Is A Credit Union The Best Place For My Money?

Whether you’re moving to a new city, filling out payroll forms for your new job, or reviewing financial statements at month end — your money and where you keep it are on your mind. If you’re looking for a new place to put your money or if you’re tired of paying big fees at your current bank, you might want to consider joining a credit union.

You may have heard they’re a popular option, but you still have questions. Should you join a credit union? Keep reading to help you decide if one is the best place for your money.

Choosing to join a credit union would put you in good company. As of 9/1/2018, the Credit Union National Organization (CUNA) reported there were 117.9 million credit union members in over 5,500 credit unions in the United States. While many people stick to using a bank, it makes sense to learn more about credit unions and the pros and cons of joining one.

What is a Credit Union (CU)?

Credit unions operate differently than a bank. They are not-for-profit financial organizations, and when you join, you become a member — not a customer. Each account holder has an ownership stake and is a voting member of the credit union.

The CU exists to offer members a wide variety of affordable financial products and services. And they pass through…