A credit union is a financial institution owned by its members. Credit unions provide affordable loans for small businesses and consumers who may be unable to obtain financing from other sources. They also offer savings and insurance products.
Credit unions offer financial services at lower rates than banks, which means they can be cheaper for consumers. The best part about credit unions is that they often provide free checking accounts.
As with banks, to become a credit union member, you will need to complete a membership application form. The easiest way to do this is online at the credit union’s website.
Yes! Many credit unions offer low-interest personal loans, auto loans, home improvement loans, mortgages, and even student loans. The process is similar to applying for a traditional bank loan.