Welcome to world of Credit Unions! No, if you’re unsure, this is not just another bank. In fact, it is it’s own type of financial institution altogether. It has different laws (similar, but a different Act), different structure and while the services appear identical they can be different too. Despite the fact that there’s no single credit union as large as the big banks, you should have no issue tracking down a credit union near me.
Credit unions are the perfect place for that community minded individual. If you’re looking to build a strong relationship for your financial life and potential business. Interested in finding the nearest local credit union? See the map below to track one down.
Credit Unions Near Me – Use The Map
Find the nearest Credit Union. If you are looking for more banks near me then we have resources for that as well. If you want to find a credit union, the map above will do the trick. Otherwise if you were simply looking for a bit more information on what exactly a credit union is and how it differs from your typical bank, read on.
Big Brand Credit Unions
Credit Union Atlantic
America’s Credit Union
Credit Union Facts
- Just like banks, there’s more than one credit union. It’s not it’s own entity. There are many different credit unions across the country.
- Credit unions are provincially or state regulated, not federally like banks. They have the full backing (assuming they are a legitimate credit union) of the provincial or state government.
- They are insured for up to the same amount as federal institutions, but by the provincial governments, typically $100,000 per account.
- They were originally a large player in the agriculture industry. When you’re a community minded institution, there’s nothing more routed locally than a piece of farmland.
What Does A Credit Union Offer That A Bank Doesn’t?
- First and foremost, they have the community in mind. While a bank will typically sponsor a number of events, they’re global players. A credit union typically only has a handful of local branches and can only operate in one State or Province.
- A credit union partners with a number of great organizations. From investment services to insurance they work with the best, they don’t pretend like they can do everything best.
- Dividends from being a member without needing to buy shares in their stock. It’s a co-operative, so being a member means you’re a shareholder. You don’t need to pop over the NYSE to pick up a few shares in order to benefit from potential dividends.
Do I Own Shares In A Credit Union?
- Many people think that members are owners when it comes to credit unions. The fact is, that’s true.
- You only pay once. It’s not an ongoing payment or a higher monthly fee to “stay a member”, you pay your usual $5.00 and then that’s it. Your $5.00 sits in a membership count from day one.
- Dividends! As per above, these shares can provide you with a dividend payment.
Do Credit Unions Have ATMs?
Even credit unions have ATMs. They are very similar to a bank in terms of the actual services and “amenities” they offer. Once you’re up and running (which is typically the best part), you won’t notice anything ‘missing’ from your typical banking experience, perhaps more. Or at the very least a more pleasant experience.