The 4 Biggest Credit Union Myths
With International Credit Union Day almost here, 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 banks, 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.
We proudly serve all those persons who live, work, worship, or attend school or post-high school in the following Michigan counties: Midland, Clare, Gladwin, Isabella, Gratiot, Saginaw, Bay, Osceola, Muskegon, Ottawa, Kent, and Allegan. Interested in joining? Visit one of our branches and be sure to bring your driver’s license or state-issued ID!
- They don’t offer as many perks as banks.
Credit unions offer the same financial products as banks—checking accounts, debit and credit cards, online banking, IRAs (individual retirement accounts), and home and auto loans—but because they’re not-for-profit, they often offer better rates than banks. We also provide free notary services at every branch, night deposit boxes 24/7, and at select branches coin counting machines and safe deposit boxes.
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