4 Reasons Credit Unions Beat Big Banks

Opening a checking account in Walla Walla can be convenient for your needs. Make sure you’re picking the right institution, though. If you’re tired banks, here’s why you’ll want to look for a credit union instead:

They’re nonprofit

That means they often offer lower fees, says Investopedia. Banks need to deliver profits. That’s one of the reasons why they charge higher fees and offer lower returns on deposits. They also have high lending rates. If you want better cost-savings, then switching to credit unions is a wise move to make.

They don’t have stockbrokers

That counts. Stockbrokers mean the company must make enough money in order to provide for quality dividend payments. That’s not a problem with credit unions. With the lack of stockbrokers, that means even more cost savings that credit unions can pass on to their customers.

They provide better service

Because credit unions are often a part of the community – many have been in the business and community for decades – it’s more than likely that you’ll know who you’re talking to the minute you walk through the door. That often allows for personalized service. That’s a far cry from the kind, quality and level of service you often get from big banks.

They have lower minimums

Before you open a checking account in Walla Walla, you’ll need to check the account minimum. Credit unions often have lower account minimums as well. If you love saving on costs, then it makes better financial sense for you to move to a credit union.

A few reminders

Just make sure you read reviews and feedback about the credit unions on your list before you choose one. Consider the firm’s reputation as well. Do your homework so you’ll know the kind of service you can expect from the company before you open an account with one.

For more information, visit them at HAPO today!

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