The 4 Biggest Credit Union Myths
With International Credit Union Day right around the corner, we'd like to clear up the four biggest myths about credit unions.
- They aren't big enough. There are big and small credit unions, but just like bank's, your deposits at a credit union are insured by the federal government up to $250,000.
- It will be hard to access my money. Credit unions have access to a network of 30,000 free ATMs and 5,000 shared branching locations, making it easy for you to access your money anywhere.
- I can't join. Anybody can join a credit union. You may be eligible based on your employer, where you live, or your family, as most credit unions allow members' families to join.
- They don't offer as many perks as banks. Credit unions offer the same financial products as banks - checking account, debit and credit cards, online banking , IRAs (individual retirement accoutns), and home and auto loans - but because they're not-for-profit, the often offer better rates than banks.
If you are interested in joining ICCU, stop by any ICCU office!
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