Online Banking  |  Find a Branch  |  Contact Us

Are there advantages to becoming a credit union member?

Apr 21, 2009

Of course!

Why belong to a credit union?

Ever had one of those dreams where you're trying to get somewhere but stay stuck in one place? Banking at a traditional financial institution can feel just like that. Big plans and best intentions tend to count for little if you don't have deep pockets, even if you have a responsible track record. That's because banks are in the business of making a profit for their shareholders, while credit unions are all about the financial security of their members.

Over 1.5 million British Columbian’s, including individuals, families and businesses currently benefit from credit union membership, with more joining every day. They enjoy the favourably competitive advantages of belonging to a home grown institution that focuses on serving the local community, not enriching some distant stranger with stock options.

The following are benefits to membership.

Your voice counts
As a credit union member, you're also an owner, and can participate in voting for board members. Or run for a position yourself!

Sharing the wealth
When you join a credit union you automatically purchase a share. At the end of the fiscal year, dividends are divvied up among members and also shared in the community. Credit unions are committed to developing and assisting local businesses and non-profits, and giving back to the community. With 40% of national credit union assets, BC’s system is the strongest in English-speaking Canada. Each new member makes it that much stronger.

An “open door” policy
You always get a warm welcome when you come in to discuss financial matters, open a new account, or apply for a loan or credit card; you'll never feel as though you're being patronized or grilled.

Superior customer service
Friendly, personable customer service is a distinguishing characteristic of credit unions, which routinely rate higher than banks in customer service and satisfaction surveys.

An account for everyone
These include: special accounts for children, students and seniors; accounts based on the number of transactions you intend to make; multi-purpose business accounts; daily interest savings accounts; pay-as-you-go accounts; $US accounts; and more.

Comprehensive products and services
From RRSPs, mutual funds and other investment options, to a wide range of insurance products and expert financial planning, credit unions offer it all. Even better, loan and mortgage rates tend to be very competitive. Terms and conditions are usually more flexible.

24/7 Convenience
With your credit union MemberCard®, you can bank at ATMs around the world. When you use a BC credit union ATM, you won't be dinged with a surcharge. Bank online or by mobile telephone too! Have you balances texted to you.

I hope that helps.


More Questions    | Ask Zippity a question

ZDOG Video

Aspire Trio
Zippity Do Dog - Financial Information For Youth