Restrictions
0.20% 0.98x $5 5113.43
0.20% 0.98x $25,000 4923.16
Wings Financial
Restrictions
0.20% 0.98x $5,000 4816.26
Affinity One
Restrictions
0.18% 0.86x $10,000 5108.53
Esl
Restrictions
0.15% 0.74x $2,500 5077.10
Empire One
Restrictions
0.15% 0.74x $2,500 5122.10
Star Usa
Restrictions
0.15% 0.74x $2,500 -
Auburn Community
Restrictions
0.15% 0.74x $10,000 5027.68
Sunmark
Restrictions
0.15% 0.74x $25,000 4910.38
First New York
Restrictions
0.15% 0.74x $25,000 4927.15
People's Alliance
Restrictions
0.15% 0.74x $50 4799.17
Hudson Heritage
Restrictions
0.15% 0.74x $2,500 4871.46
The Summit
Restrictions
0.15% 0.74x $100 5085.50
Affinity One
Restrictions
0.15% 0.74x $1,000 5108.53
Inner Lakes
Restrictions
0.15% 0.74x $1,500 5132.34
Great Erie
Restrictions
0.15% 0.74x $1,000 5114.16
0.15% 0.74x $2,500 4905.51
0.15% 0.74x $2,500 5127.98
Dannemora
Restrictions
0.15% 0.74x $5,000 4972.14
0.15% 0.74x $5 5117.20
Mid-hudson Valley
Restrictions
0.15% 0.74x $2,500 4877.25
Western New York
Restrictions
0.15% 0.74x $100 5117.66
Finger Lakes
Restrictions
0.15% 0.74x $10,000 5041.92
Reliant Community
Restrictions
0.15% 0.74x $2,500 5053.49
Ulster
Restrictions
0.15% 0.74x $500 4877.38
Advantage
Restrictions
0.15% 0.74x $1 5080.82
Western Division
Restrictions
0.15% 0.74x $100 5119.93
0.15% 0.74x $10,000 4923.16
Wings Financial
Restrictions
0.15% 0.74x $1 4816.26
Ufirst
Restrictions
0.13% 0.64x $20,001 4970.34
Hudson Valley
Restrictions
0.11% 0.54x $1,000 4861.92
Usalliance
Restrictions
0.10% 0.49x $2,001 4824.32
0.10% 0.49x $100 5128.42
Justice
Restrictions
0.10% 0.49x $2,500 4826.96
Pentagon
Restrictions
0.10% 0.49x $10,000 4851.89
Empire One
Restrictions
0.10% 0.49x $500 5122.10
0.10% 0.49x $100 4895.56
Star Usa
Restrictions
0.10% 0.49x $10 -
Auburn Community
Restrictions
0.10% 0.49x $2,500 5027.68
Sunmark
Restrictions
0.10% 0.49x $500 4910.38
Horizons
Restrictions
0.10% 0.49x $150 4965.58
First New York
Restrictions
0.10% 0.49x $5 4927.15
Ghs
Restrictions
0.10% 0.49x $100 4966.52
Qside
Restrictions
0.10% 0.49x $1 4816.77
Novartis
Restrictions
0.10% 0.49x $100 4848.86
Affinity One
Restrictions
0.10% 0.49x $25 5108.53
Sidney
Restrictions
0.10% 0.49x $2,500 4951.21
Financial Trust
Restrictions
0.10% 0.49x $250 5122.19
Geico
Restrictions
0.10% 0.49x $300 4807.94
Teachers
Restrictions
0.10% 0.49x $50 4789.35
Ukrainian
Restrictions
0.10% 0.49x $50 5081.65
0.10% 0.49x $1 5112.03
Ticonderoga
Restrictions
0.10% 0.49x $2,500 4941.67
First Heritage
Restrictions
0.10% 0.49x $100 5018.12
Island
Restrictions
0.10% 0.49x $2,500 4798.72
Meridia Community
Restrictions
0.10% 0.49x $100 5117.25
0.10% 0.49x $25 5083.87
0.10% 0.49x $5 5119.10
Mid-hudson Valley
Restrictions
0.10% 0.49x $100 4877.25
Hudson Valley
Restrictions
0.10% 0.49x $5 4861.92
Xcel
Restrictions
0.10% 0.49x $50 4826.94
Suffolk
Restrictions
0.10% 0.49x $100 4786.22
Finger Lakes
Restrictions
0.10% 0.49x $5 5041.92
0.10% 0.49x $25 5075.95
Reliant Community
Restrictions
0.10% 0.49x $1,000 5053.49
Ulster
Restrictions
0.10% 0.49x $2,501 4877.38
0.10% 0.49x $100 5088.99
Quorum
Restrictions
0.10% 0.49x $2,500 4828.85
Municipal
Restrictions
0.10% 0.49x $1,000 4825.96
0.10% 0.49x $500 4923.16
0.05% 0.25x $100 5117.86
Niagara's Choice
Restrictions
0.05% 0.25x $250 5138.57
Usalliance
Restrictions
0.05% 0.25x $1 4824.32
Esl
Restrictions
0.05% 0.25x $1 5077.10
0.05% 0.25x $100 4990.94
0.05% 0.25x $1,000 4823.47
Pentagon
Restrictions
0.05% 0.25x $1 4851.89
Star Usa
Restrictions
0.05% 0.25x $5 -
Auburn Community
Restrictions
0.05% 0.25x $50 5027.68
Sunmark
Restrictions
0.05% 0.25x $1 4910.38
Hudson Heritage
Restrictions
0.05% 0.25x $500 4871.46
0.05% 0.25x $250 5017.60
Sidney
Restrictions
0.05% 0.25x $500 4951.21
Partners 1st
Restrictions
0.05% 0.25x $500 4838.01
A C M G
Restrictions
0.05% 0.25x $100 5016.59
Ticonderoga
Restrictions
0.05% 0.25x $100 4941.67
Island
Restrictions
0.05% 0.25x $1 4798.72
Dannemora
Restrictions
0.05% 0.25x $50 4972.14
Xceed Financial
Restrictions
0.05% 0.25x $100 5075.05
Twin Rivers
Restrictions
0.05% 0.25x $100 5039.33
Ufirst
Restrictions
0.05% 0.25x $101 4970.34
Polish & Slavic
Restrictions
0.05% 0.25x $2,500 4824.92
Quorum
Restrictions
0.05% 0.25x $5 4828.85
Alternatives
Restrictions
0.05% 0.25x $5 5004.34
Advantage
Restrictions
0.05% 0.25x $1 5080.82
Riverside
Restrictions
0.05% 0.25x $100 5128.52
Cfcu Community
Restrictions
0.05% 0.25x $100 5005.43
0.01% 0.05x $10 6082.46
All rates listed are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION


