Why Millennials Should Open Their Credit Union Account Today

Posted on Feb 27 2018 - 1:57pm by jc

A woman computingEverything, when done at the right time, has benefits. Starting early will always get you on the right track and keep you on winning in life. As a millennial. you should start thinking of opening your credit union account today. Not only will it help you save up for the future, but it also keeps you disciplined when it comes to money.

Today, palmettocitizens.org will discuss why millennials should open a credit union account as early as now.

It is Cheaper to Borrow from a Credit Union

Most credit unions have a smaller fee compared to other financial institutions. Some even have zero fees, which is very attractive to young people, including millennials. Interest rates and fees often make it difficult for young people to decide to borrow money from financial institutions. With credit unions, this kind of problem is waived.

Less Fess for New Accounts

Speaking of fees and interests, studies have shown that more credit unions charge less than banks when it comes to opening checking accounts. Industry experts have discovered that only about 37% of banks offer free checking accounts, while 72% of the United States’ biggest credit unions charge zero fees to customers when they open checking accounts.

Credit Unions Offer Better Customer Service

Without a doubt, banks are still bigger than credit unions, although credit unions are starting to make a name. It means that the staff of the latter are more willing to help you with your needs, as they have fewer customers to assist.

As a beginner in the credit union world, you will most likely need all the service and assistance they can offer. This isn’t a problem with credit unions, as most of them can provide a more intimate relationship with their customers, and can easily solve any problem you may have with their service.

READ  5 Crucial Steps When Buying a New Car for the First Time

Go ahead and call the nearest credit union in your area today!