Credit Unions vs Banks

credit unions vs banks

What advantages do credit unions have over traditional banks? Many of us are no strangers to traditional banks. If you’re like me, you may have even enjoyed visiting the bank as a child, knowing that the workers are loaded with yummy lollipops and eager to give you one. On the other hand, people seeking financial resources are often unaware of credit unions or simply overlook their services. What if I told you that banks aren’t always as sweet as those lollipops and joining a credit union may be the perfect solution for you?

Here are three areas where credit unions have an advantage over banks.

  1. Low-interest rates on loans/credit cards

Credit unions are non-profit organizations, dedicated to giving money back to their members. The profits made directly benefit those they serve. Banks need to meet the needs of their shareholders, taking the focus off of clients and upping the interest rates on services.

From your car to your home, our credit union offers low rates on the loans you need.

  1. Fewer Fees

1166 FCU makes personal banking a financial dream come true. There’s no minimum checking balance required and no monthly service charge, which means you can start saving money quickly and affordably.

  1. Access to other shared branches

The world thrives on constant connection, and there is no reason you shouldn’t be constantly connected to the financial support and services you need.

As a member of 1166 FCU, you gain access to more than 5,000 other branches, providing you with a multitude of convenient locations that can assist you.

At each location, you can:

  • Get a copy of your account history
  • Make loan payments
  • Withdraw money
  • Transfer funds
  • Make deposits
  • Cash checks

…and more!

Use our branch locator to find a location that works for you! 1166 FCU values service and saving, meaning we not only work to optimize your financial habits but we save you money at the same time. Join today and see why our services are better than banking.

Contact us

Browse our website for more information or contact us at (856) 542-9241 to speak to a member of our team.