Why switch to a credit union

Are you ready to make the switch now? Switching to a credit union is easy when you follow our steps. To help make it even easier, just ask us for a switch kit. You want everything in place before you close your old accounts. It has a handy checklist and forms that guide you through the process. Make the switch to United Financial today! Skip to content How Do I Join? What You Need to Know. Before switching to a credit union First, there are plenty of good reasons for switching to a credit union: Better customer service Better interest rates on deposits Lower interest rates on loans and credit cards.

What to consider when switching to a credit union First make sure you meet the eligibility criteria for becoming a member. In addition to charging fewer fees, many credit unions also offer special discounts to members on different products and services.

For example, Navy Federal Credit Union members can save money on things like car rentals, tax preparation services, car insurance and dental care. Nothing can ruin your day faster than having to spend hours on the phone with customer service trying to track down a check or verify a transaction. These days many credit unions offer most of the same services and products you'd find at a bank -- mortgages, credit cards, IRAs, home equity lines, even small business loans.

Consider the convenience factor. Credit unions have fewer branches, but today thousands of credit unions share their branch facilities, so that members of one credit union can use the shared branch networks of other credit unions.

And today many credit unions are part of nationwide ATM networks. Ask about deposit insurance. Nearly all of the 7, credit unions in the U. What about electronic services? Credit unions pioneered the concept of direct payroll deposit. The simplicity of having all your financial accounts at one institution is reason enough for many. However, there are other perks that can often be overlooked, including:.

Money Management. From your savings and spending to the monthly bills coming out of your account, the ability to monitor everything from a single location saves time and provides peace of mind.

Transferring Funds. You can make loan payments, transfer money from your savings to checking, and more with just a few quick clicks in your mobile banking app. Relationship Building. The more services you utilize at a financial institution, the more knowledgeable you become about all the tools and capabilities available to you.

Likewise, that financial institution has a much better picture of where you stand financially, which can aid you when you apply for loans in the future. While switching your accounts to the credit union does require some work on your end, the steps are actually quite simple to complete.

If you plan to transfer your savings or investment accounts, money market or certificate accounts to the credit union, you simply need to withdraw this money from your existing account. Then, stop by the credit union to open your account s and deposit the money. Therefore, you may not be able to withdraw these funds from your current account without a penalty until the term expires. First, you want to stop by the credit union and open your account.