savings

5 credit union perks for the little guy

Better than a big bank?
Next
1 of 7

At credit unions, every person counts and they want you to know it.

Yes, they do usually offer lower fees and better service than big banks. They also serve up some neglected goodies worth scooping up, including discounts on events and cash-back incentives.

How do they pull this off? By pooling buying power.

Since credit unions are not-for-profits owned by their members, they return savings to their membership. For example, auto loan rates are usually 2 percent lower than they are at banks, says Anne Legg, chair of the Credit Union National Association's Marketing and Business Development Council.

"We have everything that big banks have and more," says Todd Pietzsch, spokesman at BECU, a credit union based in Tukwila, Wash. "But a lot of people don't understand the benefits."

To be sure, credit unions come in all shapes and sizes. Some are community based; others cater to specialized groups like police officers or teachers. Many Fortune 500 companies and universities also are affiliated with credit unions. Perks can be equally generous at all of them, says Legg.

Here's a sampling of the perks being offered at credit unions near you.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Ask Dr. Don

Duped by 1970s bond scam?

Dear Dr. Don, Back in 1976, there was a chain letter scam involving savings bonds. I got caught up in it. You could buy a bond for the person at the top of the list and you were then supposed to receive many more in return.... Read more

advertisement
Partner Center
advertisement

Connect with us