Credit Union Savings Accounts 2019

Credit union savings accounts (also sometimes called share certificates or money market accounts) are savings vehicles that are offered by credit unions. Many Americans enjoy performing their banking transactions with credit unions as they are technically member-owned and may have branches close by. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions do have limited fields of membership – you must be a resident of a certain area or have a family member who was employed by a certain company. Other credit unions will have fields of membership that are virtually open ended (eg. must love life, etc.). If you find a credit union that interests you because of a rate or a service or a location, but are unsure if you qualify for membership, it is often worth reaching out to the credit union to discuss the parameters of the field of membership and whether there may be other ways in which you may qualify for membership.

Unlike online banks and even many local banks, all but the largest credit unions often lack robust online banking features. If you are interested in online banking, be sure to ask your credit unions about the online and mobile services they offer.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS


Why are credit union rates sometimes better than those from local and online banks?

The core difference between banks and credit unions is true regardless of size: Credit unions are nonprofits owned by the members, while banks are for-profit organizations. Credit unions can therefore sometimes pass along their profits in the form of lower rates (or better loan terms). Banks have some flexibility when competition forces it, but have to deliver an expected return on capital to their owners.

Is customer service better at credit unions that local banks or online banks?

Credit unions have long surpassed commercial banks for customer satisfaction. But as membership grows, their lead is shrinking, at least when compared with smaller banks. It’s also worth noting that in recent years, several online-only banks have earned high marks for their customer-friendly service options and their transparent discussions of fees and rates.  You may enjoy the local interaction with a credit union, but unless you are also getting a competitive rate, you may find that you best bet is to also have an online bank where you keep most of you money.

Is there any difference between a share certificate offered by a credit union and a savings or money market account offered by a bank?

The difference is mainly one of terminology, as increasingly is the difference between savings and money market accounts. Be sure to understand how to access you account. Look for no fees so long as certain balances are maintained, easy liquidity and ability to transfer your money to your accounts at other institutions, including ACH transfers to online banks.

Do Credit Unions lack technology that banks have?

As technology becomes a larger part of our everyday lives, customers rely on the ability to bank online or through a mobile device, such as an iPhone. Although credit unions are making the effort to keep pace with new financial technologies, they are still trailing banks (especially the leading online banks) on this front. Several third party platforms for online banking and mobile banking are increasingly being adopted throughout the banking industry, and credit unions will likely begin to adopt these as well, which should narrow or remove the gap between them and banks.

Is my money any less safe?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Should I consider time deposits?

Time deposits are the credit union’s term for certificates of deposit, but, aside from slightly different terminology, are virtually the same product. Time deposits have less liquidity, but if you are unlikely to require access to your cash for some time, you may be able to significantly augment your rate of return and the growth of your capital. Since unforeseen circumstances do arise, it is important to understand the early withdrawal fees that may even eat into your principal, and early withdrawal is often entirely at the credit union’s discretion. BestCashCow compiles all rates of all credit unions near you. Access this information here. You should also familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.

5 POINT CHECKLIST OF THINGS THAT MAKE CREDIT UNIONS GREAT

  • Rates are often better than savings and CD rates at local banks. Borrowing rates are sometimes lower too.
  • Members are Owners of a nonprofit. When you open an account at a credit union, your account is actually a share and provides you voting rights. Since credit unions are run as non-profits, you aren’t going to get appreciation or dividends from your ownership. Instead, these institutions have the ultimate goal of providing their members better rates on loans and financial products. When a credit union makes a profit, it is used to provide better opportunities to the community that it serves.
  • Clerks work with you. Since credit unions are small and serve their owners, they try hard to keep them happy. Many credit unions have fans for life after a clerk stays late to complete loan documents, and giving pointers about avoiding fees.
  • Credit unions provide low-income and financially distressed individuals the chance to qualify for financing.
  • Credit unions often run special programs that enable people to save for the holidays (such as Christmas Clubs) or to help finance the cost of higher education and university.

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